February 25, 2012
62 Colleges Meet 100% of Students' Financial Need
U.S. News & World Report, Colleges That Claim to Meet Full Financial Need:
Among 1,171 institutions that reported the statistic to U.S. News, 62 colleges claim to have met, on average, 100% of their admitted full-time undergraduate students' financial need for fall 2010:
|School||State||U.S. News Rank, Category|
|Amherst College||MA||2, National Liberal Arts Colleges|
|Barnard College||NY||33, National Liberal Arts Colleges|
|Bates College||ME||21, National Liberal Arts Colleges|
|Blessing-Rieman College of Nursing||IL||Unranked|
|Boston College||MA||31, National Universities|
|Bowdoin College||ME||6, National Liberal Arts Colleges|
|Brown University||RI||15, National Universities|
|Bryn Mawr College||PA||25, National Liberal Arts Colleges|
|California Institute of Technology||CA||5, National Universities|
|Carleton College||MN||6, National Liberal Arts Colleges|
|Claremont McKenna College||CA||9, National Liberal Arts Colleges|
|Colby College||ME||21, National Liberal Arts Colleges|
|Colgate University||NY||21, National Liberal Arts Colleges|
|College of the Holy Cross||MA||29, National Liberal Arts Colleges|
|Columbia University||NY||4, National Universities|
|Cornell University||NY||15, National Universities|
|Dartmouth College||NH||11, National Universities|
|Davidson College||NC||11, National Liberal Arts Colleges|
|Duke University||NC||10, National Universities|
|Emory University||GA||20, National Universities|
|Franklin W. Olin College of Engineering||MA||Unranked|
|Georgetown University||DC||21, National Universities|
|Gettysburg College||PA||47, National Liberal Arts Colleges|
|Grinnell College||IA||19, National Liberal Arts Colleges|
|Hamilton College||NY||17, National Liberal Arts Colleges|
|Harvard University||MA||1, National Universities|
|Harvey Mudd College||CA||18, National Liberal Arts Colleges|
|Haverford College||PA||10, National Liberal Arts Colleges|
|Macalester College||MN||25, National Liberal Arts Colleges|
|Massachusetts Institute of Technology||MA||5, National Universities|
|Middlebury College||VT||5, National Liberal Arts Colleges|
|Mount Holyoke College||MA||29, National Liberal Arts Colleges|
|Northwestern University||IL||12, National Universities|
|Oberlin College||OH||24, National Liberal Arts Colleges|
|Occidental College||CA||37, National Liberal Arts Colleges|
|Pitzer College||CA||42, National Liberal Arts Colleges|
|Pomona College||CA||4, National Liberal Arts Colleges|
|Princeton University||NJ||1, National Universities|
|Rice University||TX||17, National Universities|
|Scripps College||CA||29, National Liberal Arts Colleges|
|Smith College||MA||19, National Liberal Arts Colleges|
|Southern Arkansas University||AR||RNP, Regional Universities (South)|
|St. Olaf College||MN||53, National Liberal Arts Colleges|
|Stanford University||CA||5, National Universities|
|Swarthmore College||PA||3, National Liberal Arts Colleges|
|Thomas Aquinas College||CA||71, National Liberal Arts Colleges|
|Trinity College||CT||37, National Liberal Arts Colleges|
|Tufts University||MA||29, National Universities|
|Vanderbilt University||TN||17, National Universities|
|University of Chicago||IL||5, National Universities|
|University of North Carolina—Chapel Hill||NC||29, National Universities|
|University of Pennsylvania||PA||5, National Universities|
|University of Richmond||VA||27, National Liberal Arts Colleges|
|University of Southern California||CA||23, National Universities|
|University of Virginia||VA||25, National Universities|
|Vassar College||NY||14, National Liberal Arts Colleges|
|Washington and Lee University||VA||12, National Liberal Arts Colleges|
|Washington University in St. Louis||MO||14, National Universities|
|Wellesley College||MA||6, National Liberal Arts Colleges|
|Wesleyan University||CT||12, National Liberal Arts Colleges|
|Williams College||MA||1, National Liberal Arts Colleges|
|Yale University||CT||3, National Universities|
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Are these the same schools that claim 100 percent of their students get jobs?
Posted by: mike livingston | Feb 25, 2012 5:45:53 AM
I am surprised not seeing Berea College on the list. All needy students get complete scholarships, although all are required to work ten hours per week. It was founded in 1855 to educate poor youth in Appalacia (I believe by Cassius Clay, the abolitionist).
Posted by: Bill | Feb 25, 2012 8:59:31 AM
What about Cooper Union?
Posted by: foggyworld | Feb 25, 2012 11:45:45 AM
Mike, what schools "claim 100 percent of their students get jobs". I've never seen a statistic like that.
Posted by: anonymous | Feb 25, 2012 5:04:00 PM
What is included in "all financial needs"? Tuition, obviously. Does it also include room? board? fees? supplies? What? And does it really include all admitted undergraduate students, regardless of need?
Posted by: Mary | Feb 26, 2012 10:43:51 AM
A students financial need is after the parents pay about 40% of net income each year based on FAFSA.
Posted by: Justin Case | Feb 26, 2012 10:45:23 AM
Add USNA, USMA, USMMA, USCGA, and USAFA to list. Whether or not they report to the list.
Posted by: Harold | Feb 26, 2012 10:47:33 AM
All this list means is that those schools authorized enough loans so that there was no "unmet need" in the FA calculation.
Posted by: Blue | Feb 26, 2012 10:52:07 AM
My friend's daughter attends Cooper Union. Friend says the school is in dire financial straits and will begin charging tuition starting with next year's incoming freshman class.
Posted by: Bonnie | Feb 26, 2012 11:03:51 AM
I bet they meet 100% of their students' educational needs, too.
