Recent studies indicate that while some colleges have sticker prices above $100,000, the average amount families actually pay is around $35,000 for the 2025-26 academic year, largely due to financial aid. According to Sallie Mae's report, families utilize savings, scholarships, and loans to manage costs.
Robert Franek from The Princeton Review emphasizes that merit aid is often underutilized, despite institutional grant aid increasing by 24% to $85.1 billion over the past decade. This financial aid landscape is crucial, as nearly 89% of students would have chosen different colleges if offered more scholarship aid.
The Princeton Review's latest rankings showcase institutions that effectively meet financial needs, with Washington and Lee University being the most expensive yet providing an average need-based scholarship of nearly $72,000, reducing out-of-pocket costs significantly.
Other top colleges, such as Princeton and Amherst, also demonstrate high levels of financial support, making them attractive options for prospective students