17 Prestigious Colleges With Best Financial Aid for Middle Class

Being middle class is not always best, especially when applying to top colleges.

For example, if your family’s annual income is between $106,827 to $373,894, earning a college degree can be harsher on the pocket than everyone else in the middle class.

Just because your family is making enough doesn’t mean that it can pay for college. It all depends on which college you are planning to go to.

It’s because your family has too much money for you to be considered eligible for government higher education grants but not enough for your family to pay cash for your college without much trouble.

So, it is important to know which colleges offer the most aid.

Ivy League schools with the best financial aid for middle class students are Harvard, Columbia, and Brown University. Respectively, their need-based grants can cover up to 71.41%, 55.47%, and 49.32% of the fees.

Those with the least financial aid are Bates College, Tufts University, and Lafayette College.

I spent a whole day researching elite colleges with the best financial aid for middle and upper middle class families based on the results of net price calculators that can give a good estimation.

This post contains a lot of numbers. I put the most important information in the beginning, so you don’t have to dig too much, but you welcome to scroll down to find out where exactly your family stands in terms of paying for college.

Top 17 Colleges With Best Financial Aid for Middle Class Families

It’s no secret that Ivy League and Little Ivy schools are some of the richest learning institutions in the US.

Because it’s granted that students who go the Ivies and Little Ivies are bright, many top schools do not give merit-based scholarships.

The good news is that schools with the lowest acceptance rates provide another type of financial aid: need-based financial aid.

Just like what the name says, a need-based scholarship is given to a student who shows financial need.

Eligibility for it is determined by one’s family income. Also taken into account are factors such as a student’s year in college, family size, the number of family members who will go to college each year, etc.

Below is a table of best case estimates for financial aid based on how much your family makes ($150, $200K or $250K) according to their net price calculators:

UNIVERSITY	Estimated Cost, $150K	Estimated Cost, $200K	Estimated Cost, $250K
Brown University	$37,800	$50,000	$62,300
Columbia University	$32,700	$46,200	$59,100
Dartmouth College	$35,700	$50,900	$65,400
Harvard University	$18,700	$38,800	$66,000
University of Pennsylvania	$37,600	$49,800	$62,100
Yale University	$32,400	$49,900	$66,300
Amherst College	$37,200	$52,500	$67,100
Bates College	$40,300	$52,500	$64,700
Bowdoin College	$38,500	$49,700	$63,300
Colby College	$37,900	$49,300	$63,900
Hamilton College	$32,800	$46,600	$60,500
Lafayette College	$38,100	$50,000	$63,900
Middlebury College	$35,600	$50,700	$65,100
Tufts University	$38,700	$52,100	$66,900
Vassar College	$37,300	$49,200	$62,700
Wesleyan University	$36,500	$49,300	$63,500
Williams College	$33,100	$47,200	$60,700

Colleges with best financial aid for middle class

See the detailed breakdowns below.

Estimated Net Price for Top Colleges Based on Student’s Family Income

With the help of a college cost estimator (myintuition), you can have an idea of how much your parents will have to pay yearly for college minus the need-based scholarship a school offers to eligible students.

Check the estimates (Best Estimate/Student Parent Contribution) of how much money your folks will have to shell out after being awarded with a grant (Need-Based Scholarship).

You will also find Low Estimates and High Estimates of the amount of cash your family will have to pay for your college annually.

The estimations below are based on basic financial questions such as:

What is your family’s total annual income before taxes? ($150,000, $200,000 and $250,000)

Does your family own the home in which you live? (Yes — the majority of upper middle class families own properties)

What is the current market value of your family’s home? ($284,600 — the median home price in the US, according to the National Association of Realtors or NAR)

Do your parents have any cash held in a regular savings or checking account? (Yes — because they work hard)

Do your parents have any retirement or pension plans? (Yes — again, because they work hard)

Do your parents have any investments held in non-retirement accounts? (No)

Do you have any siblings in your household who will also be enrolled full-time in a four-year undergraduate institution in the same year that you plan to enter college? (No — let’s assume that you have one sibling who’s not yet going to college at the same time as you)

One thing I want you to keep in mind is that the calculator I am using (myintuition) is very basic, and I’ve only tested the variables listed above. Since the calculator itself is very basic, the answers, at best, are only estimates.

