<p>Many of these smaller LAC’s do have private scholarships as well as their endowments, however, Central included. Many of these scholarships are available for sophomores and above though. They also don’t have the decked out buildings, aren’t funding huge research projects, smaller ones though, etc. Look at schools like Gustavus–usually ranks as one of the top for percent of students getting aid, much of it “merit”.</p>
<p>Also, “need” based aid isn’t really what is being discussed–put it’s relevant I guess. SW is one school our D applied to. They gave her automatic merit aid of $17,000. She committed to another school so we never saw final numbers there. Endowments and tuition are not the only fund raising options though too. </p>
<p>Again, point being, the discounting isn’t limited to the “lesser” schools like some suggest.</p>