Colleges with the best Financial Aid Brown University Providence Rhode Island

Brown University in Providence, Rhode Island, is a university of international repute founded in 1764. It is a highly selective independent Ivy League school that is “committed to maintaining a student body that is strong in intellect, diverse in character, and driven to achieve.” Brown educates and prepares students “to discharge the offices of life with usefulness and reputation.” In 2010 the Princeton Review named Brown as the college with the happiest students in the nation.

Brown offers a need blind admissions policy which encourages students to apply regardless of financial circumstances. It is committed to fully meeting demonstrated financial need, thus making it an affordable option for students with financial need.

The total costs of attending Brown are currently $52,030, of which $38,048 is tuition. Financial need is determined as the difference between the cost of attendance and the expected family contribution. Brown offers unique financial aid packages which negate all loans for students from families with annual incomes below $100,000. Expected family contributions vary between income and asset levels.

Families with incomes below $60,000 and assets of less than $100,000 are not required to make a parental contribution, whilst families with the same income but assets of more than $100,000 will have a reduced expected family contribution from assets only. Students from families with incomes above $100,000 may only need moderate amounts of student loans.

The expected family contribution for Brown is made up of parental contributions, student assets, and students work contributions. Students with assets must contribute 20% annually towards their education, whilst parental assets are typically limited to 6%. All students are expected to make a contribution from summer earnings.

Parental contributions are based on the income and assets of both parents where parents are divorced, a higher requirement than the federal assessment. Retirement funds are not considered as assets.

Financial aid packages comprise state and federal grants, work study and Brown scholarships. The latter are only awarded on a basis of demonstrated need and the University offers no merit or athletic scholarships. Students who are awarded the Sidney E. Frank endowed scholarships are not required to contribute the $2,500 student work component in their first year as the scholarship replaces this portion of the students self help contribution.

Students who gain outside scholarships may use them to replace their contribution from expected summer earnings, but outside scholarships may not be used to reduce the expected parental contribution.

The need blind admissions policy and Brown’s commitment to meeting demonstrated financial need, together with its unique programs for financial aid make the University one of the best for financial aid.

 Source: brown.edu & colleges.usnews