If you want a more specific college estimate for a specific school, then I recommend using the net calculator many schools have on their own webpage.

Estimated Costs For a $150K Family Income

Brown University

Best Estimate $37,800
Student Work-Study $2,950
Need-Based Scholarship $39,650
Student/Parent Contribution $37,800
Total $80,400
Low Estimate $26,200
High Estimate $49,300

Columbia University

Best Estimate $32,700
Student Work-Study $3,100
Need-Based Scholarship $44,600
Student/Parent Contribution $32,700
Total $80,400
Low Estimate $22,300
High Estimate $43,100

Dartmouth College

Best Estimate $35,700
Student Work-Study $2,500
Student Loan $5,500
Need-Based Scholarship $35,800
Student/Parent Contribution $35,700
Total $79,500
Low Estimate $27,500
High Estimate $44,000

Harvard University

Best Estimate $18,700
Student Work-Study $3,000
Need-Based Scholarship $54,200
Student/Parent Contribution $18,700
Total $75,900
Low Estimate $14,200
High Estimate $23,200

University of Pennsylvania

Best Estimate $37,600
Student Work-Study $3,500
Need-Based Scholarship $38,500
Student/Parent Contribution $37,600
Total $79,600
Low Estimate $26,400
High Estimate $48,800

Yale University

Best Estimate $32,400
Student Work-Study $2,850
Need-Based Scholarship $43,650
Student/Parent Contribution $32,400
Total $78,900
Low Estimate $21,400
High Estimate $43,400

Amherst College

Best Estimate $37,200
Student Work-Study $2,200
Need-Based Scholarship $34,800
Student/Parent Contribution $37,200
Total $74,200
Low Estimate $27,400
High Estimate $47,000

Bates College

Best Estimate $40,300
Student Work-Study $1,700
Student Loan $2,000
Need-Based Scholarship $31,700
Student/Parent Contribution $40,300
Total $75,700
Low Estimate $32,000
High Estimate $48,600

Bowdoin College

Best Estimate $38,500
Student Work-Study $2,200
Need-Based Scholarship $33,100
Student/Parent Contribution $38,500
Total $73,800
Low Estimate $28,400
High Estimate $48,700

Colby College

Best Estimate $37,900
Student Work-Study $1,800
Need-Based Scholarship $37,500
Student/Parent Contribution $37,900
Total $77,200
Low Estimate $26,000
High Estimate $49,900

Hamilton College

Best Estimate $32,800
Student Work-Study $2,200
Student Loan $3,500
Need-Based Scholarship $36,700
Student/Parent Contribution $32,800
Total $75,000
Low Estimate $24,800
High Estimate $40,700

Lafayette College

Best Estimate $38,100
Student Work-Study $1,000
Student Loan $3,500
Need-Based Scholarship $31,400
Student/Parent Contribution $38,100
Total $74,000
Low Estimate $30,400
High Estimate $45,800

Middlebury College

Best Estimate $35,600
Student Work-Study $2,600
Student Loan $3,500
Need-Based Scholarship $35,800
Student/Parent Contribution $35,600
Total $77,500
Low Estimate $27,200
High Estimate $43,900

Tufts University

Best Estimate $38,700
Student Work-Study $2,000
Student Loan $5,000
Need-Based Scholarship $33,300
Student/Parent Contribution $38,700
Total $79,000
Low Estimate $29,000
High Estimate $48,400

Vassar College

Best Estimate $37,300
Student Work-Study $2,200
Student Loan $3,500
Need-Based Scholarship $35,300
Student/Parent Contribution $37,300
Total $78,300
Low Estimate $27,900
High Estimate $46,600

Wesleyan University

Best Estimate $36,500
Student Work-Study $2,800
Student Loan $3,500
Need-Based Scholarship $35,900
Student/Parent Contribution $36,500
Total $78,700
Low Estimate $26,800
High Estimate $46,200

