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The recession indicators are supposedly everywhere these days. Pantone’s color of the year, which is as comforting as a box of chocolates. The decline in self-care expenditures and the uptick in sales of press-on nails. A sluggish luxury market. The return of the hemline index. The return of brunettes. Your Friends & Neighbors. Everyone wanting to go to law school.
There might be another one to add to the list: The increasing popularity of merit aid programs. When even the rich are feeling the strain of soaring tuition costs—more than $80,000 a year, and only trending up—that says something about where we are. Of course the value proposition of higher education is a debate that has been raging ad nauseam long before tariff whiplash and fears of an economic downturn even entered the equation.
A version of this dilemma, for instance, was the subject of a 2023 Town & Country story spotlighting the growing number of parents and students who are taking a “big name or bust” approach (in the words of one Manhattan mother: “It’s either Duke or Baruch. I’m not paying $80,000 a year so you can go to Middlebury and learn to build a bonfire”) or opting out of the game altogether, turning down highly selective, and extremely expensive, top-tier schools for less competitive places where they can excel academically—and do it on a full ride. “I don’t want to be a cheap parent, but do I really want to pay nearly $350,000 for a college education?” an L.A. mother told T&C. “There are other schools that would be just as good for her.”
And that offer generous merit aid perks, which, aside from the obvious financial benefits, are something of a flex. “After all, the only brag that is more exciting to share than, ‘my child got into their top-choice college,’ is, ‘my child got into their top-choice college with a full scholarship,’ ” according to the team at IvyWise, who reveal their list of schools with the best merit aid scholarships, below.
Boston, MA
Sticker price: $87,122
Average dollar amount of merit aid: $32,831 (2023-2024)
“While BU’s sticker price is the highest and their admit rate the lowest (11.11%) out of all of the schools on this list, it stands out among other top universities as being one of the few that offer generous merit aid. Located in what is often considered the best college town in the country, BU offers more than 300 programs of study across 10 schools and colleges and is ranked as a top school for academic excellence, economic value, research, and career preparation. Admits to the Alt-Ivy may be eligible for merit awards if they are in the top 5% of their high school class, have shown impressive extracurricular achievements, and, if submitting test scores, score above 1500 on the SAT or above 33 on the ACT. The most prestigious is the Trustee Scholarship, which covers full tuition and fees, and offers other perks like a reception with faculty each semester, participation in outings around Boston, and the invitation to live with other Trustee Scholars in a historic brownstone at the heart of the campus.”
Potsdam, NY
Sticker price: $78,478
Average dollar amount of merit aid: $33,837 (2023-2024)
“Clarkson is a hidden gem for students interested in pursuing STEM, business, or health majors, offering rigorous academics, a close-knit community, and, for adventurers, easy access to the outdoors. Clarkson is also often included in lists of schools that offer the best value and have the highest-paid graduates. In fact, the 40-year net present value of a Clarkson degree is $1.7M, which is in the top 5% of ROI for all four-year institutions. Nearly all students receive some form of financial aid—even if they don’t qualify for need-based aid. Ten students are selected from each entering class to be awarded the Ignite Presidential Fellowship, which covers all tuition costs. Other unique merit opportunities include awards for those who apply during Early Decision, participate in an official campus visit, are related to a Clarkson alumnus, or even have an alumnus write a recommendation for them.”
New London, CT
Sticker price: $85,800
Average dollar amount of merit aid: $28,349
“Set on a picturesque arboretum campus along the Long Island Sound, Connecticut College offers a unique spin on the traditional liberal arts education through Connections, the signature academic program that hones interdisciplinary knowledge, analytical thinking, and creativity. As the newest member of the New England Small College Athletic Conference (NESCAC), it holds another important distinction among its peer schools—it is one of the only two NESCAC schools (the other being Trinity College) that offers merit aid. All applicants are automatically considered for merit aid, with scholarships offered to those who were high achievers in high school and are deemed to have potential to make an impact while at Connecticut College. The career program here is also considered one of the best in the country, and students can pursue up to $3,000 in funding for unpaid or underpaid internship or research experiences.”
Fairfield, CT
Sticker price: $76,640
Average dollar amount of merit aid: $21,614 (2023-2024)
“Located in the tony Connecticut suburb, some of Fairfield’s best-known undergraduate programs are business, communications, education, and nursing. As a Jesuit institution, Fairfield is committed to empowering students to become impactful members of their community through offerings like the Service for Justice Residential College, where sophomores explore how to become change agents. All admits are considered for merit scholarships, with criteria including high school academics, course rigor, and extracurricular activities. Students in the College of Arts and Sciences are also eligible for funding to pursue an unpaid internship, research, or fieldwork to gain hands-on industry experience.”
