<p>Sounds like they are moving money out of merit scholarships to financial aid, at least for the freshman class. What do you want to bet that over time Caltech will turn into a need only school, like MIT?</p>
<p>Direct link: </p>
<p>[Caltech</a> Undergraduate Admissions: Merit Scholarships](<a href=“http://www.admissions.caltech.edu/affording/scholarships]Caltech ”>http://www.admissions.caltech.edu/affording/scholarships ) </p>
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Caltech:
In order to strengthen our need-based financial aid program even further, we will be redirecting our freshman merit-based scholarship programs to our need-based financial aid program, effective with the class that will enter in September 2009. Caltech will continue to support the Upper Class Merit Scholarship program for rising sophomores, juniors and seniors to recognize exceptional performance in coursework and research.
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