Incentive "Financial" Aid

<p>Has anyone heard of people getting a ton of money to top schools as "incentive money" to come, even when their parents do not seem to need the money?</p>

<p>I have heard through third sources that friends of friends have received nearly full rides to HYPS, and other top schools. However, it seems like thier family does not need the money. Do you think these families lied on their forms, or is there really this "incentive" money that colleges use to sway people to attend thier university.</p>

<p>I know that top schools say that they do not give merit, but I feel as if they give money to those they really want at their university, and just call it financial aid.</p>

<p>Has anyone heard something similar?</p>



<p>This is quite fascinating since none of these schools offers merit aid of any kind. They offer need based aid only. In my opinion, the likelihood of someone getting a "near full ride" at HYPS would only be with significant financial need.</p>

<p>The top schools have redefined need to include families with incomes up to $200,000 a year, so it is quite possible that some students have received significant aid when they are not what is traditionally considered to be "needy".</p>

<p>Agreed that the top schools have redefined financial need based awards. BUT the OP was inquiring about "incentive" money...and this, to me, sounds like merit awards to entice sought after students to attend. HYPS do not award this type of financial aid to my knowledge. They award only need based aid.</p>

<p>But need based aid consists of grants (could be considered "incentive" money) and/or loans.</p>

<p>Jerz..yes, need based aid includes grants. Yes, some colleges do "package" their need based aid to include less loans for some students. P, Y and H, I believe either do not include loans or they are very limited in amount under their new finaid restructuring. So...this would not apply to those schools as an incentive.</p>

<p>Maybe the parents see these grants at the top schools as "incentive" since they're not being offered these at less selective schools.</p>

<p>Well if a school really wants you, they can give you more grant money and still call it financial aid. </p>

<p>In fact, tonight, I heard of a very intellegent URM whose parents hold professional jobs (lawyers) and she is the only child going to college who received nearly full rides at all his schools and it was called "financial aid." Those who know her say that she is the last person to need THAT much aid, and plus her other scholarships, it is almost like she is getting paid to go to college.</p>

<p>Outsiders never truly know someone's financial situation. Perhaps this two income professional family has extenuating circumstances (high medical bills, supporting other relatives, etc) that creates financial need. Many of the top schools are generous enough to respond to that need.</p>

<p>I suspect that there are times "incentive" grants are awarded, even when schools state that they are not. Private schools may award money from endowments in whatever manner the terms of the endowment allows it to be awarded. There really would be no way of an outsider knowing what is going on. I have no evidence that this is happening --- I just figure that since it CAN happen, it probably does happen. </p>

<p>I have also heard stories of students who received "tuition reductions." Sounds like a scholarship to me, regardless of what it's called. It could just be urban legend, though, since I haven't seen the family income/assets or the actual bill from the college.</p>

<p>It just seems to me that when things can happen ... and when you hear enough anecdotal evidence ... it just may actually be true in some cases. However, it is what it is. Life is not fair ... get used to it.</p>

<p>I've also heard families state that their child is attending this Ivy or that one on a full scholarship (for top grades) or an athletic scholarship. Clearly this isn't true. So perhaps, they have been granted full Financial Aid but the family doesn't want to announce that. People often "spin" the truth.</p>

<p>Don't believe anything someone else tells you unless they show you the award letter and their tax return. I have a lot of good friends, but I don't have any friend who has shown me the letter and their tax returns. (Yeah, I don't show mine even to my best friends either.) There are stories, and there is what you can see in writing. Get it in writing if you want to count on it.</p>

I have heard through third sources that friends of friends


<p>Ever play "Telephone"? 'Nuff said.</p>

<p>I know, I am skeptical as well. Which is the reason I posted here, because I wanted to see if anyone else from across the country and world had heard the same thing or not. </p>

<p>If I was sure that this was true, there would be no need for me to clarify.</p>

<p>Thanks everybody.</p>