U.S. News & World Report included the University on its list of 63 out of more than 1,700 schools surveyed that claim to meet their students’ full financial need. The information, released last Wednesday, compiles the schools that claim to meet 100 percent of need for all students.
Determination of financial need typically begins with calculations of Expected Family Contribution using information from the Federal Application for Federal Student Aid, although different schools may calculate the EFC with their own methods. Colleges may also choose to offer either grants or subsidized loans to students in order to meet the gap between the EFC and the cost of yearly attendance.
Other universities may have struggled to meet the financial need of students during the economic recession due to shrinking endowments and decreases in donations and funding. The University, however, has continued its no-loan policy, which it implemented in 2001.
Other colleges on the list include Harvard, Massachusetts Institute of Technology, Columbia, Cornell and Dartmouth.
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