Greenville, SC
Sticker price: $76,274
Average dollar amount of merit aid: $29,744 (2023-2024)
“Furman is the oldest private university in South Carolina and is known for its picturesque campus nestled in the foothills of the Blue Ridge Mountains. The James B. Duke Scholarships are some of its most prestigious academic awards and are typically given to the top one or two percent of the applicant pool. Finalists are chosen in March—based on their academic accomplishments, leadership, service, and extracurricular involvement—and invited back for an interview. Those selected receive a full ride, attend the Riley Institute’s Advantage Scholars program the summer before freshman year, and participate in dedicated scholars’ programming throughout the year.”
Spokane, WA
Sticker price: $71,210
Average dollar amount of merit aid: $20,313
“Gonzaga may be best-known as a perennial March Madness favorite, but the university has more to offer than just school spirit. More than half of students study abroad (well above the national average of 10%) and they can pursue a range of notable programs, like engineering, computer science, nursing, psychology, and business. All applicants are considered for a merit aid scholarship, and nearly all receive some form of aid that recognizes their achievements. Students may be eligible for additional merit scholarships if they meet certain criteria, like being related to an alumnus, having graduated from a Catholic high school, pursuing a major in the School of Business Administration, or residing in the state of Washington.Those interested in grad school may find extra value at Gonzaga, thanks to its many accelerated programs for undergrads to get a head start.”
Geneva, NY
Sticker price: $82,884
Average dollar amount of merit aid: $27,397 (2023-2024)
“Hobart and William Smith has been ranked by the Princeton Review for its strong career services and internship offerings, close-knit alumni network, happy and engaged students, and commitment to the environment. It is also a leader in experiential education, with opportunities to get involved with several centers like the Bozzuto Center for Entrepreneurship, which partners with local businesses and nonprofits; the Finger Lakes Institute, which promotes environmental stewardship in the region; and the Adams Intercultural Center, which promotes cross-cultural understanding, inclusion, and social justice. HWS uses a holistic review to award merit aid to those who have consistently demonstrated hard work and dedication throughout high school. Students may be eligible for additional specific scholarships as well, like the Arts Scholars Program for fine or performing arts talents, or the Edward E. Rigney ’31 Debate Scholarship for students who have contributed significantly to debate programs, Model UN, Mock Trial, or other similar pursuits.”
Milwaukee, WI
Sticker price: $67,660
Average dollar amount of merit aid: $25,878
“As a Jesuit institution, Marquette values leadership and service (the Service Learning Program places around 1,250 students from dozens of university courses at more than 100 community agencies each semester). As such, merit aid is awarded to students who demonstrate excellence in and out of the classroom, a deep commitment to community work and giving back, and leadership experience and potential. Marquette also offers specific merit awards, including some reserved for Wisconsin residents—and one for students specifically from the Milwaukee area—and others based on individual colleges within the university.”
Syracuse, NY
Sticker price: $84,716
Average dollar amount of merit aid: $14,688 (2023-2024)
“Syracuse offers more than 200 undergraduate majors, with some of their best-known colleges being the School of Architecture (among the first in the U.S.), the Maxwell School of Citizenship and Public Affairs, and the S.I. Newhouse School of Public Communications. Students can also study in three major cities across the U.S. (as well as abroad). During application reviews, Syracuse considers all applicants for merit aid based on academics, community and extracurricular involvement, and overall character. Students may be eligible for further awards once they start: The Invest in Success Scholarship, for example, is awarded to freshmen who earn a minimum GPA of 3.75.”
Wooster, OH
Sticker price: $76,130
Average dollar amount of merit aid: $33,937 (2023-2024)
“The College of Wooster is one of only two schools to have been recognized by the U.S. News & World Report for undergraduate research opportunities and senior capstone projects every year since 2002 (the other is Princeton University). Students match their academic interests with their career goals through Wooster’s Pathways program, which includes guided self-reflections and career planning, experiential learning opportunities like internships and jobs, relevant courses, and networking events with fellow students, faculty, and guest speakers. There are seven Pathways to choose from, including Activism & Social Change, Entrepreneurship, and Global Impacts. About two-thirds of all admits are offered a Dean’s Scholarship, which recognizes strong academics, extracurriculars, leadership, and personal merit. The college’s most competitive one is the College Scholar Award, which requires an additional application and an interview. Wooster also offers scholarships for students talented in music, theater, dance, and Model UN, along with select departmental scholarships.”
