Most colleges and universities have the standard packages for financial aid, including government aid such as Pell grants and loans. And students can always apply for or compete for scholarships. But some schools are just thee best financial aid colleges than others in terms of overall financial aid packages, making it easier for students to attend and get the education they are seeking.
There are several different lists available for the best financial aid packages, but “best” can be defined in different ways. When you apply for financial aid with a college, make sure you know exactly what they offer. Here are some ways in which the best financial aid packages are defined.
- They cover all of a student’s tuition. Something that makes a college on one of the best financial aid colleges is that there is money for the entire cost of students attending school. Some of these financial aid packages are need based, but many are just standard procedure across the board. Between the government, the school’s endowment, and private scholarships give through the school, anyone who can get in can get their expenses paid for.
- They cover all of a student’s expected family contribution. This is the second thing that the best financial aid colleges have. These programs aren’t quite as generous, but they’re still good. When applying for student financial aid, a student fills out a FAFSA, and both the government and the institution use that to determine the family’s expected contribution. The school will then provide aid to make up the rest of the tuition, apart from the expected family contribution.
- They cover one of the above with a package that includes grants and scholarships but not loans. The best financial aid colleges will provide students with financial aid that does not include loans, so that students not only have the assistance they need, but can also graduate debt free. This is an ideal situation, because it’s very rare to get through college never having to take out a loan.
- They cover one of the above with a package that includes grants, scholarships, and loans. Because it is so rare for people to graduate without loans, it stands to reason that some colleges provide loans as part of their financial aid package. Of course it’s ideal not to borrow to school, but if loans are added to a good package of grants and scholarships, they can provide the necessary funds for getting through your time in college.
Make sure to ask about all these kinds of financial aid packages when you apply to different colleges. You might be surprised at how much the best financial aid colleges cover.