Ivy League schools are considered as the most prestigious 8 institutes that are located in the Northeastern United States. The 8 institutions that form the Ivy League are Columbia University, Brown University, Cornell University, Harvard University, Dartmouth University, Princeton University, Yale University and the University of Pennsylvania.
These institutes are synonymous with academic excellence and therefore are highly sought after by students. All the eight universities are placed in the top 20 in the list of US News and World Report 2014’s University rankings. Each of these universities receives high amount of funding from the federal as well as state government for research and other subsidiaries.
Scholarships and Aids
All the 8 Ivy League universities offer financial aid to students in the form of scholarships to deserving students. Here are the details for these endowments.
Cornell University offers a number of grants and scholarships to undergraduate students. However there are a few pointers to keep in mind such as merit or athletic opportunities are not offered, all gift-aid is need-based, for federal grants, the FAFSA financial form must be filled.
-Cornell University Grant: This grant is available to students at the university with financial need. The aid is made available according to the discretion of the Office of Financial Aid and Student Employment. There are several sources of this aid, alumni gifts, university endowments, general funds etc. There is no set limit for the grant. The eligibility for this grant is determined on a case to case basis. Students are automatically considered for this fund when they apply for financial aid, no separate application is required.
-Endowed Scholarships: Those students who are available for Cornell University Grant are also eligible for this application . This scholarship is established by those people who care about the university; this includes some of the University alumni who themselves were the beneficiary of student aid. This scholarship also gives students a chance to meet their donors personally. When funds are awarded via this application , it replaces the amount of any other Cornell grant. Students are automatically considered for this application when they apply for financial aid and selection is based on donor’s criteria.
The University is need-blind for US students and people who have been granted refugee visas in the US, however, it is not need-blind for international and non-domestic students. Therefore, the Office of Admissions considers every application regardless of the student’s financial need. Furthermore, Columbia also offers need-based financial aid. The university meets 100% of the demonstrated financial need of all the first-year students which includes international as well as non-domestic students. International students can learn more about the financial aid on their official web page.
The University has need-blind admission policy for US students and permanent residents, thus the student’s ability to pay is not a decision maker. Brown University has several financial aid resources for those students who demonstrate financial need. Depending on the total family income and the assets, the financial aid is calculated by the university and is awarded accordingly.
In the case of need-based financial aid, demonstrated financial need is fulfilled by the university. Being a member of the Ivy League, the University does not offer aid based on athletic ability, academic achievement or any other merit. Based on eligibility, the aid may constitute of a mixture of federal grants, state grants, and university aid and work-study or campus employment.
-Brown’s Installment Payment Plan (IPP): This program is available for fall and spring semesters only and lets students make interest-free monthly installments. This plan is managed by the Bursar’s Office.
-Federal Direct PLUS Loan: This loan allows parents, guardians or graduate students to borrow a part or all of the cost of education at the fixed interest rate of 7.90%.
-Federal Student Loan: This is a low-interest loan that is offered to students to help them with their educational expenses.
There are a number of grants and scholarships offered by Dartmouth University. The grants offered by the University are need based and are offered without any expectation of repayment. The amount for the same ranges from $1000 to $5000 based on the eligibility.
-Dartmouth Endowed Scholarship: A few students are selected for the 750 endowed scholarship funds. There is no separate application process for the same. Students who receive this application get to meet their donors which present them with an opportunity for networking.
-Veteran’s Benefit: The University participates in the Yellow Ribbon and GI Bill programs. These benefits will help eligible students to lessen their financial burden.
There are other student loans provided by the University as well as by the federal government that are low-interest and are awarded to students who demonstrate financial need.
The grants offered by Harvard are designed in a manner that it completely covers the student’s demonstrated financial need. The university first determines the students need-based off the contribution that the family can make. Then the student employment and outside funds/loans and opportunities are taken into consideration and after that financial aid is provided by the University. these endowments come from a number of sources which include Harvard endowment funds, alumni gifts and federal and state grants.
The admission is need- blind for all applicants applying to Princeton, including international students. The financial aid provided by the University is based only on the need of the applicant, the University does not warrant merit-based scholarship. Talent and achievement are considered only at the time of admission and not while providing financial aid. The financial aid is determined after reviewing the family’s income and assets and their financial condition.
Yale financial aid is need-based and thus the resources are available to talented students, no matter what their background. Yale does not offer athletic or merit-based aid. It offers financial aid according to demonstrated need, even to international students. Some of the different kinds of aidinclude:
-Federal student Aid: It mostly needs to be based and after calculating the family income and assets, the aid may be provided in the form of grants and scholarships, work-study, and loans.
-Federal Pell Grant: It is a federal program which gives direct grants to students.
-Federal Supplemental Educational Opportunity Grant (FSEOG): It is a campus-based program and the grants are awarded by the institution.
-Federal Work Study: It is an opportunity to work at the campus at earn for the same by the institution.
-Other School Scholarships: Yale Club Awards, Endowment Scholarships, Gift Aid from Alumni, Yale Scholarships.
University of Pennsylvania
The University offers a Number of Awards and aids to students who are looking for financial help. Apart from the usual loans such as Federal Direct Stafford, Parent PLUS etc. and federal and state grants, the University, and its different schools offer a Number of Awards.
-academic programs: These based on the scholastic performance of students and the award value ranges from $700 to $2,500.
-Campus Scholarships: Scholarship value ranges from $800 to $2000 and is awarded to first-year and current students.
-Administrative Unit Scholarships: The studentships are offered by some administrative areas of Penn State.
-Outside Scholarships: These are offered by sources outside the University such as various organizations or the local community.
Students looking to apply to any one of the above 8 Ivy League colleges should research in-depth regarding their financial options and choose those that best suit their needs.