I don’t think schools think they “owe” applicants anything----even those they lavish with financial aid, whether it’s merit or need-based. It’s not given as a reward for the student’s accomplishments or promise of future performance…It’s offered as an inducement to help the school land the class it wants. If a school doesn’t meet full need for a student it simply means they either don’t have enough money to ensure that attendance is affordable for all those with need, or they have the money but other priorities outweigh it. In such cases, some applicants with need will lose out. End of story.