Tuition fees at American universities are high for domestic and especially international students. Some American colleges, in addition to scholarships, also offer financial aid that makes studying in America more affordable. A distinction needs to be made between scholarships and financial aid. Scholarships are merit-based, which means that tuition reductions are obtained because of academic achievement. Financial assistance is need-based, which means that the reduction of tuition fees is obtained according to the financial situation of the applicants' families.
Fees for undergraduate studies in America vary from type of program, the field of studying, and educational institution. At state colleges known as community colleges, annual fees start at $5,000, while higher-ranked institutions will ask from $25,000 to be paid in installments.
American schools offering this type of help are ranked among the TOP 50 in the national ranking of universities. They are also research-based and help for both undergraduate and masters and doctoral studies. However, it should be emphasized that the greatest financial help goes to undergraduates in the field of Liberal Arts.
Columbia University in New York City
Officially, the "most generous faculty" when it comes to financial aid packages is the famous Ivy League member from the Big Apple. On the schools' official website, you will find information that they guarantee that all students who enroll in the first year of undergraduate studies, regardless of nationality, will be provided with student aid for all 4 years, if they prove eligible.
This is also among the most expensive colleges with an average price of about $62,000 (tuition and ancillary costs included). An undergraduate can receive $2,973 as gift aid. Also, students whose full needs are met will get a package worth around $55,000. The college can cover 100% of the demonstrated costs of its freshmen and transfer students.
Yale, New Haven, Connecticut
One of the most famous schools in the world, Yale grants an average of $52,900 as a financial aid package. There is also a contribution of $2,732 to undergraduates, while the percentage of college students with needs met is also 100%. In fact, Yale annually charges around $49,480 for all fees. Approximately one in five students is an international student, and more than half of all students receive financial aid.
For a college student whose family's income is less than $65,000, the school won’t require any money out of pocket. Finally, it is expected to get a scholarship of around $49,575 if all conditions are met.
Harvard, Massachusetts
Another renowned private college that produced the most famous lawyers of all time also meets the expectations of 100% of those in need of financial aid. Undergraduates are awarded a gift aid worth $3,678, while the grants go up to $51,308. Unlike several others from this list, Harvard has an equal reputation for the arts and humanities for both science and technology.
The famed college is certainly known for its quite rigid enrolment demands. Still, it can pay out much more when students finally get a degree. Research papers at StudyDriver say that almost 60% of Harvard graduates relied on receiving a loan or scholarship, while about 20% of them were sponsored by another entity. Among the many famous former Harvard graduates, we can count 8 American presidents, 158 Nobel laureates, 14 Turing Prize winners, and 62 billionaires.
Amherst College, Massachusetts
This is an institute that aims to provide 100% financial needs to both domestic and students from abroad. In fact, the total value of all institutional scholarships on a yearly basis is around $50 million. Accordingly, this significant monetary assistance allows students to less rely on expensive student loans. Instead of looking to borrow, they rather apply for a package of around $51,700.
When all things sum up and the average annual fee of $52,476 is involved, more than 70% of Amherst attendees finish their educational process without any student debt at all.
Colgate University in Hamilton
According to the university’s official site, annual fees go up to $51,955 and about $2,500 is covered by loans. In other words, there is a generous school grant worth around $46,775 and the college is absolutely committed to paying the expenses of each attendee.
University of Chicago
This is a private research institution in Chicago, Illinois. Founded in 1890, its main campus is located in Chicago's Hyde Park neighborhood. In addition to the arts and sciences, Chicago is known for its vocational schools, which include the famous Pritzker School of Medicine where students can learn the latest novelties in the subject.
On average, financial contribution to those in need goes to $49,967 and an undergraduate can get $2,483 for free. As expected, 100% of needs are met.
Tips to Getting Financial Aid
If you decide to study in America, there are over 4,000 schools at your disposal with a variety of programs, some of which will surely be the right choice for you. However, in order to know which program, which faculty or college is right for you, you must plan your studies at least 18 months in advance. It is important to inquire in time about the reputation of the institution, to consider the quality of the program, as well as to find out about the prices of tuition fees and funding opportunities.
You also choose the appropriate educational institution depending on the degree and the educational program you are interested in (undergraduate, graduate, doctoral studies; exchange programs, professional internships or professional training, research programs, language training, or else).
Make sure to meet demands and fulfill all formal and informal requirements. Also, before applying, be active in extracurricular activities such as volunteering, organization, sports, hobbies, etc. so that you can differentiate from other applicants.
Finally, after selecting the desired program, it is necessary to contact the Faculty, request the featured application forms, and inquire about all the details of the application procedure. You can apply for five to ten programs at the same or different faculties.
