How to balance affordability and fit when applying to US universities

As a college counsellor at a private school in Europe, one of the most complex challenges I face is helping US applicants find a university that truly fits while remaining financially feasible. 

While I always have some advisees who can afford the full cost of attendance and others who need a near full-ride in order to attend US institutions, most of my students fall somewhere in the middle. Juggling best fit with affordability within a competitive school culture that places a high premium on rankings and selectivity is a challenge. 

The opacity of US universities’ financial-aid practices for international students only compounds the struggle. Achieving a balance is a delicate, nuanced process, but one that is crucial for ensuring students’ success and well-being.

Funding for a US degree: understanding the context

In recent years, the cost of tertiary education in the US has skyrocketed, with annual sticker prices nearing $100,000 at the most selective institutions. International students are often expected to pay full price unless they can secure sufficient financial aid or scholarships. However, many middle-class families face a complex web of financial considerations, including high home-ownership rates and assets that may not align neatly with traditional need-calculation models.

Moreover, the lack of transparency around how universities determine financial need complicates the process. For example, family assets such as second homes can inflate perceived financial capacity, even if actual income is modest. This often leads to misunderstandings about eligibility and the availability of aid, creating anxiety for students and families alike.

Short-term strategies

1. Clarify the financial landscape early

Begin by providing honest, data-driven insights into how US universities assess financial need and awards. For example, explain that need-aware schools consider assets and income differently – highlighting the importance of understanding what constitutes “need” at each institution. Show students and parents that these calculations vary from school to school. 

2. Explore a broad range of schools

Encourage students to consider a spectrum of institutions – highly selective, moderately selective and less selective schools – some of which may offer merit scholarships. 

Most college-cost calculators and net-price estimators are explicitly not intended for international students. However, there is some existing data to help families identify schools where the financial outcome might be more favourable. This website, which provides searchable data for international students, is very useful. 

3. Encourage realistic expectations

Help families understand that applying for aid may carry risks, and that transparency about their financial situation and realistic expectations can prevent false hopes or unnecessary refusals. Explain that adequate research and open conversations can reveal hidden opportunities (such as merit scholarships at less-selective schools).

Medium-term actions

1. Use data and case studies to demonstrate potential outcomes

Gather and present anonymised data or case studies highlighting students with similar backgrounds who received aid or scholarships at a range of institutions. Visual tools such as charts or spreadsheets can show potential net costs and aid packages, helping families see that affordability varies widely. Highlight the difference in how individual institutions assess need. 

2. Cultivate relationships with admissions and financial-aid offices

Build networks at universities to gather insider information and advocate for students. For example, if a student’s profile is competitive for merit aid at a particular college, a counsellor’s insight can help shape the application strategy. Don’t be afraid to reach out to university representatives.

3. Advocate for a whole-school approach

Just as universities follow holistic admissions, students and other stakeholders should be encouraged to view universities holistically. No-name university fairs are a great tool for overcoming the focus on rankings and name recognition. 

4. Address family assets sensitively

Acknowledge that asset assessments may not accurately reflect liquidity or current financial health. Counsel families on how to present their financial situation transparently and, where appropriate, discuss strategies for documenting true financial need.

Long-term strategies

1. Influence school culture

Advocate within your own school community to develop a culture that values diversity of economic backgrounds. Share positive stories of students who succeeded at modestly priced or less-selective institutions, emphasising these outcomes in school presentations and parent meetings.

2. Engage with school leadership

Work to influence school policies and statements to promote awareness and support for students seeking financial aid. Encourage the administration to highlight the value of placing students in a variety of institutions – not solely the most selective – to enhance the school’s reputation and alumni diversity.

3. Foster a culture of exploration

Encourage ongoing dialogue among students, parents and counsellors about the importance of exploring all options. Creating a portfolio of options and success stories can help to shift perceptions and expectations.