Wouldn't it be amazing if that super expensive college you were just accepted into said, "Hey there, new friend – thanks for all your hard work saving, scrimping and scholarship searching but we’ll take it from here, financially"? It can happen...kind of.
When a student fills out the FAFSA, a figure known as the expected family contribution (EFC) – the amount a student or family can reasonably spend on one year of college – is calculated using family income, number of children, amount of assets and other factors. There is sometimes a gap between the EFC and the final cost of college but 62 schools have reported to U.S. News that, on average, 100 percent of their admitted full-time undergraduate students' financial need was met for fall 2010 by some combination of aid (work-study, merit scholarships, grants, subsidized loans, etc.).
Now, we're not going to list every single college and university that reported these claims (you can check out U.S. News' site for that) but we will say that some well-known schools like Yale, Vanderbilt and Grinnell – the latter of which has never failed to meet full need for a student in 20 years, according to financial aid director Arnold Woods – have made the cut. Way to go and keep up the good work!
And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!