Juniors and Seniors: Finding Financially Friendly College
Finding Financially Friendly Colleges
What is a financially friendly college?
- Financial need met. Your "financial need" is the amount that colleges calculate you can't afford to pay. Some colleges cover 100 percent of your financial need, but many cover much less.
- Merit aid offered. Merit aid is money you don't have to pay back. You can search for colleges based on the percent of freshmen receiving merit aid -- overall or only freshmen without financial need.
- Student loan debt. What is the average student loan balance students have when they graduate? If the average loan balance is lower, it may mean that the college is more generous with grants and scholarships.
Is financial aid reduced after freshman year?