Merit Aid Awards Make Private Colleges Affordable
College education costs have been a growing concern for students and their families in recent years. Private colleges, often considered out of reach for many due to their higher tuition fees, have taken steps to address this issue by offering generous merit aid packages to students. A significant number of private colleges are actively working to make higher education more accessible by providing substantial merit-based financial aid to their students.
Merit aid is financial assistance awarded to students based on their academic and non-academic achievements, such as high grades, test scores, artistic ability, or athletics. Merit aid does not consider the financial needs of the student or family, just the accomplishments.
Some schools are transparent about the merit aid they offer with charts directly on their school’s websites, but often, a student must wait until their decision returns to realize their complete merit aid offer. Many schools will automatically consider students for merit aid without filing the FAFSA, but a few require that step. It is best to check with each institution where your child is applying to make the best decision for your family.
Finally, remember that many highly selective colleges and universities only offer need-based aid. Financial literacy is vital when navigating the college application process, and the financial fit is just as important as social and academic. Each family should keep their financial goals in mind as they consider a balanced college list for their child.
Take a look at this great list of private colleges offering over 85% of its accepted students substantial merit aid:
Butler University, IN
Agnes Scott College, GA
Denison University, OH
Gonzaga University, WA
Goucher College, MD
Ohio Wesleyan, OH
DePauw University, IN
University of Denver, CO
University of Dayton, OH
Willamette University, OR
Loyola Unversity Chicago, IL
Marquette University, WI
College of Wooster, OH
