<p>I have been using the College Board website to research schools with merit aid potential for my daughters talents. When you search on a college, you can view financial aid info that gives a sense about merit/scholarship opportunities vs. need-based financial aid. My question: how to interpret the information stating that NEED-BASED aid is determined by something other than need (e.g., academics, minority status, music). What does this mean? If it is need-based, then I thought it was based purely on the familys financial numbers, not on student merit. Of course, the admissions decision will reflect these merit-based factors, but why would they state that need-based aid is tied to things like music, academics, etc. Doesnt that make it merit aid?</p>
<p>Here are examples direct from the College Board website to illustrate the issue:</p>
<p>If you want/need large merit-based scholarships, then include a list a schools that are known to give such scholarships for high stats. Include some schools that give ASSURED big scholarships. </p>
<p>I wouldn’t only apply to schools with competitive scholarships…that’s too uncertain.</p>
It’s need-based aid, because you’re only eligible for consideration if you demonstrate financial need (according to the school). It’s nothing more than preferred packaging of need-based financial aid dollars. The idea is that the school will target their FA towards the students that they want the most.</p>
<p>This is very different from “true” (or “pure”) merit aid, for which every student is eligible. If you’re after true merit awards, you’ll need to read carefully. Many schools blur the distinction.</p>
<p>MisterK – your explanation that this is preferred packaging of need-based dollars makes sense; thank you.</p>
<p>mom2college kids – I agree with your suggestions. It seems to me that winning large competitive scholarships is a bit like winning the lottery – lots of well-qualified students just aren’t going to get them. My D is #2 in a class of 540 and a dedicated pianist and singer. No SAT/ACT yet as she is a sophomore. She will shrug her shoulders when asked intended major but social sciences wouldn’t surprise me, along w/ continued music participation. Thank you for your suggestions, and I welcome any others you may have!</p>
<p>As for the mention of need-based aid and “other” considerations…</p>
<p>Mr. K is right…
Some schools practice what is called “preferential pkging”. That means that if you have two students with the same “need”, but one has better stats or a special talent, then that student will get more money. This can be very confusing for a student with a 5,000 EFC who gets a lot less money than a classmate with the same EFC (but has better stats).</p>
<p>Since your D is only a soph, I would have her take a spring SAT (May? June?) as a practice for the October PSAT that she’ll take junior year (make sure she takes that).</p>
<p>At this point, deciding a major isn’t important…she has plenty of time. :)</p>
<p>When coming up with a school list, try to include a mix something like this…</p>
<p>2-3 reach schools (merit unlikely at these schools)</p>
<p>2-3 match schools (these may also be schools that have competitive merit.)</p>
<p>2-3 financial safety schools (these are schools that your child LIKES, will surely get admitted, and you know FOR SURE these schools will be affordable with family funds and/or ASSURED merit scholarships for stats.</p>
<p>There are schools that have “scholarship grids” that indicate the required test scores and GPA to get their assured scholarships (as long as you apply by the scholarship deadline). Since your D is a soph, no one can be sure if those scholarships will still be offered once your D is a senior, but it’s good to identify some now.</p>
<p>I like that strategy. Thank you. And we hadn’t been discussing the possibility of a spring SAT, but I see your point, and we’ll put that on the radar screen.</p>