Athletic scholarships are a form of merit aid that take athletic talent into account.
Financial aid is practically non-existant to upper-middle class Americans.
|School||No-loan financial aid for families meeting these eligibility requirements:|
|Amherst College||No max of income|
|Arizona State University||Arizona residents with family income of up to $25,000|
|Bowdoin College||No max of income|
|Bridgewater State College||Offers unsubsidized or subsidized loans to any student who files the FAFSA.|
|Brown University||Family income below $100,000|
|Cal Tech||Annual income below $60,000|
|Claremont McKenna College||No max of income|
|Colby College||No max of income; all students|
|Columbia University||All students eligible for financial aid regardless of family income|
|Cornell University||Annual income below $75,000|
|Dartmouth College||Annual income below $75,000|
|Davidson College||No max of income|
|Duke University||Annual income below $40,000|
|Emory University||Annual income below $50,000|
|Haverford College||First-year students with financial need.|
|Harvard University||Annual income below $60,000|
|MIT||Annual income below $75,000|
|University of Maryland, College Park||Maryland resident with 0 EFC.|
|Michigan State University||Michigan resident with family incomes at or below the federal poverty line.|
|Northwestern University||Family income lower than approx. $55,000.|
|North Carolina State University||Income less than 150% of the poverty line. Requires the family to have "limited assets," regardless of state residency.|
|University of Chicago||Students who demonstrate financial need and whose annual family income totals $75,000 or less.|
|UNC Chapel Hill||200% of federal poverty line ($24,000 to $37,000)|
|University of Pennsylvania||Annual income below $100,000|
|Pomona College||No max of income|
|Princeton University||No max of income|
|Rice University||Annual income below $60,000|
|Stanford University||Annual income below $45,000|
|Swarthmore College||Anyone with financial need|
|Tufts University||Annual income below $40,000|
|Vassar College||Annual income below $60,000.|
|University of Virginia||200% of federal poverty line ($24,000 to $37,000)|
|Washington and Lee University||No max of income|
|Washington University in St. Louis||Annual Income below $60,000|
|College of William and Mary||$40,000 (VA residents only)|
|Williams College||No max of income|
|Yale University||Annual income below $45,000|
|School||Loan Cap for students meeting these eligibility requirements:|
|Brown University||Family earning less than about $125,000: Caps total loans to $3,000 per year. Family earning up to $150,000: Caps total loans to $4,000 per year. Family earning up to $150,000: Caps total loans to $5,000 per year.|
|University of Chicago||"Those whose families make between $60,000 and $75,000 will have 50% of their loans replaced."|
|Cornell University||Undergraduates with family incomes less than $120,000 will have loans limited to $3,000 per year.|
|Duke University||Undergraduate students with family income between $40,000 and $100,000 will have their loans limited on a graduated basis ($1,000 to $4,000 per year) and loans "frozen" at the freshman level.|
|Emory University||"Annual assessed incomes of $50,000 to $100,000 who demonstrate need for financial aid. The program caps total need-based loans at $15,000, assuming on-time progression toward graduation with up to eight semesters of study.|
|Grinnell College||"Beginning in the 2008-09 academic year, need-based loans for all eligible students will be capped at $2,000 per year.|
|University of Maryland, College Park||Students with need-based financial aid will have their loans capped at $15,900 for their four years of attendance.|
|Middlebury College||Family income below $40,000: $1,500 per year; family income $40,000 to $80,000: $2,500 per year; family income above $80,000: $3,500 per year.|
|Rice University||Students with a family income below $60,000 will not have loans. Families with incomes over $60,000 will have their loans capped at about $14,500.|
|University of Virginia||200% of federal poverty line ($24,000 to $37,000). Loans are capped at 25% of the in-state cost of attendance, regardless of state residency.|
To qualify for federal student aid, a student must file the Free Application for Federal Student Aid (FAFSA). The FAFSA uses a calculation taking into account income and assets to determine a student's Expected Family Contribution (EFC) toward his or her college education for that year. Colleges use the EFC to decide what types of financial aid a student is eligible to receive. Students must complete the FAFSA each year to be considered for financial aid.
The EFC also takes into consideration any participation in college savings or pre-paid tuition plans. In the past, financial aid officers weighed pre-paid tuition plans more heavily than other 529 college savings plans when determining a student’s eligibility. In February 2006, Congress passed legislation to treat both types of plans evenly.
State governments also typically provide some types of need- and non-need-based aid, consisting of grants, loans, work-study programs, tuition waivers, and scholarships. Individual colleges and universities may provide grants and need- and merit-based scholarships. Students requiring financial aid beyond what is offered by their institution may consider a private (alternative) education loan, available from most large lending institutions. Typically, education loans obtained through the federal government have lower interest rates than private education loans.
Institutions may also offer their own student financial assistance, in the form of need- or merit-based aid, as well as endowed scholarships (with varying need and/or merit-based criteria). Some schools may only require the FAFSA; some may also require an additional need-based analysis document, such as the CSS/Profile, to apply for such funds to apply a more stringent need analysis for the rationalization of institutional funds.
In Germany, the main source of financial aid is provided by the Bundesausbildungsförderungsgesetz, colloquially known as BAFöG.