Williams College

Best Estimate $33,100
Student Work-Study $2,700
Student Loan $4,000
Need-Based Scholarship $35,700
Student/Parent Contribution $33,100
Total $75,500
Low Estimate $23,500
High Estimate $42,600

Estimated College Costs For a $200K Family Income

Brown University

Best Estimate $50,000
Student Work-Study $2,950
Need-Based Scholarship $27,450
Student/Parent Contribution $50,000
Total $80,400
Low Estimate $36,300
High Estimate $63,800

Columbia University

Best Estimate $46,200
Student Work-Study $3,100
Need-Based Scholarship $31,100
Student/Parent Contribution $46,200
Total $80,400
Low Estimate $33,600
High Estimate $58,800

Dartmouth College

Best Estimate $50,900
Student Work-Study $2,500
Student Loan $5,500
Need-Based Scholarship $20,600
Student/Parent Contribution $50,900
Total $79,500
Low Estimate $40,800
High Estimate $61,100

Harvard University

Best Estimate $38,800
Student Work-Study $3,000
Need-Based Scholarship $34,100
Student/Parent Contribution $38,800
Total $75,900
Low Estimate $31,800
High Estimate $45,900

University of Pennsylvania

Best Estimate $49,800
Student Work-Study $3,500
Need-Based Scholarship $26,300
Student/Parent Contribution $49,800
Total $79,600
Low Estimate $36,400
High Estimate $63,200

Yale University

Best Estimate $49,900
Student Work-Study $2,850
Need-Based Scholarship $26,150
Student/Parent Contribution $49,900
Total $78,900
Low Estimate $35,600
High Estimate $64,200

Amherst College

Best Estimate $52,500
Student Work-Study $2,200
Need-Based Scholarship $19,500
Student/Parent Contribution $52,500
Total $74,200
Low Estimate $41,200
High Estimate $63,800

Bates College

Best Estimate $52,500
Student Work-Study $1,700
Student Loan $2,000
Need-Based Scholarship $19,500
Student/Parent Contribution $52,500
Total $75,700
Low Estimate $42,700
High Estimate $62,300

Bowdoin College

Best Estimate $49,700
Student Work-Study $2,200
Need-Based Scholarship $21,900
Student/Parent Contribution $49,700
Total $73,800
Low Estimate $38,100
High Estimate $61,300

Colby College

Best Estimate $49,300
Student Work-Study $1,800
Need-Based Scholarship $26,100
Student/Parent Contribution $49,300
Total $77,200
Low Estimate $35,500
High Estimate $61,100

Hamilton College

Best Estimate $46,600
Student Work-Study $2,000
Student Loan $3,500
Need-Based Scholarship $22,900
Student/Parent Contribution $46,600
Total $75,000
Low Estimate $37,200
High Estimate $56,100

Lafayette College

Best Estimate $50,000
Student Work-Study $1,000
Student Loan $3,500
Need-Based Scholarship $19,500
Student/Parent Contribution $50,000
Total $74,000
Low Estimate $41,200
High Estimate $58,900

Middlebury College

Best Estimate $50,700
Student Work-Study $2,600
Student Loan $3,500
Need-Based Scholarship $20,700
Student/Parent Contribution $50,700
Total $77,500
Low Estimate $40,600
High Estimate $60,800

Tufts University

Best Estimate $52,100
Student Work-Study $2,000
Student Loan $5,000
Need-Based Scholarship $19,900
Student/Parent Contribution $52,100
Total $79,000
Low Estimate $40,900
High Estimate $63,200

Vassar College

Best Estimate $49,200
Student Work-Study $2,200
Student Loan $3,500
Need-Based Scholarship $23,400
Student/Parent Contribution $49,200
Total $78,300
Low Estimate $37,900
High Estimate $60,400

Wesleyan University

Best Estimate $49,300
Student Work-Study $2,800
Student Loan $3,500
Need-Based Scholarship $23,100
Student/Parent Contribution $49,300
Total $78,700
Low Estimate $37,500
High Estimate $61,100

