Schools Who Meet 100% Need





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Discus: College Search and Selection: August 2004 Archive: Schools Who Meet 100% Need
By Liek0806 (Liek0806) on Friday, August 13, 2004 - 02:00 pm: Edit

Any of you guys know of any school that Meet 100% Need or about 100% Need?

I know USC is one of them, and it's kinda obvious because they always end up giving good financial aid packages.
http://petersons.com/ugchannel/code/instvc.asp?inunid=9392&sponsor=1
under financial aid category you'll find something like this, and well it says usc meets 100 percent
Of all full-time matriculated undergraduates who enrolled in 2002, 9,326 applied for aid, 7,587 were judged to have need, 7,007 had their need fully met. 6,183 Federal Work-Study jobs (averaging $2218)
In 2002, 2481 non-need-based awards were made
Average percent of need met: 100%
Average financial aid package: $25,521
Average need-based loan: $6078
Average need-based gift aid: $19,235
Average non-need-based aid: $12,288
Average indebtedness upon graduation: $19,176

By Liek0806 (Liek0806) on Friday, August 13, 2004 - 02:06 pm: Edit

bump

By Carolyn (Carolyn) on Friday, August 13, 2004 - 02:16 pm: Edit

Some others, according to U.S. News & World Reports 2004 Ultimate College Guide:

Dartmouth
Stanford
Cornell
Harvard
Yale
Duke U
Princeton
Emory
University of Chicago
University of Notre Dame
Boston College
Brown
Tufts
MIT
U of Rochester
Georgetown
UNC Chapel Hill
College of the Holy Cross
MAcalester
Lawrence University
Carleton
DePauw
\connecticut College
Vasar
Scripps
Bates
Bowdoin
HAverford
Colgate
Trinity College
Whittier
Barnard
Wesleayn
Hampshire
Middlebury
Amherst
Sarah LAwrence
Pitzer
Smith
Mt. Holyoke
Pomona

Of course, a school's definition of meeting "100% of need" is sometimes different from a student/families definition. And, often the 100% of need met includes substantial loans.

Wiliams
Bard
Colorado College

By Liek0806 (Liek0806) on Friday, August 13, 2004 - 03:57 pm: Edit

wowser thanks for the huge list

By Arizonamom (Arizonamom) on Friday, August 13, 2004 - 04:27 pm: Edit

Strange because we got nothing from Emory and a good package from CMC (who is not on the list). It depends on how they formulate your need and they all do it so differently. Emory takes into account home equity. Thanks for the list though I certainly made note of a few of those schools for my D.

By Carolyn (Carolyn) on Friday, August 13, 2004 - 04:38 pm: Edit

Arizonamom, I actually thought of you as I was typing out that list --- saw several schools that I know your S. was interested in.

Which is why I added the note that just because a school guarantees 100% of need, it doesn't mean that YOUR definition of need will be the same as the school's. When I looked at the list in more detail, I noticed that many of the schools on the list actually give out financial aid to very small percentages of their total students.

I think it's best to look at the actual make-up of financial aid - what is the average amount of loans a student graduates with? What's the average amount of grant money? What's the average merit award? What's the average work study amount (and is it realistic to earn that amount on campus?)---as well as the percentages of students who get each of the above.

By Massdad (Massdad) on Friday, August 13, 2004 - 04:38 pm: Edit

You should cruise the fin aid forums here. Schools define need one of two ways:

- the FAFSA or federal formula

- the institutional formula.

The latter usually includes home equity in the calculation, the former does not.

Many of us were pretty disappointed when we found out how little need based financial aid our kids would receive, especially when we struggle for day to day living expenses.

None of the formulas make any allowance for differing cost of living. The formulas assume it costs the same to live in NYC as to live in rural Georgia. Painful.

By Alexandre (Alexandre) on Friday, August 13, 2004 - 04:40 pm: Edit

Carolyn, does that awesome list apply to internationals too or just to Americans?

By Mini (Mini) on Friday, August 13, 2004 - 05:04 pm: Edit

"None of the formulas make any allowance for differing cost of living. The formulas assume it costs the same to live in NYC as to live in rural Georgia."

