In 2024, it is no secret that attending college can be expensive – especially if you are looking at elite universities like the Ivy Leagues.
But stop your panic! We’re here to tell you that you don’t have to take the cost of getting a college education at face value. There are thousands of financial aid opportunities available in the form of scholarships, in addition to financial aid given by the school itself.
Many are surprised to learn that Ivy league schools are actually fairly affordable options when it comes to need-based aid, because these schools tend to have bigger budgets to pull from when giving financial aid packages. Many of the Ivies even offer fully covered tuition to students who meet certain criteria.
Please note, however, that Ivy League universities do not award merit, athletic, or talent-based financial aid and scholarships. They only offer need-based aid. Read to the end for more information on how exactly to know what you qualify for.
Today, we are going to break down the Ivy League universities’ cost and average financial aid given out to students in 2024. Then, we will give you five tangible tips for navigating the financial aid landscape as you apply to colleges.
Princeton:
- Undergraduate fee package (which includes tuition, room and board): $86,700
- Average cost of attendance after aid: approximately $13,000
- Families with incomes below $65,000 are not expected to pay tuition or room/board
Harvard:
- Undergraduate fee package (which includes tuition, room and board): $82,866
- Average cost of attendance after aid: $18,366
- In 2024, 55% of students received some Harvard scholarship aid.
- Families with incomes below $85,000 are not expected to pay tuition.
Yale:
- Undergraduate fee package (which includes tuition, room and board): $87,150
- Average cost of attendance after aid: $17,373
- Around 51% of undergraduates receiving need-based aid from institution
- Families with incomes below $75,000 are not expected to pay tuition and fees
University of Pennsylvania:
- Undergraduate fee package (which includes tuition, room and board): $92,288
- Average cost of attendance after aid: $14,851
- Nearly half on some type of need-based financial aid package
- Families with incomes below $75,000 are not expected to pay tuition and fees
Brown University:
- Undergraduate fee package (which includes tuition, room and board): $88,856
- Average cost of attendance after aid: $25,028
- Brown uses FAFSA and CSS information to determine need-based aid, not an income cutoff
Columbia University:
- Undergraduate fee package (which includes tuition, room and board): $89,587
- Average cost of attendance after aid: $18,544
- About half of incoming first-year students receive grants from Columbia
- Families with incomes below $66,000 are not expected to pay tuition and fees
Cornell:
- Undergraduate fee package (which includes tuition, room and board): $88,742
- Average cost of attendance after aid: $30,883
- Families with incomes below $75,000 are not expected to pay tuition and fees
Dartmouth:
- Undergraduate fee package (which includes tuition, room and board): $87,315
- Average cost of attendance after aid: $20,175
- Families with incomes below $65,000 are not expected to pay tuition and fees, and less than $125,000 will most likely have the cost of tuition covered by the university.
Top 5 Tips for Ivy League Financial Aid
1. Use the colleges’ Financial Aid calculator listed on their websites.
Most colleges, including the Ivies, have a need-based financial aid calculator on their
official websites. These are a great resource if you are looking to get a ballpark figure of what you would qualify for.
2. Apply for both FAFSA (Free Application for Federal Student Aid) and CSS (College Scholarship Service)
You may have heard of these two platforms for determining financial aid, but be sure to
check which one the colleges you are considering use. FAFSA helps determine how much federal aid you are eligible for, while CSS is issued by private universities to determine the types of non-federal aid (scholarships, grants, etc) you qualify for. You might need to complete both.
3. You can appeal a need-based offer given to you by a school.
If you had a specific extenuating circumstance that may not have been represented in your financial aid application, such as the death of a parent, sudden job loss, or loss of home in a natural disaster, there is a chance you can appeal the financial aid offer you received. Don’t hesitate to call your future university’s financial aid office to learn more about that specific institution’s policies.
4. Apply to paid internships to gain extra income.
A practical way to offset some costs of an Ivy League education is by securing a paid internship. These positions not only help financially but also enhance your professional skills.
Where to Look:
- University Career Services: Start with your institution’s career center, which often has exclusive listings of internship opportunities.
- Online Resources: Use online resources like this article on 40 internships opportunities for high school students
Be proactive in using both university and online resources to locate internships that provide valuable experience and financial benefits.
5. While the Ivy Leagues may not offer merit-based scholarships or aid, you can still research external opportunities to apply for.
Just because Ivy League schools don’t offer merit-based scholarships for all of your fantastic achievements doesn’t mean you can’t get aid from other sources for these accolades! Be sure to check out any local organizations offering scholarships and the sites below for great national options:
- Niche Scholarship Finder
- Big Future Scholarship Finder (College Board)
- Career One Stop
If the cost of attending an Ivy League is still overwhelming to you, we encourage you to think about applying to a few other schools in different categories. You might be able to receive more scholarships and aid from Private or Public universities that are still in the top 25 than you do from the Ivies. This strategy of a well-balanced college list can help make the college application process a bit less stressful overall.
We hope this helped clarify the cost of Ivy League universities for this admissions year. Don’t forget to reach out to a college advisor.
Bonus Resource: 12 Tips for Finding the Best College Essay Coach (2024)
