5. Harvard University
ThinkstockLocation: Cambridge, Mass.
Undergraduate enrollment: 6,676
Total cost: $55,496
Average need-based aid: $42,229
Average net cost: $13,267
Kiplinger's rank: #6 among private universities
The most competitive of the Ivy League schools (only 6% of applicants are admitted), Harvard is also one of the most generous: More than 60% of undergraduates receive aid, and students whose families earn less than $65,000 pay nothing for this coveted education. Harvard has increased its financial aid by more than 70% in the past five years; this year, it dispensed a total of $172 million. Like many elite schools, Harvard restricts its awards to students who qualify for need-based aid.
6. Yale University
ThinkstockLocation: New Haven, Conn.
Undergraduate enrollment: 5,349
Total cost: $52,700
Average need-based aid: $38,914
Average net cost: $13,786
Kiplinger's rank: #1 among private universities
Yale's lavish endowment -- $19.4 billion, as of June 30, 2011 -- means it has plenty of money to offer in financial aid, and it spreads the wealth. Yale meets 100% of financial need and provides it in no-loan packages, at an average of almost $40,000; students who borrow here graduate with less than $10,000 in average debt, among the lowest on our lists of private universities and liberal arts colleges. Although Yale does not award non-need-based aid, its definition of need is expansive, extending to families earning up to $200,000 a year.
[More from Kiplinger: See 10 More Best Values in Private Universities]
7. Stanford University
ThinkstockLocation: Stanford, Cal.
Undergraduate enrollment: 6,988
Total cost: $56,008
Average need-based aid: $39,105
Average net cost: $16,903
Kiplinger's rank: #8 among private universities
Thanks to world-class academics and an idyllic, historic campus in the Palo Alto area, 34 miles from San Francisco, this outstanding university attracts top students from around the world. Its admission rate (7%) is second only to Harvard for competitiveness. Stanford is one of the relatively few elite institutions to offer merit aid (an average of $5,701), but it saves most of its largesse for students with need, in no-loan financial aid awards that average almost $40,000.
8. Thomas Aquinas College
Roy Randall, Creative CommonsLocation: Santa Clara, Cal.
Undergraduate enrollment: 358
Total cost: $31,850
Average need-based aid: $14,407
Average net cost: $17,443
Kiplinger's rank: #61 among liberal-arts colleges
This tiny Catholic college offers a religion-based, liberal arts education and a gorgeous setting near the Los Padres National Forest, about 70 miles northwest of Los Angeles. Although the college does not offer merit aid, about three-fourths of its students qualify for need-based aid; Thomas Aquinas meets 100% of need. Students who don't qualify for financial aid benefit from the school's relatively modest sticker price, among the lowest on our lists of private colleges and universities.
9. Wofford College
Lorianne DiSabato, Creative CommonsLocation: Spartanburg, S.C.
Undergraduate enrollment: 1,536
Total cost: $45,675
Average need-based aid: $27,668
Average net cost: $18,007
Kiplinger's rank: #36 among liberal-arts colleges
One of the few pre-Civil War colleges to have operated continuously on the same campus since its founding, Wofford awards generous need-based aid to more than half of its students, knocking the average price after aid to less than half of the sticker price. But you don't have to qualify for need-based aid to get a break here: Wofford also offers an average of $14,432 in grants and scholarships to about two-thirds of the students who receive no other aid.
10. Pepperdine University
Stephen Dyrgas, Creative CommonsLocation: Malibu, Cal.
Undergraduate enrollment: 3,474
Total cost: $56,872
Average need-based aid: $38,389
Average net cost: $18,483
Kiplinger's rank: #47 among private universities
Founded in 1937 and dedicated to affirming Christian values, this school accepts students of all faiths. Pepperdine began life as a college and became a university in 1970; it opened its current Malibu campus, on 830 acres overlooking the Pacific Ocean, in 1972. Students here are eligible for both need-based and non-need-based aid; 75% receive some form of help with the college bills.
