Colleges That Meet 100% of Demonstrated Need

What Does That Actually Mean?

As college costs continue to rise, many families assume that private colleges with high sticker prices are simply out of reach.

But for families who qualify for need-based financial aid, that isn’t always true.

In fact, some colleges that commit to meeting 100% of demonstrated financial need may ultimately cost less than your in-state public university.

As students begin building their college list, it’s important to understand not only admissions fit, but also financial fit.

First, Let’s Define a Few Important Terms

Cost of Attendance (COA)

The Cost of Attendance (COA) is the total estimated cost of attending a college for one academic year, determined by the college.

This includes:

Direct billable costs, including tuition, fees, and room and board.
Indirect costs, which are estimates for costs that will not be on your bill, yet are real costs associated with attendance. These include books and supplies, transportation, and personal expenses.

Student Aid Index (SAI)

Formerly called the Expected Family Contribution (EFC), the Student Aid Index (SAI) represents the amount a family is expected to contribute toward college costs.

The SAI is calculated using financial information submitted through the FAFSA and, if required, the CSS Profile.

The SAI can range from -1500 to 999999. The lower the SAI, the greater the eligibility for aid.

Demonstrated Need

Demonstrated need is calculated using a simple formula:

Cost of Attendance (COA) – Student Aid Index (SAI) = Demonstrated Need

Example:

Total Cost of Attendance: $95,000 – SAI 24000 = Demonstrated Need $71,000

Families with a lower SAI have a greater demonstrated need. Families with higher income and assets generally have a higher SAI and lower demonstrated need.

As long as the SAI is lower than the total cost of attendance, there is potential eligibility for need-based aid.

What Does It Mean to “Meet 100% of Demonstrated Need”?

Colleges that meet 100% of demonstrated need commit to covering the gap between the cost of attendance and the amount your family is expected to contribute.

In most cases, financial aid packages will include a combination of grants, scholarships, loans and work-study.

Using our example above:

A family with demonstrated need of $71,000 would receive a financial aid package totaling $71,000.

That’s a significant difference, and often much more generous than families expect.