Attending college is expensive. At a private school, it can be as much as the cost of a new car each year, according to U.S. News & World Report.
That’s where financial aid can come in. The colleges that offer the best financial aid are the ones that meet full demonstrated need and reduce the need for student loans or work-study opportunities.
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According to The Princeton Review, here are a handful of private colleges with the best financial aid. Also find out the average net worth of people with master’s degrees and those without.
Williams College
- Location: Williamstown, Massachusetts
- Type of institution: Private
- Enrollment size: Around 2,000
Williams College, a liberal arts institution, meets 100% of students’ demonstrated financial need with no loans or work study programs required. It also guarantees free textbooks and course materials to all financial aid recipients, per the college’s website.
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California Institute of Technology
- Location: Pasadena, California
- Type of institution: Private
- Enrollment size: Around 1,000
The California Institute of Technology, or Caltech, is one of the top science and engineering institutes in the world. It meets 100% of students’ demonstrated financial needs via scholarships, work study programs, grants and loans. According to the school’s website, most students from families who are making less than $200,000 annually will qualify for an aid package that covers their tuition.
Yale University
- Location: New Haven, Connecticut
- Type of institution: Private
- Enrollment size: Around 6,800
Yale University, a private research university, offers financial aid solely based on need to students from all over the world. It thoroughly evaluates each family’s financial situation — from income and assets to family size and special circumstances. Yale meets 100% of students’ demonstrated needs through grants. However, some students may choose to apply for term-time jobs, including work-study, or educational loans to help cover costs.
Reed College
- Location: Portland, Oregon
- Type of institution: Private
- Enrollment size: Around 1,300
Reed College is a liberal arts and sciences college that meets 100% of demonstrated financial need for both domestic and international students. Grants, employment opportunities and loans are all part of its financial aid program.
Pomona College
- Location: Claremont, California
- Type of institution: Private
- Enrollment size: Around 1,800
At Pomona College, a liberal arts institution, 20% of the student body are first-generation college students and more than half receive some sort of financial aid. It offers need-blind admissions for domestic students and meets 100% of demonstrated need (without loans) for all enrolled students. Loans and student employment are also available to help cover college costs.
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This article originally appeared on GOBankingRates.com: 5 Colleges With the Best Financial Aid, According to The Princeton Review