Williams College

Best Estimate $47,200
Student Work-Study $2,700
Student Loan $4,000
Need-Based Scholarship $21,600
Student/Parent Contribution $47,200
Total $75,500
Low Estimate $35,300
High Estimate $59,100

Estimated College Costs For a $250K Family Income

Brown University

Best Estimate $62,300
Student Work-Study $2,950
Need-Based Scholarship $15,150
Student/Parent Contribution $62,300
Total $80,400
Low Estimate $46,300
High Estimate $78,300

Columbia University

Best Estimate $59,100
Student Work-Study $3,100
Need-Based Scholarship $18,200
Student/Parent Contribution $59,100
Total $80,400
Low Estimate $44,400
High Estimate $59,100

Dartmouth College

Best Estimate $65,400
Student Work-Study $2,500
Student Loan $5,500
Need-Based Scholarship $6,100
Student/Parent Contribution $65,400
Total $79,500
Low Estimate $53,600
High Estimate $77,300

Harvard University

Best Estimate $66,000
Student Work-Study $3,000
Need-Based Scholarship $6,900
Student/Parent Contribution $66,000
Total $75,900
Low Estimate $55,500
High Estimate $75,900

University of Pennsylvania

Best Estimate $62,100
Student Work-Study $3,500
Need-Based Scholarship $14,000
Student/Parent Contribution $62,100
Total $79,600
Low Estimate $46,500
High Estimate $77,700

Yale University

Best Estimate $66,300
Student Work-Study $2,850
Need-Based Scholarship $9,750
Student/Parent Contribution $49,900
Total $66,300
Low Estimate $48,900
High Estimate $78,900

Amherst College

Best Estimate $67,100
Student Work-Study $2,200
Need-Based Scholarship $4,900
Student/Parent Contribution $67,100
Total $74,200
Low Estimate $54,400
High Estimate $74,200

Bates College

Best Estimate $64,700
Student Work-Study $1,700
Student Loan $2,200
Need-Based Scholarship $7,300
Student/Parent Contribution $64,700
Total $75,700
Low Estimate $53,300
High Estimate $75,700

Bowdoin College

Best Estimate $63,300
Student Work-Study $2,200
Need-Based Scholarship $8,300
Student/Parent Contribution $63,300
Total $73,800
Low Estimate $50,000
High Estimate $73,800

Colby College

Best Estimate $63,900
Student Work-Study $1,800
Need-Based Scholarship $11,500
Student/Parent Contribution $63,900
Total $77,200
Low Estimate $47,700
High Estimate $77,200

Hamilton College

Best Estimate $60,500
Student Work-Study $2,000
Student Loan $3,500
Need-Based Scholarship $9,000
Student/Parent Contribution $60,500
Total $75,000
Low Estimate $49,500
High Estimate $71,500

Lafayette College

Best Estimate $63,900
Student Work-Study $1,000
Student Loan $3,500
Need-Based Scholarship $5,600
Student/Parent Contribution $63,900
Total $74,000
Low Estimate $53,700
High Estimate $74,000

Middlebury College

Best Estimate $65,100
Student Work-Study $2,600
Student Loan $3,500
Need-Based Scholarship $6,300
Student/Parent Contribution $65,100
Total $77,500
Low Estimate $53,300
High Estimate $76,800

Tufts University

Best Estimate $66,900
Student Work-Study $2,000
Student Loan $5,000
Need-Based Scholarship $5,100
Student/Parent Contribution $66,900
Total $79,000
Low Estimate $54,200
High Estimate $79,000

Vassar College

Best Estimate $62,700
Student Work-Study $2,200
Student Loan $3,500
Need-Based Scholarship $9,900
Student/Parent Contribution $62,700
Total $78,300
Low Estimate $49,200
High Estimate $76,100

Wesleyan University

Best Estimate $63,500
Student Work-Study $2,800
Student Loan $3,500
Need-Based Scholarship $8,900
Student/Parent Contribution $63,500
Total $78,700
Low Estimate $49,400
High Estimate $77,600

Williams College

Best Estimate $60,700
Student Work-Study $2,700
Student Loan $4,000
Need-Based Scholarship $8,100
Student/Parent Contribution $60,700
Total $75,500
Low Estimate $46,600
High Estimate $74,800

NOTE: Financial aid can easily change for a variety of reasons. The numbers can easily change if the tuition increases, the school has less money available, you switch majors, or your family’s financial status changes.

