Ivy League Schools are associated with many things, such as academic rigor, expansive campuses and prestige, but the following content looks at the most affordable Ivy League Schools in the US. One notion that Ivy Leagues rarely conjures is one of affordability. This is because people largely believe that access to these respected private colleges is just limited to wealthy students.
However, this is really not true. In fact, private institutions like Ivy Leagues, generally offer far lesser net tuition compared to public institutions. A common error that many students make is just looking at the advertised expenses of attendance. On average, public colleges usually have significantly lower prices than private colleges. Nevertheless, this cost is not really the true representation of the actual expenses that students will have to bear.
While most state schools today are steadily reducing their budgets, most private institutions, including the best engineering colleges, continue receiving huge endowments. For instance, it was reported that in 2012, Harvard University received an endowment above $30 billion. Notable, the biggest endowment funds were linked to the prestigious Ivy Leagues.
You may be wondering what the importance of endowment sizes to potential students is. Well, the bigger the endowment to administrative costs ratio is, the larger potential for being financially generous an institution is. For instance, Harvard does not charge any attendance fee if a prospective student’s family does not earn more than $60,000 per year.
The chances of getting such a generous offer from a state institution are very slim. Most state schools just lack the resources to make these kinds of offers. Moreover, some more privileged private schools opt to target their assets towards specific programs to benefit low-income prospective students. This is usually done as a way of providing quality education to poorer students.
In short, you must not disregard Ivy Leagues when writing your school applications. Here are the most affordable Ivy League Schools in the US that you can check out.