Vanderbilt Announces Free Tuition for Students Whose Families Make $150K or Less
Credit: John Greim / LightRocket / Getty Images- Vanderbilt said families making between $125,000 and $150,000 typically receive a median award of about $70,000 annually in financial aid.
- Families making more than $150,000 can still receive financial aid.
- BestColleges found over 75 colleges and universities nationwide offer free tuition for qualifying students.
Vanderbilt University is joining the growing list of elite colleges and universities promising free tuition to students from families making under a certain yearly wage.
On Feb. 8, Vanderbilt announced all students from families making $150,000 or less per year will receive full tuition scholarships as part of an expansion to Opportunity Vanderbilt, its no-loan financial aid program.
“We want everyone who has what it takes to get into Vanderbilt to be able to enroll, regardless of their financial background. If you’re admitted, you belong here,” Chancellor Daniel Diermeier said in the school’s press release. “And we want to help make sure you can be here.”
Vanderbilt created Opportunity Vanderbilt during the financial crisis of 2008 and has provided over $2.6 billion in scholarship aid to over 15,400 students since 2009.
According to Vanderbilt, families making $150,000 or less typically receive enough financial aid to cover more than just tuition from Opportunity Vanderbilt. The median annual award for families making between $125,000 and $150,000 is about $70,000 annually. Families with incomes between $0 and $50,000 receive a median award of $90,000 per year.
Students from families making more than $150,000 can still receive financial support from the university. The university said the median award for families earning over $200,000 is $39,940.
Last year, Duke University began a similar program for students from the Carolinas. Families who make $150,000 or less per year qualify for free tuition.
Duke said it will offer additional aid for housing, meals, course materials, and other campus expenses for students from families making $65,000 or less per year.
Ivy League Schools like Princeton University, Harvard University, and Yale University all take things further by providing free education at a lower threshold, at most $100,000.
BestColleges found over 75 colleges nationwide that offer at least free tuition for students making under a certain amount per year or for all students at certain colleges.
Some colleges and universities, like the University of California system, offer free tuition for Native American students. Others, like Gonzaga University in Washington, provide free tuition for undocumented students.