{"id":120673,"date":"2021-08-31T13:57:25","date_gmt":"2021-08-31T13:57:25","guid":{"rendered":"https:\/\/fin2me.com\/?p=120673"},"modified":"2021-08-31T13:57:25","modified_gmt":"2021-08-31T13:57:25","slug":"these-are-the-top-public-and-private-colleges-with-the-most-generous-financial-aid-packages","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/these-are-the-top-public-and-private-colleges-with-the-most-generous-financial-aid-packages\/","title":{"rendered":"These are the top public and private colleges with the most generous financial aid packages"},"content":{"rendered":"
The pandemic has put college affordability and student debt in the spotlight.<\/p>\n
As the economy continues to recover from Covid, the price of higher education is now the biggest financial consideration\u00a0among college-age Americans and their parents. At the same time, the cost a four-year college or university has never been higher.<\/p>\n
Tuition\u00a0and fees, alone, reached $10,560, on average, for in-state students at four-year public colleges in the 2020-21 academic year, and $37,650 for students at four-year private institutions, according to the College Board, which tracks\u00a0trends in college pricing and student aid.<\/p>\n
More from Personal Finance:<\/strong> "The biggest concern for college-bound students and their parents is assuming too much debt and the relative affordability of college," said Robert Franek, The Princeton Review's editor-in-chief.<\/p>\n That is the burden that so many students and their families carry with them, he added.<\/p>\n But too often families only consider the sticker price, Franek said, which doesn't account for need-based and merit aid. To that end, The Princeton Review\u00a0rated colleges\u00a0by how much\u00a0financial aid\u00a0is awarded and how satisfied students are with their packages.\u00a0<\/p>\n "So many schools are doing the near impossible, which is to not make students and their families leverage their financial futures," Franek said.<\/p>\n This year, at private colleges, the average scholarship award \u2014 or free money \u2014 is just over $35,000. At public schools, the average scholarship award is more than $11,000, which brings the out-of-pocket costs way down.<\/p>\n Two institutions are leading the way. Here are the top public and top private colleges with the most generous financial aid packages.<\/p>\n Location:<\/strong> Charlottesville, Virginia Location: <\/strong>New Haven, Connecticut
Schools weigh vaccine and mask mandates
Colleges and unvaccinated students are set for a standoff this fall
College plans rebound although cost is a top concern<\/p>\nTop public college for aid: University of Virginia<\/h2>\n
Tuition (in-state):<\/strong> $16,461
Room and board:<\/strong> $12,660
Books and supplies:<\/strong> $3,237
Average need-based scholarship:<\/strong> $25,386
Total out-of-pocket cost:<\/strong> $6,972<\/p>\nTop private college for aid: Yale University<\/h2>\n
Tuition:<\/strong> $59,950
Room and board:<\/strong> $17,800
Books and supplies:<\/strong> $3,700
Average need-based scholarship:<\/strong> $59,150
Total out-of-pocket cost:<\/strong> $22,300<\/p>\n