Straight talk: give up chance of aid and improve admit chances?

[Anonymous]

Through a lucky circumstance, I am extremely fortunate enough to be able to fully pay for DC’s college for four years. But I would be very happy to keep that money towards retirement or an inheritance for DC. I don’t have so much that this is like loose change.

That said, DC wants to go to the absolute best school they can get into. DC is going to shoot their shot for the usual T10+ dream schools, though realizes “nobody gets in.” DC is an academic high-achiever but is unhooked.

I’m curious to hear from people how much it matters, and at which specific schools, whether DC’s application signals that they can pay for the whole thing. (I assume this is signaled by not filling out the FAFSA? Is there any other way this is signaled?) I imagine the applications are initially reviewed without reference to economics but then maybe a subsequent round of admissions review takes family finances into account? (Maybe a current or former AO, among others, can speak to this?)

Any input on this, whether based on what you’ve heard or direct personal experience, on this is greatly appreciated.

[Anonymous]

It doesn’t matter at all at T10 schools.

[Anonymous]

If you have enough you wouldn’t probably get financial aid, just merit.

[Anonymous]

If you've saved enough to pay for 4 years, you won't get need based aid anyway. He'll still be eligible for merit aid, and if circumstances change after admission you can fill out the fafsa for sophomore year and maybe get loans for years 2-4.

[Anonymous]

Applications ask whether you are applying for aid. Depending on the school, they ask for additional information beyond the FAFSA if you are.

[Anonymous]

T10s are need-blind for admission. Admissions won't see your FAFSA. T10 financial aid will also require the CSS Profile, which will look at your assets.

Before applying for aid, see if you are eligible. Use individual college Net Price Calculators for estimates.

[Anonymous]

If you can full pay, it is extremely unlikely you would be eligible for need-based aid at T10s. They do look at assets, not just FAFSA.

T10s make admission decisions without considering your financial need.

[Anonymous]

Anonymous wrote:T10s are need-blind for admission. Admissions won't see your FAFSA. T10 financial aid will also require the CSS Profile, which will look at your assets.

Before applying for aid, see if you are eligible. Use individual college Net Price Calculators for estimates.

I really doubt any school, T10 or not, is 100% need blind, especially these days. Is it a lucky coincidence that year after year they have a large number of full pay families? Yeah, those families can afford tutors, private schools, etc. However, from the sheer number of applicants, there are enough those needing full aid who can clear the admissions bar and fill the class.

[Anonymous]

Run the NPC for each school and see if you would receive any aid. If the answer is no, there is no point in applying for it.

At many of the top schools all aid is need-based. A few offer a very tiny number of scholarships not based on need. As you go down the list to less selective schools, they may offer merit money, and this doesn't depend on your financial standing nor (in the vast majority of cases) do they need you to fill out financial aid forms.

[Anonymous]

Anonymous wrote:

Anonymous wrote:T10s are need-blind for admission. Admissions won't see your FAFSA. T10 financial aid will also require the CSS Profile, which will look at your assets.

Before applying for aid, see if you are eligible. Use individual college Net Price Calculators for estimates.

I really doubt any school, T10 or not, is 100% need blind, especially these days. Is it a lucky coincidence that year after year they have a large number of full pay families? Yeah, those families can afford tutors, private schools, etc. However, from the sheer number of applicants, there are enough those needing full aid who can clear the admissions bar and fill the class.

The need blind thing is a lie, IMO. I know of a situation first-hand where a student was accidentally cc'd on emails between an admissions officer and a finance officer that made it clear the student was admitted following their decision to uncheck the "will apply for aid" box that was originally checked. That was a private T20. Schools need to protect yield, they can't afford to admit students who have a high likelihood of rejecting the offer because of cost.

[Anonymous]

Are you planning on hiding that money?

You're not going to get need based aid if you have the money to pay. It's not optional to spend your resources.

[Anonymous]

For the top tier, IT DOES NOT MATTER. They want the best students, regardless of whether those students can pay their way. Unless you're a development family, in which case you donate at least 10M and schmooze a board member or two.

Money might start to matter a bit for the second tier, but it's when you get to the third tier that it really makes a difference.

[Anonymous]

For princeton this year it least it would have been better to qualify for full aid.

[Anonymous]

Anonymous wrote:For the top tier, IT DOES NOT MATTER. They want the best students, regardless of whether those students can pay their way. Unless you're a development family, in which case you donate at least 10M and schmooze a board member or two.

Money might start to matter a bit for the second tier, but it's when you get to the third tier that it really makes a difference.

This sounds very naive. Of course they want the best students, but they have more "best students" to choose from than they have spots. They will make a list of 10 "best students" and then take the 5 who are full pay.

[Anonymous]

Don’t complete the FAFSA that’s the signal.