Every year, prospective students search for the best value in their education. This year is especially important, since the US is weighed down by a deep economic recession with a rising unemployment rate of nearly 10 percent. Therefore, the number one priority for students and parents alike is finding a school with generous financial aid.
The Princeton Review made the search easy and broke down the schools into two categories: private and public colleges. They compiled data from current students and school administrators at 650 private and public institutions, judging factors such as academics, financial aid and costs. Focusing on the financial area, they compiled information from financial aid reports and student surveying, factoring in costs such as tuition, room and board and other smaller fees such as books.
Top Ten Private Universities
- Swarthmore College
- Harvard College
- Princeton University
- Rice University
- Yale University
- Williams College
- Amherst College
- California Institute of Technology
- Pomona College
- Stanford University
Inexpensive Off-Campus Housing
TPR reported to USA Today, "at top-rated private college Swarthmore, with 1,480 undergraduates for the 2008-09 year, the total cost is $47,804, with the bulk – $36,154 – for tuition. But the average grant is $30,073. The school did not report the amount of student debt."
For prospective students, that is a remarkable deal, especially if they decide to stretch their funds even more. For example, a student who lives in the area or surrounding areas of the school should consider living at home, and taking the short commute five or less days a week. Students can still take advantage of the all opportunities campus life has to offer, yet for a less expensive option. If this is viable, parents and students should devise a plan to buy a pre-owned car that will take the student to and from campus. Investing a few thousand in transportation may end up saving a family tens of thousands in tuition and room and board.
If living at home is not possible, live off-campus in an inexpensive apartment. Ask the school how to get in touch with other accepted students (or current students) on finding a roommate. Some colleges even often offer message boards or ad placement services for finding roommates.
Free Tuition at Private Schools
The article, State v. Private College, Best Financial Aid, discusses the reasons why a private university can be most lucrative in receiving financial aid. Find out which Ivy League and most competitive schools offer free tuition to their low to middle income students. Additionally, this article, Tuition-Free Colleges, discusses four schools that offer full scholarships for every student regardless of her/his economic background.
The Princeton Review has put together an accessible list for both students and parents. Review the list and extensively research each college to find out the best financial value possible.
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