What's The Best Deal Out Of Princeton Review's Dream Colleges?

Imagine getting an acceptance letter and paying for tuition weren’t an issue when it came to college.

 

A dream scenario right? Well, if that were the case, Harvard might have to start building a few more freshmen dorms. A majority of the 8,776 students in The Princeton Review’s annual College Hopes & Worries Survey named the Cambridge, Mass. Ivy League school as the institution they would most like to attend. (Stanford, Princeton, New York University, and Yale rounded out the list.)

 

While it is fun to fantasize, the reality is that cost is an issue when choosing a college. The survey also stated that 71% of respondents expect the cost of their degree to exceed $75,000, and 84% said financial aid will be “very necessary.” Also, The Princeton Review reports that when asked what their biggest worry about applying to college is, 37% selected the answer “will get into first-choice College, but won’t have sufficient funds/financial aid to attend it” and 27% chose “will take on major loan debt for college.”

 

When it comes to choosing the right school, families should sit down and discuss financial logistics, experts say. According to Kiersten Murphy, of Murphy College Consultants, LLC, “The bottom line is that families have to evaluate how much out of pocket expenses they will have and, most families air on the side of what is more affordable.”

 

MainStreet decided to look at how these dream colleges stack up when it comes to cost and financial aid. Of the five, Princeton and Harvard split the top spots with Harvard offering the highest average financial aid package and Princeton coming in with the lowest average debt at graduation. Here's MainStreet’s take on all five of The Princeton Review's “Dream Schools”:

 

 

Princeton

 

* Tuition/ Room & Board: $45,695

* Average Financial Aid Package: $31,114

* % That Receive Aid: 55

* Average Indebtness at Graduation: $5,592

 

 

 

Harvard

 

* Tuition/ Room & Board: $45,695

* Average Financial Aid Package: $37,137

* % That Receive Aid: 56

* Average Indebtness at Graduation: $9,290

 

 

 

Stanford

 

* Tuition/ Room & Board: $45,608

* Average Financial Aid Package: $32,413

* % That Receive Aid: 74

* Average Indebtness at Graduation: $16,728

 

 

 

 

 

Yale

 

* Tuition/ Room & Board: $45,000

* Average Financial Aid Package: $28,500

* % That Receive Aid: 48

* Average Indebtness at Graduation: $12,249

 

 

NYU

 

* Tuition/ Room & Board: $47,490

* Average Financial Aid Package: $23,284

* % That Receive Aid: 53

* Average Indebtness at Graduation: $33,637

 

Sources: (www.collegeboard.com), the financial aid offices of the individual colleges and universities.


 

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