29 Elite Colleges You Can Actually Afford

This article was originally written for FirstGenerationStudent.com, now a part of ImFirst.org.

For many first-generation and low-income students, dreams of attending an elite college or university are just that: dreams. Students and their parents fear they won’t be accepted, or that even if they are, there’s no way they’ll ever be able to afford tuition. But the reality is that while elite schools are very selective in their admissions, once you’re in, they are often surprisingly affordable.

Finding Affordable Schools

Our list of elite schools highlights four-year colleges and universities that are both highly selective and affordable. Each admits 25 percent or fewer of students who apply, and offers an average net tuition price of $12,000 or less to students with incomes of $30,000 and below. They represent the best value in education for high-achieving students that come from a low-income background.

Understand the Numbers

These elite schools are ranked from lowest average net price for the lowest-income students to the highest net price for these students. While published tuition rates may be significantly higher, the net prices are what students can expect to pay after scholarships, grants and other awards. We’ve also listed important data including graduation rates and cohort default rates. These rates are important to understand: graduation rates indicate the number of students who actually receive a degree (the higher this percent, the better); default rates show how many former students are defaulting on (not paying back) their student loans (the lower this percent, the better).

www.harvard.edu | Cambridge, MA

Did you know? First-generation students can find support from the First Generation Harvard Alumni group, which offers mentoring and networking opportunities. Harvard provides generous financial aid packages that make it possible for 100 percent of students to graduate debt free, and 20 percent of Harvard families pay absolutely nothing to attend.

www.amherst.edu | Amherst, MA

Did you know? Amherst College’s admissions approach is “high-need affirmative,” which means if all other factors are equal, the college will give preference to first-generation students from low-income backgrounds.

www.duke.edu | Durham, NC

Did you know? Duke University gives admission preference to first-generation college students. The university participates in the Say Yes to Education program, offering full tuition support to accepted Say Yes scholars with an annual family income of $75,000 or below.

www.olin.edu | Needham, MA

Did you know? Olin College is committed to meeting full financial need, offering an $80,000 tuition scholarship for eight semesters of study to every student. More than half of Olin students qualify for additional need-based financial aid.

www.stanford.edu | Stanford, CA

Did you know? First-generation students at Stanford University can find support for their unique needs from the Diversity and First Gen Office and the First Generation, Low Income Partnership (FLIP).

www.bowdoin.edu | Brunswick, ME

Did you know? The Explore Bowdoin program encourages high-achieving students from diverse backgrounds to visit campus by covering the entire cost of the trip, including transportation and meals.

www.mit.edu | Cambridge, MA

Did you know? MIT’s First Generation Project is a network for first-generation students that provides opportunities for mentorship and community service, study breaks and more.

www.brown.edu | Providence, RI

Did you know? Students can join the Brown University First Generation College Student Group for academic and social support. Families with incomes of $60,000 or less require no parental contribution, and Brown has a no-loan policy for students whose family incomes are less than $100,000.

www.williams.edu | Williamstown, MA

Did you know? Williams College’s Dean of First Generation Initiatives engages first-generation students with “Lunch and Learn” sessions, a first-generation student advisory board and the Williams Firsts peer mentoring program. The college meets 100 percent of every student’s demonstrated financial need, and low-income, first-generation and traditionally underrepresented students may qualify for an expenses-paid visit to campus through the Windows on Williams program.

www.caltech.edu | Pasadena, CA

Did you know? Low-income students may qualify for Cal Grant B, which offers assistance with tuition, fees and living costs.

www.vassar.edu | Poughkeepsie, NY

Did you know? Vassar meets 100 percent of the demonstrated need of all admitted students, and eliminates or reduces loans in the financial aid packages of low-income families. Some families receive financial aid awards of more than $60,000 from Vassar.

www.wustl.edu | Saint Louis, MO

Did you know? Washington University in Saint Louis’ TRiO Student Support Services provide resources to first-generation and low-income students with advising, coaching, peer mentors and more. Students may also qualify for monetary assistance through TRiO.

www.rice.edu | Houston, TX

Did you know? The Rice Tuition Grant is given to students who have remaining financial need-based eligibility after all other awards.

www.haverford.edu | Haverford, PA

Did you know? Haverford College’s Chesick Scholars program targets exceptional students from first-generation, under-resourced or underrepresented backgrounds. This program provides 15 scholars with intensive mentoring and support.

www.vanderbilt.edu | Nashville, TN

Did you know? Vanderbilt University meets 100 percent of demonstrated financial need, and financial aid awards do not include loans. The Opportunity Vanderbilt program includes only grant assistance and work-study packages for undergraduate students.

www.upenn.edu | Philadelphia, PA

Did you know? The University of Pennsylvania’s Pennsylvania College Achievement Program supports academically talented students from low-income or first-generation backgrounds with coaching, academic support and assistance in meeting personal and educational goals.

www.wesleyan.edu | Middletown, CT

Did you know? Wesleyan University’s First Generation College Student Coalition is a community of support for first-generation college students of all backgrounds.

www.yale.edu | New Haven, CT

Did you know? For families with less than $200,000 in annual income, Yale is one of the most affordable schools in America. The university meets 100 percent of demonstrated financial need without student loans, and families with incomes of $65,000 per year or less are not expected to make a financial contribution.

www.berkeley.edu | Berkeley, CA

Did you know? The Educational Opportunity Program at Berkeley provides first-generation and low-income students with guidance and resources for success.

www.dartmouth.edu | Hanover, NJ

Did you know? Several programs at Dartmouth, includin the Dartmouth College First Generation Network, are designed to support first-generation college students. Dartmouth eliminates tuition for undergraduate families with incomes below $75,000.

www.princeton.edu | Princeton, NJ

Did you know? The Princeton First Generation Discussion and Support group provides a safe space where first-generation students can share their experiences.

www.middlebury.edu | Middlebury, VT

Did you know? Middlebury College has a need-blind admissions policy, and aid packages meet 100 percent of students’ demonstrated financial need each year. Student loans in Middlebury’s financial aid package are offered at graduated levels depending on family income.

www.georgetown.edu | Washington, DC

Did you know? Georgetown University’s Community Scholars Program enrolls first-generation college students in a five-week summer academic program that includes courses, workshops and networking. Community Scholars are supported throughout their Georgetown experience with academic advising, mentoring, seminars and more.

www.cooper.edu | New York, NY

Did you know? Cooper Union offers half-tuition scholarships to all accepted undergraduates, regardless of financial need.

www.cornell.edu | Ithaca, NY

Did you know? Families with a total family income of less than $60,000 and total assets of less than $100,000 will have no parent contribution. Need-based loans offered in Cornell financial aid packages are capped based on family income.

www.hmc.edu | Claremont, CA

Did you know? Through the Future Achievers of Science and Technology program, students from traditionally underrepresented populations can visit Harvey Mudd College for free and take part in lab demos, workshops and other activities. Participants are also granted an application fee waiver.

www.barnard.edu | New York, NY

Did you know? Barnard College was ranked 5th among elite colleges with the highest enrollment of low-income students.

www.tufts.edu | Medford, MA

Did you know? The Bridge to Engineering Success at Tufts (BEST) program seeks to attract and retain first-generation students with high financial need. This six-week summer bridge program encourages students to get ahead in their math studies with classes and workshops.

www.swarthmore.edu | Swarthmore, PA

Did you know? Swarthmore College President Rebecca Chopp was a first-generation college student, and hosts a yearly event for first-generation students.