When family income is below certain limits, schools like MIT, Harvard, and Stanford (and even public institutions like UCB) will waive all tuition for admitted students. Excellent students from families of modest means will often get an admissions boost and pay less for a diploma from an elite college than for a similar credential from a less prestigious in-state public university – sometimes far less.
Many poor families erroneously assume that top-flight schools are beyond their financial reach, and that the only realistic option is junior college followed by a transfer to a state university. In fact, for low-income students sharp enough to gain admission, attending an elite school can often be their least expensive option.
Click here for an article listing schools offering free rides and “no-loans grant-only” aid to top students from lower-income families.
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