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Unweighted GPA: 3.7
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Schools that Meet 100% of Demonstrated Financial Need

What’s Covered:

 

For many families, one of the most stressful parts of college planning is anticipating costs. The average American family now pays more than $150,000 out of pocket for a degree from a private four-year college. This can seem like a nearly impossible financial burden for some families, but it’s important to remember that financial assistance is available and it’s often based on need.  

 

Some colleges promise to meet the financial needs of all accepted applicants, regardless of whether they are in-state, out-of-state, or international students. Keep reading to learn more about what it means to meet 100% of demonstrated financial need and which schools are able to offer this amazing benefit. 

 

What is Demonstrated Financial Need?

 

Demonstrated financial need is essentially how much financial assistance a family will need to cover the cost of attending college. This figure relies on two separate data points‚ÄĒa family‚Äôs expected family contribution and the cost of attending that specific college.¬†¬†

 

The expected family contribution (EFC) is essentially how much a family should be able to contribute towards tuition, as determined by the FAFSA. In general, the higher the family’s income and the more assets a family has, the higher the EFC will be.   

 

The cost of attending (COA) a college is generally the total sticker price at that particular institution. This includes room, board, tuition, any necessary fees, and even essential personal expenses. Basically, it is the all-in cost of attending that school for one full academic year.  

 

Demonstrated financial need is the gap between the EFC and the COA. For instance, if a family is expected to contribute $15,000 and the COA at the accepted student’s school of choice is $54,000, the demonstrated financial need would be calculated as follows: 

 

$54,000 (Total COA) ‚Äď $15,000 (EFC) = $39,000 Demonstrated Financial Need

 

Schools that commit to covering 100% of demonstrated financial need would then provide a financial aid package worth $39,000 per year in the case above. 

 

Which Colleges Meet 100% of Demonstrated Financial Need Without Loans?

 

School

State 

Acceptance Rate 

Amherst College

Massachusetts

9%

Berea College

Kentucky 

33%

Bowdoin College

Maine

9%

Brown University

Rhode Island

6%

Colby College 

Maine

9%

College of the Ozarks

Missouri 

21%

Columbia University

New York

4%

Dartmouth College

New Hampshire 

6%

Davidson College

North Carolina

18%

Emory University 

Georgia 

13%

Grinnell College

Iowa

11%

Harvard University

Massachusetts

4%

Johns Hopkins University

Maryland

8%

Massachusetts Institute of Technology (MIT)

Massachusetts

4$

Northwestern University

Illinois

7%

Pomona College

California

7%

Princeton University

New Jersey 

4%

Rice University 

Texas

9%

Smith College

Massachusetts

30%

Stanford University

California

4%

Swarthmore College

Pennsylvania

8%

University of Chicago

Illinois

6%

University of Pennsylvania

Pennsylvania

6%

U.S. Air Force Academy

Colorado

12%

U.S. Military Academy 

New York

11%

U.S. Naval Academy

Maryland

8%

Vanderbilt University

Tennessee

7%

Washington and Lee University

Virginia

19%

Williams College

Massachusetts

9%

Yale University 

Connecticut

5%

 

Which Colleges Meet 100% of Financial Need Without Loans for Certain Income Thresholds?

 

School 

Income Threshold

State 

Acceptance Rate

Colgate University

Total income less than $175,000

New York

17%

Cornell University 

Total income less than $60,000 and total assets below  $100,000

New York

9%

Haverford College

Total income less than $60,000

Pennsylvania 

18%

Lafayette College

Total income less than $150,000 with ‚Äútypical assets‚ÄĚ

Pennsylvania 

41%

Texas A&M University

Total income less than $60,000

Texas

64%

Texas State University 

Total income less than $50,000

Texas

70%

Tufts University

Total income less than $60,000

Massachusetts

11%

University of California ‚Äď Berkeley¬†

California residents with total income less than $80,000

California 

14%

University of California ‚Äď Davis¬†

California residents with total income less than $80,000

California 

49%

University of California ‚Äď Irvine

California residents with total income less than $80,000

California 

29%

University of California ‚Äď Los Angeles (UCLA)

