Pomona College in California awards the best financial aid for students, according to The Princeton Review.

The Princeton Review recently ranked colleges with great financial aid using reviews from nearly 130,000 students at 379 top colleges. The ranking revealed Monday that Pomona College provides great student financial aid.

The private liberal arts college has met student's demonstrated financial need with grants, not loans, at a time when financial aid has become a crucial factor in a prospective student's college selection process.

According to a survey of the nation's first-year students conducted by UCLA's Higher Education Research Institute, 46 percent of Freshmen indicated that education costs were a "very important factor in their college choice - up nearly 15 percentage points since 2004, the Los Angeles Times reported. They also found that nearly 49 percent of students said that a financial aid offer was a very important consideration in choosing their current campus - up from 34 percent in 2004.

"Costs and financial aid are becoming more important and salient to students' decisions in part due to increased tuition," Kevin Eagan, interim director of UCLA's Cooperative Institutional Research Program, told the Times. "Tuition has increased particularly at public institutions."

According to the Princeton Review, it costs $45,500 to attend Pomona College. The average total financial aid package is $45,296. The school claims that 100 percent of their packaged financial aid offers include no loans, but Students and families may request loan assistance as needed.

Top 10 Colleges With Great Financial Aid

1. Pomona College (Claremont, Calif.)

2. Swarthmore College (Swarthmore, Pa.)

3. Princeton University (Princeton, N.J.)

4. University of Virginia (Charlottesville, Va.)

5. Yale University (New Haven, Conn.)

6. Vassar College (Poughkeepsie, N.Y.)

7. Rice University (Houston, Texas)

8. Claremont McKenna College (Claremont, Calif.)

9. Columbia University (New York, N.Y.)

10. New College of Florida (Sarasota, Fla.)

View the complete Top 20 List here.

The Princeton Review released its annual college rankings in 62 categories on its website and "Best 379 Colleges" Guidebook earlier this week.