On the contrary, institutional calculations give a HUGE advantage to those living in NYC or Boston or San Francisco or L.A. because they cap the worth of a home in the calculations. The result is that those who invest in high priced real estate in these areas as a form of savings end up with an immense advantage over folks from poorer neighborhoods, or poorer areas of the country, or those who can't afford to buy a home at all. So what else is new?

For those of us in the middle income range (which in this country is $40-65k and no more, the important number is the last one (indebtedness upon graduation). All of the rest of the numbers can be jiggered to mean what the schools want them to say. The last one is hard cash.

By Jamimom (Jamimom) on Friday, August 13, 2004 - 06:27 pm: Edit

The USN&WR Ultimate Guide is a good source for figuring out the average breakdowns of the types of financial aid given. The indebtedness upon graduations is a tricky one, as many parents take out loans unbeknowst to the schoo (home equity being one common source). The numbers given are for student loans.

By Jamimom (Jamimom) on Friday, August 13, 2004 - 06:27 pm: Edit

The USN&WR Ultimate Guide is a good source for figuring out the average breakdowns of the types of financial aid given. The indebtedness upon graduations is a tricky one, as many parents take out loans unbeknowst to the schoo (home equity being one common source). The numbers given are for student loans.

By Jamimom (Jamimom) on Friday, August 13, 2004 - 06:27 pm: Edit

The USN&WR Ultimate Guide is a good source for figuring out the average breakdowns of the types of financial aid given. The indebtedness upon graduations is a tricky one, as many parents take out loans unbeknowst to the schoo (home equity being one common source). The numbers given are for student loans.

By Mini (Mini) on Friday, August 13, 2004 - 06:56 pm: Edit

But the rest of the numbers are virtually meaningless. If costs are $40k, and you receive $25k in aid, you are in no better shape than if it was $30k and you receive only $15k in aid. And the reason is that, as the colleges know quite well, they aren't offering ANY aid, just a discount off the published price.

Parents can meet their EFC portion anyway they like (mortgage the house, take out a loan, sell their younger daughter), but if the EFCs remain the same, all that matters FROM THESE DATA (obviously, there's a lot more than these data) is indebtedness upon graduation.

By Liek0806 (Liek0806) on Friday, August 13, 2004 - 07:34 pm: Edit

lol sell their younger daughter thats a funny one, by any chance do you know whose looking to buying?

By Techiedork (Techiedork) on Saturday, August 14, 2004 - 02:16 pm: Edit

well. it all depends on what you want to study, but Cooper Union and Olin provide free tuition to all their students (if you look up Olin, it'll give you a cost, but the way they deal with it is they provide full tuition scholarships to all of their students. at both schools you still have to pay for housing, living expenses, etc.)

By Carolyn (Carolyn) on Saturday, August 14, 2004 - 02:30 pm: Edit

Alexandre,
Some of the schools do guarantee to meet 100% need for internationals but many on the list do not offer any financial aid for internationals. I think that schools have a particular difficulty with offering to meet 100% need for internationals because of the relative lack of loans available for them.

Mini - you are right on target in your assessment. As I think I said, 100% of need does not mean a "free ride" - it means you're probably going to be offered a hefty loan as part of your package as well as work study. Work study can be very tricky because while it shows on your financial aid offer as covering costs of attending, you don't get it until AFTER you actually work for it - you have to come up with that amount initially. And some of the schools that claim to offer "the best" financial aid packages are mainly just offering huge loans. Pepperdine is one school that is notorious for doing that.

By Mikemac (Mikemac) on Sunday, August 15, 2004 - 12:12 am: Edit

as far as USC goes, beware of large upfront financial aid that they cut back after frosh year. See a thread here at http://www.collegeconfidential.com/cgi-bin/discus/show.cgi?6/77876
called "Be aware of large upfront financial aid"

By Par72 (Par72) on Sunday, August 15, 2004 - 12:31 am: Edit

Duke and Holy Cross meet 100% of financial aid. Also believe Notre Dame and all of the Ivies also do.

By Dave72 (Dave72) on Sunday, August 15, 2004 - 02:25 pm: Edit

Add Oberlin to Carolyn's list.


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