Forbes names Augustana one of 25 private colleges with generous financial aid

On the Forbes list of Top Colleges again this year, Augustana College has been recognized as one of 25 private colleges around the country that offer students generous financial aid and scholarships. For all 25 schools on the Forbes list, scholarships cover at least half of the total cost of tuition.

Augustana President Andrea Talentino said, “We want every talented, curious, bold thinker who dreams of an Augustana education to be able to walk through these doors. And then their experience here will open up so many more.”

Augustana offers financial aid to 100% of its students — one of 20 schools on the Forbes list that does. Merit awards include academic scholarships up to $32,000 per year, fine arts scholarships up to $4,500 per year, and many other grants and scholarships. For the entering class in 2025, 19% received the highest academic award, the presidential scholarship.

“Seeing Augustana included on the Forbes list affirms the important work we do in financial aid—especially our efforts to create standout scholarship and aid packages for students,” said John Cage, Augustana’s director of financial aid. He considers his work challenging, and also profoundly rewarding.

“As a first-generation college student myself, I know firsthand how life-changing financial aid can be in shaping someone’s educational journey and future.”

Augustana also meets 100% of demonstrated financial need for qualifying students through a bold financial aid program called Augustana Possible. Since its launch in 2023, more than 500 high-achieving students from families with demonstrated financial need have benefitted from Augustana Possible. Forty percent of those students are the first in their families to attend college.

The vision and philanthropic support of 1975 graduate Murry Gerber made it happen, and through donor support Augustana is able to offer more generous financial aid than many other colleges. Gerber wanted great students with limited financial means — the kind of student he was — to be able to achieve their dream of an Augustana education.

Gerber committed $40 million to increase endowed scholarships, matching dollar-for-dollar the support that came in from donors he inspired. Since March of 2022, Gerber has already matched an additional $24.1 million from other donors.

“The Gerber Grand Challenge that created Augustana Possible has changed lives,” said Kent Barnds, executive vice president for strategy and innovation at Augustana College. “It’s a perfect example of generosity building generosity, and fits the character of this college.

Offering generous aid helps the college attract students who want a challenging liberal arts college experience and maintain overall enrollment. “And once they are here at Augustana,” Barnds said, “we continue our investment in every student. We invest in students’ well-being, their exploration, and their futures.”

Some examples of the many ways Augustana invests in each student:

• Augie Choice, a $2,000 grant to use towards study abroad, an internship, or a research or creative project.
• A personalized, customized Success Team for every student, including mentors, counselors, career coaches and more, beginning day one
• More than 170 student organizations, where students build leadership skills and connections
• A balance of challenge and support that allows students to accomplish more than they imagined they could in college; for example, Augustana is in the top 1% nationwide, among all NCAA divisions, for Academic All-Americans – student-athletes who excel in both academics and athletics
• A network of alumni professionals who serve as mentors and advisors in careers representing most of Augustana’s 100+ majors and other academic programs.

It all adds up to a highly valuable experience, with an outstanding return on investment, Barnds said.

For this, Augustana appears on another noteworthy list: the 75 new “Dream Schools” in The New York Times-bestselling author Jeff Selingo’s book, “Dream School, Finding the College That’s Right for You” (Scribner, Sept. 2025). The list highlights colleges and universities offering a dynamic student experience, accessible admissions and strong career outcomes.