The top private and public colleges for financial aid — 5 offer average scholarships of more than $50,000

• Amid heightened concern about college access and affordability, The Princeton Review ranked colleges by how much financial aid is awarded and how satisfied students are with their packages.
• “It's really not what colleges are charging that matters, it is what actual students and families are paying after scholarships and grants are deducted,” says Robert Franek, The Princeton Reviews editor in chief.
• At some schools, the average scholarship given to students with need was more than $70,000 in 2024-25.

The federal student loan system is facing a massive overhaul, which could result in less college aid. But higher education is only getting more expensive.

To bridge the gap, some schools are offering substantial financial aid packages, according to The Princeton Review.

College tuition has surged by 5.6% a year, on average, since 1983, significantly outpacing other household expenses, a recent study by J.P. Morgan Asset Management found.

For the 2024-25 school year, tuition and fees plus room and board for a four-year private college averaged $58,600, up from $56,390 a year earlier, according to the College Board. At four-year, in-state public colleges, it was $24,920, up from $24,080.

And yet, the Trump administration's budget proposal for fiscal 2026 calls for scaling back financial aid, including reducing the maximum federal Pell Grant award to $5,710 a year from $7,395, as well as curbing the federal work-study program. The proposed cuts would help pay for the landmark tax and spending bill Republicans in the U.S. Congress hope to enact.

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“Inflation and cuts in federal and state spending are causing schools to increase tuition, in some cases dramatically,” said Robert Franek, editor in chief of The Princeton Review.

However, “it's really not what colleges are charging that matters, it is what actual students and families are paying after scholarships and grants are deducted — that's what students and their parents need to focus on,” Franek said.

Grants are considered the most desirable kind of financial assistance because they typically do not need to be repaid. “Grants are the magic word,” Franek said.

This year, there are added concerns about the economy and dwindling federal loan forgiveness options. As a result, price is now a bigger consideration among students and parents when choosing a college, other reports also show.

To that end, The Princeton Review ranked colleges by how much financial aid is awarded and how satisfied students are with their packages. The 2025 report is based on data from its surveys of administrators and students at more than 650 colleges in the 2024-25 school year.

Top 5 private colleges for financial aid

Among the top five private schools on The Princeton Review's list, the average sticker price — including tuition and fees plus room and board — was around $90,000 in 2024-25. The average scholarship grant awarded to students with need was more than $66,000.

1. Williams College

Location: Williamstown, Massachusetts

Sticker price: $90,750

Average need-based scholarship: $74,113

Average total out-of-pocket cost: $16,637

2. California Institute of Technology

Location: Pasadena, California

Sticker price: $86,181

Average need-based scholarship: $71,378

Average total out-of-pocket cost: $14,803

3. Yale University

Location: New Haven, Connecticut

Sticker price: $87,150

Average need-based scholarship: $69,164

Average total out-of-pocket cost: $17,986

4. Reed College

Location: Portland, Oregon

Sticker price: $87,010

Average need-based scholarship: $50,413

Average total out-of-pocket cost: $36,597

5. Pomona College

Location: Claremont, California

Sticker price: $91,134

Average need-based scholarship: $67,027

Average total out-of-pocket cost: $24,107

Top 5 public colleges for financial aid

Among the five public schools on this list, the average scholarship grant awarded in 2023-24 to students with need was more than $20,000.

1. University of North Carolina at Chapel Hill

Location: Chapel Hill, North Carolina

Sticker price (in-state): $24,134

Average need-based scholarship: $19,921

Average total out-of-pocket cost: $4,213

2. New College of Florida

Location: Sarasota, Florida

Sticker price (in-state): $20,271

Average need-based scholarship: $16,483

Average total out-of-pocket cost: $3,788

3. University of Michigan, Ann Arbor

Location: Ann Arbor, Michigan

Sticker price (in-state): $34,176

Average need-based scholarship: $26,860

Average total out-of-pocket cost: $7,316

4. University of Virginia

Location: Charlottesville, Virginia

Sticker price (in-state): $40,313

Average need-based scholarship: $27,233

Average total out-of-pocket cost: $13,080

5. Truman State University

Location: Kirksville, Missouri

Sticker price (in-state): $23,076

Average need-based scholarship: $10,889

Average total out-of-pocket cost: $12,187