ThinkstockLocation: Cambridge, Mass. Undergraduate enrollment: 6,676
Total cost: $55,496
Average need-based aid: $42,229
Average net cost: $13,267
Kiplinger's rank: #6 among private universities
The most competitive of the Ivy League schools (only 6% of applicants are admitted), Harvard is also one of the most generous: More than 60% of undergraduates receive aid, and students whose families earn less than $65,000 pay nothing for this coveted education. Harvard has increased its financial aid by more than 70% in the past five years; this year, it dispensed a total of $172 million. Like many elite schools, Harvard restricts its awards to students who qualify for need-based aid.
6. Yale University
ThinkstockLocation: New Haven, Conn. Undergraduate enrollment: 5,349
Total cost: $52,700
Average need-based aid: $38,914
Average net cost: $13,786
Kiplinger's rank: #1 among private universities
Yale's lavish endowment -- $19.4 billion, as of June 30, 2011 -- means it has plenty of money to offer in financial aid, and it spreads the wealth. Yale meets 100% of financial need and provides it in no-loan packages, at an average of almost $40,000; students who borrow here graduate with less than $10,000 in average debt, among the lowest on our lists of private universities and liberal arts colleges. Although Yale does not award non-need-based aid, its definition of need is expansive, extending to families earning up to $200,000 a year.
[More from Kiplinger: See 10 More Best Values in Private Universities]
7. Stanford University
ThinkstockLocation: Stanford, Cal. Undergraduate enrollment: 6,988
Total cost: $56,008
Average need-based aid: $39,105
Average net cost: $16,903
Kiplinger's rank: #8 among private universities
Thanks to world-class academics and an idyllic, historic campus in the Palo Alto area, 34 miles from San Francisco, this outstanding university attracts top students from around the world. Its admission rate (7%) is second only to Harvard for competitiveness. Stanford is one of the relatively few elite institutions to offer merit aid (an average of $5,701), but it saves most of its largesse for students with need, in no-loan financial aid awards that average almost $40,000.
8. Thomas Aquinas College
Roy Randall, Creative CommonsLocation: Santa Clara, Cal. Undergraduate enrollment: 358
Total cost: $31,850
Average need-based aid: $14,407
Average net cost: $17,443
Kiplinger's rank: #61 among liberal-arts colleges
This tiny Catholic college offers a religion-based, liberal arts education and a gorgeous setting near the Los Padres National Forest, about 70 miles northwest of Los Angeles. Although the college does not offer merit aid, about three-fourths of its students qualify for need-based aid; Thomas Aquinas meets 100% of need. Students who don't qualify for financial aid benefit from the school's relatively modest sticker price, among the lowest on our lists of private colleges and universities.
9. Wofford College
Lorianne DiSabato, Creative CommonsLocation: Spartanburg, S.C. Undergraduate enrollment: 1,536
Total cost: $45,675
Average need-based aid: $27,668
Average net cost: $18,007
Kiplinger's rank: #36 among liberal-arts colleges
One of the few pre-Civil War colleges to have operated continuously on the same campus since its founding, Wofford awards generous need-based aid to more than half of its students, knocking the average price after aid to less than half of the sticker price. But you don't have to qualify for need-based aid to get a break here: Wofford also offers an average of $14,432 in grants and scholarships to about two-thirds of the students who receive no other aid.
10. Pepperdine University
Stephen Dyrgas, Creative CommonsLocation: Malibu, Cal. Undergraduate enrollment: 3,474
Total cost: $56,872
Average need-based aid: $38,389
Average net cost: $18,483
Kiplinger's rank: #47 among private universities
Founded in 1937 and dedicated to affirming Christian values, this school accepts students of all faiths. Pepperdine began life as a college and became a university in 1970; it opened its current Malibu campus, on 830 acres overlooking the Pacific Ocean, in 1972. Students here are eligible for both need-based and non-need-based aid; 75% receive some form of help with the college bills.
