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Private and public colleges that top the list of financial aid

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Private and public colleges that top the list of financial aid

In the country’s best colleges, the last season of applications was the most competitive of all time, but admission to several schools may have been an easy part for students.

They now have less than a week to decide which school they will attend before National Decision Day on May 1, the deadline for high school graduates to complete a plan for next year.

For many, the biggest challenge remains how they will pay for the diploma.

Including tuition, accommodation and meals, books and other expenses, the average estimated total cost in 2021-22 for students of four-year private colleges is about $ 55,800 per year; for state students at four-year public colleges it is more than $ 27,300, according to the college council.

Most college students and their parents talk about accessibility and dealing with it debt burden that often goes hand in hand with a college diploma is their main problem, according to The Princeton Review’s 2022 College Hopes and Concerns poll.

A whopping 98% of families said so financial aid would be necessary to cover costs, and 80% said it was “extremely” or “very” necessary, found The Princeton Review.

“Just the thought of financial aid scares the average student and parents,” said Robert Frank, editor-in-chief of The Princeton Review. “But the good news is that there is a lot of help, and many schools are incredibly generous.”

More of the changes in life:

Here’s a look at other stories that offer a financial perspective on important life stages.

The Princeton Review evaluates colleges by the amount of financial aid and how satisfied students are with their packages. The 2022 report is based on data from surveys of administrators and students of 650 colleges in the 2020-21 academic year.

When it comes to issuing scholarships and grants that should never be repaid, private schools usually have more money to spend, Frank said. “They can use their finances to allow students to study in college without significant financial burden.”

In the five schools that rank first in the ranking of the best private colleges for financial aid Princeton Review for 2022, the average scholarship is more than $ 57,000.

“These schools do the almost impossible, which lowers the cost below what a student can expect to pay for one year of study at a public college,” Frank said.

Top 5 Private Colleges for Financial Aid

Blair Hall at Princeton University

Loop Images / Universal Images Group via Getty Images

1. Princeton University
Location: Princeton, New Jersey
Sticker cost: $ 74,190
Average need-based scholarship: $ 61,928
Total out of pocket: $ 12,262

2. Yale University
Location: New Haven, Connecticut
Sticker cost: $ 77,750
Average need-based scholarship: $ 61,067
Total out of pocket: $ 16,683

3. Pamona College
Location: Pomona, California
Sticker cost: $ 71,980
Average need-based scholarship: $ 55,485
Total out of pocket: $ 16,495

4. Vanderbilt University
Location: Nashville, Tennessee
Sticker cost: $ 68,980
Average need-based scholarship: $ 54,417
Total out of pocket: $ 14,563

5. Vassar College
Location: Poughkeepsie, New York
Sticker cost: $ 75,920
Average need-based scholarship: $ 53,699
Total out of pocket: $ 22,221

Top 5 Public Colleges for Financial Aid

University of Virginia

Source: Dan Addison UVA University Communications

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