The Project on Student Debt has a new chart available that details the net cost of attending one of the colleges that have established a no-loan or low-loan policy. The chart is broken down by family income so you simply have to find a college in which you have an interest, look at your family income and see approximately what your family will have to pay to attend that college. For instance, a family with income of $80,000 would pay $26,120 at Northwestern University but only $6,048 at Yale.
There is a second chart available that details for each of the colleges what income level applies to the no-loan guarantee as well as the role that loans have in covering calculated need.
The chart lists both private and public colleges. As always, cost alone should not be the only factor in considering where to attend but if you have an interest in one of the colleges listed, you should be aware of what the cost might be. I would also point out that while there is variation in what a family might pay among the colleges listed in this chart, these are some of the most generous colleges with financial aid. They are also among the most competitive colleges in the country.
If you are considering a college that is not on this list, don’t despair. There are many wonderful colleges out there and many have wonderful financial aid. The variations here, however, point out the need to ask questions about financial aid at any college you are seriously considering.
[…] Johnson points to some helpful charts that will help you figure out What Will Your College Cost You? The answer? It really depends on the college, because some are able to offer better deals than […]