PERSON HIGH
GO ROCKETS!
MEETING DEMONSTRATED NEED
Cost of Attendance
- Expected Family Contribution (EFC)
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= Demonstrated Need
In terms of financial aid, demonstrated need is the gap between the cost of attending college and the amount that the federal government determines you can pay. Most importantly, not all colleges meet full demonstrated need.
For example, if the cost of attendance is $10,000 and your family's EFC is $1,000, your demonstrated need is $9,000. A college can choose to give you...
1) a $9,000 grant (money that does not have to be paid back); or
2) a $6,000 grant and a $3,000 loan (money that does have to be paid back); or
3) a $3,000 grant and a $3,000 loan, and leave a $3,000 gap to cover on your own.
Some colleges offer financial aid programs that eliminate options #2 and #3.
Look below.
Full Demonstrated Need
Colleges that meet 100% of demonstrated need look either like option 1 or option 2 above. They don't leave a gap in aid and cover all costs up to the full cost of attendance through grants, work-study, and sometimes loans.
National Universities
Boston College (MA)
Brown University (RI)
California Institute of Technology (CA)
Columbia University (NY)
Cornell University (NY)
Dartmouth College (NH)
Duke University (NC)
Emory University (GA)
Franklin W. Olin College of Engineering (MA)
Georgetown University (DC)
Harvard University (MA)
Johns Hopkins University (MD)
Massachusetts Institute of Technology (MA)
Northwestern University (IL)
Princeton University (NJ)
Rice University (TX)
Stanford University (CA)
Tufts University (MA)
University of Chicago (IL)
University of North Carolina – Chapel Hill (NC)
University of Notre Dame (IN)
University of Pennsylvania (PA)
University of Rochester (NY)
University of Southern California (CA)
University of Virginia (VA)
Vanderbilt University (TN)
Wake Forest University (NC)
Washington University in St. Louis (MO)
Yale University (CT)
National Liberal Arts Colleges
Amherst College (MA)
Barnard College (NY)
Bates College (ME)
Berea College (KY)
Bowdoin College (ME)
Bryn Mawr College (PA)
Carleton College (MN)
Claremont McKenna College (CA)
Colby College (ME)
Colgate University (NY)
College of the Holy Cross (MA)
Connecticut College (CT)
Davidson College (NC)
Franklin and Marshall College (PA)
Gettysburg College (PA)
Grinnell College (IA)
Hamilton College (NY)
Harvey Mudd College (CA)
Haverford College (PA)
Kenyon College (OH)
Macalester College (MN)
Middlebury College (VT)
Mount Holyoke College (MA)
Oberlin College (OH)
Occidental College (CA)
Pitzer College (CA)
Pomona College (CA)
Reed College (OR)
Scripps College (CA)
Smith College (CA)
St. Olaf College (MN)
Swarthmore College (PA)
Trinity College (CT)
Union College (NY)
University of Richmond (VA)
Vassar College (NY)
Washington and Lee University (VA)
Wellesley College (MA)
Wesleyan University (CT)
Williams College (MA)
Regional Colleges (Midwest)
Bethany College (KS)
Carroll University (WI)
Regional Colleges (North)
United States Merchant Marine Academy (NY)
No Loan Policies
No-loan financial aid policies, which look like option 1, go one step further: they meet 100% of demonstrated need with grant money and work-study only. Provided that the family can meet the EFC without loans, this gives a student the opportunity to graduate debt-free.
No Loan Schools for Everyone
for all students regardless of family income or state residency:
Amherst College (MA)
Bowdoin College (ME)
Colby College (ME)
Columbia University (NY)
Davidson College (NC)
Harvard University (MA)
Pomona College (CA)
Princeton University (NJ)
Stanford University (CA)
Swarthmore College (PA)
University of Chicago (IL)
University of Pennsylvania (PA)
Vanderbilt University (TN)
Washington and Lee University (VA)
Yale University (CT)
Regional No Loan Schools
for students from a particular regional area and who meet income qualifications (only North Carolina Schools included):
Appalachian State University (Appalachian Access) – North Carolina residents entering as full-time freshmen students with incomes below the Federal Poverty Line
North Carolina State University (Pack Promise) – North Carolina residents with family incomes less than 150% of the Federal Poverty Line and “limited assets” (changed to maximum $3,500 in loans per year for up to eight semesters)
UNC- Chapel Hill (Carolina Conveant) – US Citizens with family incomes less than 200% of the Federal Poverty Line
UNC-Greensboro (UNCG Guarantee) – North Carolina residents with family incomes below the Federal Poverty Line AND 1000 or above on the SAT (CR & M) or a composite score of a 21 on the ACT
For more information, visit this website.
No Loan Schools for Low Income Students
for students whose parents earn below a certain income threshold only:
Brown University (<$100,000)
California Institute of Technology [Caltech] (<$60,000)
Connecticut College (<$50,000)
Cornell University (<$60,000)
Dartmouth University (<$100,000)
Duke University (<$60,000)
Emory University (<$50,000)
Haverford College (<$60,000)
Lafayette College (<$50,000)
Lehigh University (<$50,000)
Massachusetts Institute of Technology [MIT] (<$75,000)
Northwestern University (<$55,000)
Rice University (<$80,000)
Tufts University (<$60,000)
Vassar College (<$60,000)
Washington University in St. Louis (<$75,000)
Wellesley College (<$60,000)
Wesleyan University (<$40,000)
