Pursuing higher education in the United States has long been a dream for many students around the world. However, the rising cost of tuition and related expenses can make it a huge challenge, especially for disadvantaged students. For many families, financial burdens often become a significant barrier to access to quality education. Still, there is hope in the form of grants and scholarships that help ease the pressure by making higher education more accessible to those in need.
In its latest report on the best colleges in the US, Forbes highlighted several colleges and universities that provide significant financial support to their students in the form of scholarships, especially for low-income students.
Source: Forbes America’s Best Colleges 2024-2025
Below is a detailed look at the top 10 US colleges and universities offering the highest average student grant aid, according to the Forbes report.
Yale University, Connecticut – Average grant: $63,523
Yale University, one of the most prestigious Ivy League institutions, leads the list with an impressive average grant of $63,523 per student. This financial support is part of Yale’s commitment to making education accessible to all admitted students, regardless of their financial background. Yale’s robust financial aid system ensures that no student is required to take out loans as part of their aid package, meaning students graduate without the burden of debt. The institution’s need-based financial aid is designed to cover not only tuition but also living expenses, books and other essentials.
Dartmouth College, New Hampshire – Average grant: $62,293
Dartmouth College, another Ivy League institution, ranks second with an average grant of $62,293. Dartmouth’s financial aid program is entirely need-based, ensuring that students from low-income families can attend without are facing significant financial difficulties. The college’s generous aid packages are a vital resource for students, covering the full cost of tuition, room and board. Dartmouth also provides work and study opportunities, helping students manage additional costs while gaining valuable experience.
Harvard University, Massachusetts – Average grant: $61,801
Harvard University, known worldwide for its academic excellence, offers an average grant of $61,801. Harvard’s financial aid policy is one of the most generous in the world, ensuring that all admitted students can afford to attend. The university meets 100% of demonstrated financial need and, like Yale, has a no-loan policy, meaning all financial aid comes in the form of grants and scholarships. Students from families earning less than $65,000 per year are not required to contribute to their education costs, making Harvard an affordable option for students from a variety of financial backgrounds.
Northwestern University, Illinois – Average grant: $61,716
Northwestern Illinois University provides an average grant of $61,716. The university’s commitment to financial affordability is evident through its comprehensive financial aid packages, which aim to meet 100% of a student’s demonstrated need. Northwestern offers a combination of grants, scholarships, and work-study programs, allowing students to focus on their education without the worry of mounting debt. The university’s loan-free policy is especially helpful for students from low-income families, as it ensures that they can graduate without accumulating significant debt.
Colby College, Maine – Average grant: $61,714
Colby College, a liberal arts institution in Maine, offers an average grant of $61,714, making it one of the most generous colleges in the country when it comes to financial aid. Colby is committed to a blind admissions policy, meaning that a student’s financial status does not affect their chances of admission. Once accepted, Colby guarantees to meet 100% of each student’s demonstrated financial need. Colby’s financial aid packages are comprehensive and cover the full cost of tuition, fees, room and board.
Wellesley College, Massachusetts – Average grant: $61,328
Wellesley College, one of the top liberal arts colleges in the US, offers an average grant of $61,328. Wellesley is committed to ensuring that financial barriers do not prevent talented students from gaining access to a first-class education. The college’s financial aid is primarily need-based, and its robust packages include grants that cover tuition, housing, and other essential costs. Like many other institutions on this list, Wellesley has adopted a no-loan policy for students from low-income families, ensuring that they can graduate debt-free.
Columbia University, New York – Average grant: $61,061
Columbia University in New York provides an average grant of $61,061, making it one of the best universities in terms of financial support. Columbia’s Office of Financial Aid is dedicated to meeting 100% of the demonstrated financial need of all its students. The university also has a no-loan policy for families earning below a certain income threshold, which means students can receive grants and scholarships without having to resort to student loans. Columbia’s generous financial aid packages enable students from all walks of life to access a world-class education.
Stanford University, California – Average grant: $60,619
Stanford University, located in California, offers an average grant of $60,619. Stanford’s financial aid policy is designed to ensure that no student has to take out loans to pay for their education. The university’s aid packages cover tuition and other costs for families who earn below a certain threshold, ensuring that financial problems do not hinder academic success. Stanford is committed to providing need-based aid, with a significant portion of the student body receiving scholarships to help cover the cost of their education.
Connecticut Wesleyan University – Average grant: $59,825
Connecticut Wesleyan University offers an average grant of $59,825. Wesleyan’s financial aid program is extremely generous and meets 100% of its students’ demonstrated financial need. The university’s aid packages include grants and work-study opportunities, allowing students to manage their educational costs without taking on significant debt. Wesleyan’s commitment to financial aid ensures that students from all economic backgrounds can afford a high-quality liberal arts education.
Princeton University, New Jersey – Average grant: $59,792
Rounding out the list is Princeton University, which offers an average grant of $59,792. Princeton’s financial aid program is among the most generous, with a policy that replaces loans with grants so students can graduate debt-free. Princeton meets 100% of the financial need of all admitted students and offers a loan-free financial aid package to ensure that financial constraints do not impede academic opportunities. Students from families earning less than $65,000 are expected to pay nothing in tuition, and many students receive scholarships covering the full cost of their education.