California residents with total income less than $80,000

California 

11%

University of California ‚Äď Merced

California residents with total income less than $80,000

California 

87%

University of California ‚Äď Riverside

California residents with total income less than $80,000

California 

65%

University of California ‚Äď San Diego¬†

California residents with total income less than $80,000

California 

34%

University of California ‚Äď Santa Barbara¬†¬†

California residents with total income less than $80,000

California 

29%

University of California ‚Äď Santa Cruz¬†

California residents with total income less than $80,000

California 

59%

University of Illinois at Urbana-Champaign

In-state students with total income less than $67,100 and assets below $50,000

Illinois 

60%

University of Michigan ‚Äď Ann Arbor ¬†

High-achieving, in-state, full-time students with total income less than $65,000 and assets below $50,000

Michigan 

20%

University of North Carolina at Chapel Hill (UNC)

Total income at or below 200% of the poverty guideline

North Carolina 

20%

University of Texas ‚Äď Dallas¬†

Total income less than $65,000

Texas

87%

University of Texas ‚Äď El Paso¬†

Total income less than $65,000

Texas

100%

University of Tennessee

Total income less than $60,000

Tennessee

75%

University of Vermont 

Vermont residents with total income less than $60,000

Vermont 

64%

Washington University in St. Louis

Total income less than $75,000

Missouri 

13%

Wellesley College

Total income less than $100,000

Massachusetts

16%

Wesleyan University

Total income less than $100,000 and total assets below $400,000

Connecticut 

19%

 

Which Colleges Meet 100% of Financial Need but Include Loans in Financial Aid Packages?

 

School

State 

Acceptance Rate 

Barnard College 

New York 

11%

Bates College 

Maine 

17%

Boston College

Massachusetts 

19%

Bryn Mawr College 

Pennsylvania 

39%

California Institute of Technology (Caltech)

California 

4%

Carleton College

Minnesota 

18%

Claremont McKenna College

California 

11%

College of the Holy Cross

Massachusetts 

43%

Connecticut College

Connecticut 

41%

Colorado College

Colorado 

14%

Denison University

Ohio

28%

Franklin & Marshall College

Pennsylvania 

38%

Georgetown University

Washington D.C.

12%

Hamilton College

New York 

14%

Harvey Mudd College

California 

10%

Kenyon College 

Ohio

37%

Macalester College

Minnesota

31%

Middlebury College 

Vermont 

13%

Northeastern University

Massachusetts

18%

Oberlin College

Ohio

34%

Occidental College

California

38%

Pitzer College 

California

18%

Reed College

Oregon 

44%

Scripps College

California 

30%

Skidmore College 

New York

31%

Thomas Aquinas College

California

83%

Trinity College 

Connecticut

38%

Union College

New York 

47%

University of North Carolina at Chapel Hill 

North Carolina 

20%

University of Notre Dame 

Indiana 

15%

University of Richmond

Virginia

29%

University of Rochester

New York 

41%

University of Southern California (USC)

California

13%

University of Virginia 

Viginia 

21%

Vassar College 

New York 

20%

Wake Forest University

North Carolina 

25%

 

What Else Do You Need to Know About Financial Aid?

 

It’s important to realize that not all forms of financial aid offer the same benefits. That’s why we’ve taken the time to break down the schools above into three separate categories. Financial aid that consists entirely of grants and work-study programs is the most desirable form of aid since you don’t need to pay back the money awarded. 

 

Many colleges provide low-interest loans as part of a financial aid package. While they may help cover the immediate expense of college, they can prove costly in the long run. According to the Education Data Initiative, the estimated average student debt for graduates of the Class of 2021 is $31,100. This comes out to an average monthly student loan payment of $391.  

 

Families should also know where to look for additional financial assistance. While federal institutional aid is a good start, many states also provide aid, and private scholarships are another option.  

 

For more help navigating the process, don’t miss these CollegeVine resources:

 

 

 

Now that you have learned about schools which meet 100% of financial need, you may be wondering about your odds of admission. CollegeVine is here to help! Our free chancing engine is able to predict your likelihood of acceptance at the colleges and universities listed in this post and hundreds more.  

 


Short Bio
A graduate of Northeastern University with a degree in English, Tim Peck currently lives in Concord, New Hampshire, where he balances a freelance writing career with the needs of his two Australian Shepherds to play outside.