Times are tough and tuition costs are sky-rocketing. Now more than ever, college applicants are in need of financial aid in order to attend school. In this week’s column, our experts will tell you whether or not requesting aid can affect your chances of getting into the school of your dreams.
“Are applicants who need financial aid evaluated differently?” — Lee Magnus, Richmond, VA
See all 21 answers to this week’s question
A: A Few Key Facts
Yes, each student is evaluated independently based on the information from the Free Application for Federal Student Aid, (FAFSA), and, in addition, for many schools, the CSS Profile. Each case is evaluated on a case to case basis, and the amount a family can reasonably be expected to contribute (EFC), is based on both student and parent contributions. This is calculated from data from the federal application form and a federal formula. The need varies based on the cost of the particular school. The cost of attendance (variable) minus the expected family contribution (constant) equals the need (varies). In addition, special circumstances i.e. medical, not covered by insurance, change in marital status, or employment status, etc. not reported on FAFSA must be sent to each college, and reviewed.
Sue Enis — Director of College Counseling – RASG Hebrew Academy
A: You’re Accepted — If You Have the Cash
No one likes to be rejected. Whether it’s a student inviting a date to the prom or a college offering admission to an applicant, everyone wants to know that their invitation will be accepted. When colleges admit a student, they hope the student will enroll. They therefore offer aid to students with financial need so that the student is not forced to enroll elsewhere. When adequate funds are not available and the college believes the student will not be able to attend without aid, they sometimes make the difficult decision to deny that student’s request for admission.
Joan Bress – Director, Certified Educational Planner – College Resource Associates
A: Please Sir Can I Have Some More?: Tough Economic Times
During these tough financial times for families and colleges, students who apply for financial aid are evaluated differently at private colleges that do not offer need blind admissions. If the college offers need blind admissions, it does not weigh financial need at all during the admission process. This goes for all public universities as well. However, few private colleges are wealthy enough right now to do this. If a student does not need financial aid, then there is an advantage, especially with students who are waitlisted. All things being equal, many colleges very well may select a student who doesn’t need aid.
Rebecca Joseph – Executive Director & Founder – Get Me To College
A: Schools Can Be Need Aware, Need Blind, or Need Sensitive
Schools vary in whether they consider an applicant’s financial need in their admissions evaluation. While some schools are need aware, meaning that they consider a student’s financial need, others state that they are need blind, meaning that they do not consider whether a student has any financial need, when making their admissions determination. Some also state that they are need sensitive, meaning that they consider the financial need for those students that are on the margin for being admitted. For need aware and need sensitive schools, a student having financial need may adversely impact the final admissions decision.
Jane Hoffman – Founder – College Advice 101
A: Applicants are Evaluated Based on the College’s Admissions Policy
Whether or not an institution takes a student’s financial need into account as part of the admissions process depends on the schools admission policy. Some schools have a Need-blind admission policy this means a student’s financial need is not taken into account when they admit students. Most public institutions are need blind and many private institutions are as well. However, just because a school is need blind in terms of admission does not mean they will meet all of your financial need. Other schools are Need-sensitive or Need-aware. Schools with this type of admission policy will typically admit many students Need-blindly they also pay attention to the colle
ges’ projected financial resources.
Mau
