What do colleges know about student's high school finances?

If a student receives (25% of tuition) financial aid for two of the four years she is in boarding school, but the family circumstances change and the student is no longer eligible for financial aid in college, will the colleges she applies to know that the student was on financial aid in high school? In other words will this information be on her transcripts? or be communicated to them in some other way?

No, unless the student/parents explain it on the CSS (as other expenses)

The college won’t know about student financial aid in HS. BUT the college WILL know your kiddo went to a private HS.

If you wonder whether this will matter for financial aid determination purposes…no!

I just wondered if I needed to explain our financial situation all the way back to high school and why things changed
for us.

No.