Yahoo Finance Escape Student Loan Debt by Attending One of These Top Colleges for Financial Aid
Prospective college students not only have to contend with the stress of getting in (or not getting in) to the school of their choice, but they then need to figure out how they will pay to attend.
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For the 2022-2023 academic year, the average cost of tuition and fees plus room and board, books and other expenses for a four-year private college totaled $57,570, while for four-year, in-state public colleges, it was more than $27,940, according to the College Board.
A recent Princeton Review survey found that 98% of students and their families will need financial aid to help pay for college, and 8% said they will choose a college based on how affordable it is. For those looking to lighten the student loan burden, attending a school that offers attractive financial aid packages can be a major draw.
Here are the top public and private colleges for financial aid, based on data from The Princeton Review, as reported by CNBC.
Public Schools With the Most Financial Aid
The following public schools, ranked from 5 to 1, offer the most for students looking for affordable education and a good amount of financial aid.
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5. City University of New York -- Hunter College
Location: Manhattan, New York
Sticker price per year (in-state): $23,447
Average need-based scholarship: $8,892
Total out-of-pocket cost: $14,555
4. New College of Florida
Location: Sarasota, Florida
Sticker price per year (in-state): $17,207
Average need-based scholarship: $13,540
Total out-of-pocket cost: $3,667
3. Truman State University
Location: Kirksville, Missouri
Sticker price per year (in-state): $18,949
Average need-based scholarship: $9,576
Total out-of-pocket cost: $9,373
2. University of North Carolina at Chapel Hill
Location: Chapel Hill, North Carolina
Sticker price per year (in-state): $22,014
Average need-based scholarship: $15,704
Total out-of-pocket cost: $6,310
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1. University of Virginia
Location: Charlottesville, Virginia
Sticker price per year (in-state): $36,806
Average need-based scholarship: $26,662
Total out-of-pocket cost: $10,144
Private Schools With the Most Financial Aid
The following private schools, ranked from 5 to 1, may cost a bit more but still offer an attractive amount of aid to students who qualify.
5. Vanderbilt University
Location: Nashville, Tennessee
Sticker price per year: $68,980
Average need-based scholarship: $54,417
Total out-of-pocket cost: $14,563
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4. Pomona College
Location: Pomona, California
Sticker price per year: $82,700
Average need-based scholarship: $51,856
Total out-of-pocket cost: $30,844
3. Yale University
Location: New Haven, Connecticut
Sticker price per year: $83,880
Average need-based scholarship: $61,067
Total out-of-pocket cost: $22,813
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2. Princeton University
Location: Princeton, New Jersey
Sticker price per year: $79,090
Average need-based scholarship: $62,844
Total out-of-pocket cost: $16,246
1. Vassar College
Location: Poughkeepsie, New York
Sticker price per year: $81,360
Average need-based scholarship: $58,722
Total out-of-pocket cost: $22,638
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Josephine Nesbit contributed to the reporting for this article.
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This article originally appeared on GOBankingRates.com: Escape Student Loan Debt by Attending One of These Top Colleges for Financial Aid
