In the current tough economic climate, many students are looking for free money to help pay for their education. If you’re one of these students, check out this list of the top 7 best universities that offer free scholarships! You may be surprised to find out that some of the best universities in the world provide free scholarships to outstanding students who apply early and demonstrate financial need. What are you waiting for? Start researching your options today!

Top 7 Best Universities with Free Scholarships
Michigan State University (MSU) is one of my favorite schools in America. I love that MSU is truly huge but still maintains a family feel and provides students with an incredible experience. The main campus is located in East Lansing, Michigan, and has satellite campuses around Michigan’s state capital. MSU currently offers more than 700 undergraduate programs and 360 graduate programs across 16 colleges. Some of my favorite academic units at MSU include: College of Communication Arts & Sciences, Eli Broad College of Business, James Madison College, Lyman Briggs School (Natural Science), Residential College in Arts & Humanities and School of Criminal Justice.

1. Massachusetts Institute of Technology

The Massachusetts Institute of Technology (MIT) is a private research university located in Cambridge, Massachusetts. MIT was established in 1861 in response to the increasing industrialization of the United States. The institute focuses on research and graduate-level studies in science, technology, and other related fields. MIT provides both undergraduate and graduate programs and has an enrollment of about 11,000 students. To apply for an undergraduate degree at MIT you must submit an application by January 15th. Graduate students must submit applications by February 1st each year. The school offers $45 million annually through their financial aid program with additional funding opportunities provided through grants from donors, corporations and foundations outside of MIT. As one can imagine with such generous financial aid programs available many international students are attracted to applying at MIT.

2. University of California, Berkeley

The University of California, Berkeley is one of only three public institutions in America with more than $1 billion in research expenditures. The school is extremely selective – an applicant needs to be in the top 10% of his or her high school class, and an SAT score above 1200 or ACT score above 27 are required. The only catch: Berkeley does not award merit-based aid; it only gives out need-based aid. However, for students who qualify, these grants can add up quickly. For example, at Berkeley, in 2007-2008, 53% of undergraduates received need-based financial aid totaling over $100 million. In addition to its generous financial aid package, UC Berkeley has also been recognized as having some of the most prestigious programs in all fields of study by U.S. News & World Report’s America’s Best Colleges issue.

3. Stanford University

$14.5 million in awards is up for grabs at Stanford. The deadline is December 1st. Students can apply online here. You should have a minimum 3.8 GPA and plan on attending full-time at an accredited school within the U.S.. Visit here to read more about eligibility requirements, how to apply, deadlines and what types of awards are available. #4 University of Texas: This university offers over $10 million in merit-based scholarships. The deadline is November 15th. You must be enrolled as a freshman or transfer student and attend full time at an accredited college or university within Texas (or be a graduate student). Apply online here to learn more about eligibility requirements, how to apply, deadlines and what types of awards are available. There’s also plenty of additional information regarding financial aid opportunities on their website if you’re interested in learning more about funding your education.

4. Harvard University

The Harvard Scholarship Program offers full tuition, fees, room and board (for 9 months per year), an allowance for travel expenses and books, as well as study abroad opportunities. In order to apply, students must be legal residents of Massachusetts who have graduated from a Massachusetts high school within 12 months or plan on attending college in Massachusetts. Students must also submit high school records and SAT/ACT scores. Eligible students receive $60,000 per year during their four years at Harvard University. Scholarships are awarded based on financial need and merit; 70% of eligible students received aid through Harvard’s financial aid program in 2013-2014.

5. Princeton University

Princeton University offers hundreds of generous merit-based and need-based scholarships to incoming students. To qualify, students typically have an impressive academic record and/or participate in extracurricular activities. Merit awards at Princeton range from $2,000 – $80,000 per year (with most being around $8,000) and come with a full tuition waiver plus free room and board. Need-based awards can cover up to 60% of tuition costs as well as room and board. If awarded one of these grants, you will still be responsible for paying other college costs like books, supplies, transportation and living expenses—but at least it’s significantly less than paying for college without financial aid.

6. Yale University

Yale is one of America’s oldest and most famous schools. It is also one of those colleges with long waiting lists, but if you are lucky enough to be accepted there, they will provide full tuition along with other college costs like books and room and board. Just make sure you qualify. In order to qualify for Yale’s financial aid program, both parents must be working or in school and making less than $60,000 annually. If only one parent is working, their annual income can not exceed $45,000. If neither parent works or goes to school, their annual income can not exceed $20,000.

7. Michigan University

Michigan University is an excellent choice if you are looking for financial aid. The majority of Michigan University’s students receive financial aid, with an average amount totaling $28,000. The university offers very generous need-based and merit-based grants, which means it may not be necessary to take out student loans at all. Furthermore, Michigan University offers funding through the Federal Pell Grant program as well as state grants. Note: You must complete an application for Federal Financial Aid in order to apply for state aid and loans at any school—you cannot apply for one without applying for both.