<p>What Fordham needs to do is create a more dynamic financial aid system that combines merit and need. Fordham says they already do this, but it’s in fact a very limited system. </p>
<p>I might not have gone Fordham if they didn’t offer me merit aid. It’s prevented me from taking out at least $20,000 in loans–something I would have done had I chosen to go to some of the other schools I was accepted to. Merit aid really is an important factor in many talented students’ decisions to come to Fordham, and it should not be eliminated. </p>
<p>What Fordham needs to do is expand this. It’d be mathematical. (The following is just an example-- I’m guessing the real math that would go into this would be much more complicated.) They should take those students who they’ve accepted and find where they lie on a bell curve for how much Fordham wants them to come here-- a combination of SAT scores, GPA, extracurricular involvement (quantified on a scale of 1-10 or something), and other factors could go into this score. And then they should make another bell curve based on finances, and the applicant’s ability to shell out $200,000 to go here. The applicants who are the most talented and have the most need would obviously get the most money, and those who perhaps aren’t such great applicants and have no need would pay full tuition. Obviously, if a student was on the lower end of the curve in terms of academics, and was completely unable to pay tuition, they should get full aid. But perhaps we have a valedictorian who scored a 2400, but is also incredibly wealthy; they should get at least a 1/2 ride, if not a full one because the university wants to attract this student. Both extremes should be offered decent money.</p>
<p>But I think this idea would really benefit students who are in the middle, both economically and academically. They will still get a decent amount of aid based on academics and their financial situation. The extra money they get from merit may lead them to choose Fordham, over a school that only offers loans. Financial aid all too often leaves out the middle class, and I think this would be an innovative way to give the average families and average student better access to a unique education like that at Fordham.</p>
<p>Although I would like to know if anyone else on here thinks this is a decent idea, or if it’s even possible. Fordham would have to shell out more money to do this, especially if they’d be offering average students merit aid. And it may be too mathematical-- students whose GPA improved year to year, for instance, might be shortchanged when they really are talented students that admissions wants to see come here. Thoughts?</p>