Here are the percentages of the annual cost of college that schools will slash from the sticker price if your family is earning $150,000 a year:

Harvard University 71.41%
Columbia University 55.47%
Yale University 55.32%
Brown University 49.32%
Hamilton College 48.93%
Colby College 48.58%
University of Pennsylvania 48.37%
Williams College 47.28%
Amherst College 46.90%
Middlebury College 46.19%
Wesleyan University 45.62%
Vassar College 45.08%
Dartmouth College 45.03%
Bowdoin College 44.85%
Lafayette College 42.43%
Tufts University 42.15%
Bates College 41.88%

These are the percentages of the cost of college a year that schools will take care of if your family is making $200,000 annually:

Harvard University 44.93%
Columbia University 38.68%
Colby College 33.81%
Yale University 33.14%
University of Pennsylvania 33.04%
Hamilton College 30.53%
Vassar College 29.89%
Bowdoin College 29.67%
Wesleyan University 29.35%
Williams College 28.61%
Middlebury College 26.71%
Brown University 26.43%
Lafayette College 26.35%
Amherst College 26.28%
Dartmouth College 25.91%
Bates College 25.76%
Tufts University 25.19%

And now, the percentages of the cost of college yearly that schools will pay for if your family is generating $250,000 every year:

Harvard University 9.09%
Columbia University 22.64%
Brown University 18.84%
University of Pennsylvania 17.59%
Colby College 14.90%
Yale University 14.71%
Vassar College 12.64%
Hamilton College 12.00%
Wesleyan University 11.31%
Bowdoin College 11.25%
Williams College 10.73%
Bates College 9.64%
Middlebury College 8.13%
Dartmouth College 7.67%
Lafayette College 7.57%
Amherst College 6.60%
Tufts University 6.46%

Conclusion

Your family doesn’t have to be extremely rich just for you to be able to go to a prestigious school. Being upper middle class is sometimes enough. The bad news is that there is only one type of financial aid that Ivy League and Little Ivy schools offer, and it’s none other than a need-based scholarship.

But remember this, paying an average of $40,000 per year is not realistic for most families, even those who would fall under “upper-middle class.” I have made this clear before, but I don’t think it’s worth going into much debt over any college because that debt can be detrimental to your future.

If you are still determined to go to a college even when your family can’t realistically afford, check out my article on college debt to read about different ways to minimize family contributions to your education.

To make going to a top-notch college easier on the pocket of your folks, you may consider taking other steps that can help lower the cost of earning a degree from a prestigious school. For instance, you may work while studying or apply for financial aid available elsewhere that your chosen school accepts.

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily represent those of the College Reality Check. 

Top 17 Colleges With Best Financial Aid for Middle Class Families

Estimated Net Price for Top Colleges Based on Student’s Family Income

Estimated Costs For a $150K Family Income

Brown University

Columbia University

Dartmouth College

Harvard University

University of Pennsylvania

Yale University

Amherst College

Bates College

Bowdoin College

Colby College

Hamilton College

Lafayette College

Middlebury College

Tufts University

Vassar College

Wesleyan University

Williams College

Estimated College Costs For a $200K Family Income

Brown University

Columbia University

Dartmouth College

Harvard University

University of Pennsylvania

Yale University

Amherst College

Bates College

Bowdoin College

Colby College

Hamilton College

Lafayette College

Middlebury College

Tufts University

Vassar College

Wesleyan University

Williams College

Estimated College Costs For a $250K Family Income

Brown University

Columbia University

Dartmouth College

Harvard University

University of Pennsylvania

Yale University

Amherst College

Bates College

Bowdoin College

Colby College

Hamilton College

Lafayette College

Middlebury College

Tufts University

Vassar College

Wesleyan University

Williams College

Conclusion

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