Posted by: MrJohnGalt | Feb 26, 2012 11:07:42 AM
Hmmm...like the "US Unemployment Rate", "Financial Need" is a politically-constructed metric carefully designed by a corrupt institution to actively obscure reality.
In the case of the of the "Unemployment Rate", the Feds methodologically ignore new labor market entrants and the long-term unemployed (not in the "labor force", dontcha know...)
In the case of "Financial Need", I'm sure that a) it is wholly calculated based upon the colleges'/Feds' tortured definitions and b) those definitions are wholly designed to serve the interests of said colleges and Feds.
It ain't "Financial Need" as understood by any normal, non-admissions-type human being walking around without a multi-volume handbook.
Posted by: sc721 | Feb 26, 2012 11:14:38 AM
"what schools "claim 100 percent of their students get jobs". I've never seen a statistic like that."
I teach in a field where there is a shortage or our graduates. Over the past year every student except one who has graduated from our program has gotten a job, in the field of their choice (not McDonalds or such), or gone to grad school within 4 months of graduation. The one student did not apply for the internship positions that were available to get experience pregraduation, he graduated with around .02 above the minimum GPA required to graduate, and he was worthless in the classroom so I could not in good faith recommend him for any jobs. He is the only student who I have ever refused to provide a reference for from my department. He is not stupid and unlikable he is just the laziest person I have ever met.
I know that MIS, CS, Industrial Sales, and Telecommunications management are all in a similar situation in the Mid West but none of us can claim 100% of our students get jobs. We can claim that 100% of our "well-qualified" students get jobs but some people just are not mature enough to follow good advice when they are undergraduates. (Full disclosure, I was not mature and an undergraduate either. I had a great time but I to fail out and grow up before I took school serious.)
Posted by: Ross | Feb 26, 2012 11:19:56 AM
"Mike, what schools "claim 100 percent of their students get jobs". I've never seen a statistic like that."
It's called "hyperbole" and it is taught in all your better book-cooking colleges. (Which is all of them...and 125% of law schools...)
Posted by: sc721 | Feb 26, 2012 11:39:53 AM
FAFSA is a bit of a joke if you aren't practically poor. The EFC it computed for me was more than twice as much as I have available to spend.
Posted by: FuzzyFace | Feb 26, 2012 11:44:21 AM
My two sons were in college from 1984 to 1990. Andy was at Dartmouth and Fred, at Auburn.
I was a USAF major making about $55K. Dartmouth costs alone were $8K per quarter. Auburn was about half that. Dartmouth dreamed up the "D" plan to stretch resources when women were admitted in the 1970. Freshmen and seniors attended fall, winter and spring. Rising juniors attended summer quarter. At one point Andy took a two quarter internship in NYC then enrolled in 5 consecutive quarters! I retired from the military and took a job in aerospace and defense. For a decade we were still broke.
When Andy graduated in 1990, his $100K education landed him an ad agency job in the city making $15K. He's now a Senior VP doing well enough that his wife quit her $250K job to stay home with the children. Fred's education was a better deal.
Posted by: Arch | Feb 26, 2012 12:44:29 PM
If you know a student with a technical aptitude and an interest in engineering, suggest the Webb Institute of Naval Architecture. Like the Ivy League and the academies, flunk a course and you are gone, but graduate and the rewards are great.
In the US there are as many vessels (ships and boats) as there are aircraft. Over 200 American colleges and universities offer degrees in aeronautical engineering, but only six offer marine engineering and naval architecture - Michigan, University of New Orleans, SUNY, USNA, MIT and Webb. Webb charges zero tuition, room and board. Every off session, employers line up to offer Webb graduates and undergraduates jobs.
Posted by: Arch | Feb 26, 2012 1:10:36 PM
When our son was going to Washington University in St. Louis during the 90's my husband would go in to pay the semester fees in person. It was not easy for us to shoulder his college bills, especially since we had two in college at the same time but the other child went to a state school. Every time he came home from paying the tuition he would rant and rave as we were charged full amounts and the foreign students would be told they needed to pay $125. We sacrificed much to pay for the foreigners education and we didn't appreciate it. We were probably paying around $20,000 instead of the $125
Posted by: Joe Blow | Feb 26, 2012 1:15:45 PM
i noticed there was no gender/race breakdown on just what groups are gettng these handouts. think i know. the rest of us are racists/sexists i guess. and this is what passes for an education? sounds like the movie where the guy woke up in the future and everybody was dumb as he!!. presto - we are there.
Posted by: daveinga | Feb 26, 2012 2:04:37 PM
All that list really means is the schools are willing to overcharge the high income parents so they can give other people's money to the low income students.
Posted by: Tom | Feb 26, 2012 3:04:09 PM
Justin is right -- the evil 1%ers are going to foot the whole bill if their kids go to any of these schools. The lists I've been looking at lately are the schools that give full rides to kids with good grades and high test scores, regardless of parental income. Merit, not need.....
Posted by: jro | Feb 27, 2012 5:36:02 AM
Actually, it's not about income redistribution. It's about capturing as much money as possible. So they charge a ton of money, allowing them to capture as much revenue as possible from rich, full-pay students and from the endowments that fund the grants that cover the low-income students' estimated need.
So they collect cash from upper-income families, from students future earnings (via loans), federal and state grants (Pell, etc), outside scholarships, and their restricted endowment funds and shift it all into their annual budgets, without having to turn away anybody (thanks to the variable pricing that results).
(And to answer one of the questions above, they base this need on the difference between the posted Cost of Attendance and the EFC calculated from the information gathered on the CSS Profile (or, in a few cases, from the FAFSA). The CoA includes room and board, books, and a number of other expenses.
Posted by: Greg | Feb 27, 2012 5:42:52 PM