San Antonio, TX
Sticker price: $68,426
Average dollar amount of merit aid: $26,592
“Located in one of the fastest growing cities in the country, Trinity University is intrinsically connected with the community, and the history and rich culture of Alamo City. The university combines an interdisciplinary liberal arts and sciences education with pre-professional and advising programs for a “Liberal Arts, Plus” experience. Trinity offers a range of merit aid scholarships, like the Murchison Scholarship, Trustees’ Scholarship, Presidents’ Scholarship, and Dean’s Scholarship. The very top of the applicant pool is invited to participate in the Trinity Tower Scholars Day (TTSD) competition to be considered for the highly competitive full-tuition scholarship. Students interested in studying the STEM fields are eligible for the Semmes Distinguished Scholars in Science Scholarship, another full-tuition award that also includes a $5,000 stipend for research support, professional travel, materials, and supplies.”
Dayton, OH
Sticker price: $65,460
Average dollar amount of merit aid: $29,042 (2023-2024)
“Experiential learning is a key part of the University of Dayton’s curriculum. The school partners with local organizations to provide opportunities to students (as well as to the greater community), including research projects with GE Aviation and Copeland; community building with the Dayton Foundation, Dayton Development Coalition, and Fitz Center; and innovation and entrepreneurship with Premier Health, the Entrepreneurs Center, and Greater West Dayton Incubator. There is also the College of Arts and Science’s Human Rights Center, which aims to create positive change in the world through research, education, and dialogue. Dayton’s merit scholarships include the Father Chaminade Award, Dean’s Merit Scholarship, President’s Merit Scholarship, and Trustees’ Merit Scholarship. Other awards include music talent awards, visual arts scholarships, and even prizes for children or grandchildren of alumni.
Denver, CO
Sticker price: $79,157
Average dollar amount of merit aid: $23,474
“The University of Denver aims to embody the spirit of exploration and discovery in the Great Plains and the Rockies through the 4D Experience. The multi-dimensional approach fosters intellectual growth through mentorship, community service, and a strong emphasis on social, emotional, physical, spiritual, and financial wellness. All admits are considered for a merit award based on their academic profile, with scholarships including the Rocky Mountain Scholarship, the Crimson & Gold Scholarship, and the Chancellor Scholarship. Students accepted during one of the Early Decision rounds will automatically receive an additional $5,000 merit scholarship. Once enrolled, they may be eligible for some of the more than 500 gift and endowed scholarships, too, which vary by academic department.”
Tacoma, WA
Sticker price: $79,396
Average dollar amount of merit aid: $28,971
“Outdoor lovers may be drawn to the University of Puget Sound’s location in Tacoma’s historic North End, with easy access to Seattle, the capital city of Olympia, Mount Rainier, and the Pacific Ocean. Puget Sound students engage in experiential learning, including the opportunity to volunteer with more than 250 organizations in the Tacoma area, and many graduates continue to pursue learning long after their undergrad experience is over; in fact, the university has been recognized as a top producer of Fulbright award recipients and Peace Corps volunteers. Puget Sound offers general merit aid opportunities, as well as department-specific ones like talent scholarships for those planning on pursuing visual arts or art history, speech and debate, music, or theater. The Lillis Scholarship is the university's most prestigious, which recognizes students who have high potential for post-graduate fellowships and scholarships, such as the Rhodes Scholarship, the Truman Scholarship, or the Watson Fellowship. Only two first-year students are selected for this full-ride award each year.”
Richmond, VA
Sticker price: $82,370
Average dollar amount of merit aid: $26,617 (2023-2024)
“Located on a 350-acre suburban campus just six miles from downtown Richmond (with free shuttle service for students), the University of Richmond places an emphasis on creating a community where students can build real connections and share their unique passions, interests, and backgrounds with one another. One in 11 students in the class of 2028 received a merit scholarship, with a total amount of $16.8 million awarded. The most prestigious merit award is the Richmond Scholars Program, which each year offers 25 incoming students a full ride and exclusive engagements related to academics (guidance on research projects, for instance), career (such as business etiquette dinners), and social events like trivia nights and even a prom.”
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