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Old 07-04-2009, 12:41 PM   #15
thumper1
Senior Member
 
Join Date: Aug 2004
Posts: 9,279
Quote:
"Merit aid" is something which with I'm unfamiliar. A merit award "adjusted" based on need sounds like financial aid packaged to sound like a pseudo-honor.
Schools have limited amounts of resources. If a student is going to get money from the federal government, then the school can use that money for ANOTHER student who is not going to receive those same grants (Pell, etc).

I'm sorry, but I have no problem with this. I think schools should award need based aid first.

NOW having said that...there ARE some scholarships that are awarded without even filing the FAFSA or Profile. Those are merit only.

Another thing to consider...some schools will NOT award institutional aid after the freshman year IF the student does not apply for it when they are entering their freshman year. I know we would all like to think that our financial situations are not going to change drastically, but in these economic times, I would rather be save than sorry. Of course, if you don't want to disclose your finances, that is a reason for not completing the forms...but buyer beware...if you need institutional aid in the future, you should check to see if your school will provide it if you don't file as an incoming freshman.

Also, no evidence of this...but it's my opinion that the "tip" in admissions for being a full pay is overrated. If two candidates are equal and one is full pay and the other is not (and the school is either need aware or NOT need blind), then perhaps a small tip. Also for schools with limited resources, one "might" be asked off of the waitlist if they can pay the full bill before someone who can't...assuming very similar other admission requirements.

BUT I do not believe that a student who is a full pay will be admitted when they would not otherwise be competitive for admissions...unless, of course, they donate a building or endow something substantial. BUT then...these folks probably aren't worrying about whether or not to file a FAFSA
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