Does full pay make a difference at small LACs?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
My kid is head over heels in love with a small northeastern LAC. It's not one that many in this area seem to be familiar with, but it has that typical 25%ish acceptance rate. My kid has an UW 3.6, W 4.2, 32 ACT and full IB diploma...so I suspect this will be an application that is on the edge.
We have interesting financial circumstances where we can pay in full, but also may qualify for aid. Would paying in full and not requesting to be considered for aid possibly help tip the scales? |
Anonymous
|
Unless the school explicitly says it is "need blind" then in a close case your ability to pay might make a difference. If you can't find the answer online, you could anonymously call the admissions office and ask them straight up.
I think most SLACs are need aware - ie: if it's between 2 equal, borderline candidates, the one who's full pay will be admitted. Union College - https://www.union.edu/admissions/school-counselor/resources/needblind-needaware/ Haverford - https://www.insidehighered.com/news/2016/06/27/haverford-college-shifts-need-blind-need-aware-admissions Kenyon - http://kenyoncollegian.com/2014/04/03/money-matters/ Oberlin - http://blogs.oberlin.edu/applying/selection_process/need_sensitivit.shtml |
Anonymous
That "borderline" is key -- if your child is a strong candidate, full-pay won't matter. If s/he is likely to be one of the last 5 or so admitted, you might want to have full pay in her pocket, waiting to tip the scales. |
Anonymous
If you can pay in full, how can you qualify for need-based aid? The EFC is what it is. |
Anonymous
| Yes |
Anonymous
|
It will definitely make a difference in favor of admission, except at the very top level of endowment per student (which don't have to care as much about any one individual tuition payment).
|
Anonymous
Maybe a grandparent is willing to pay |
Anonymous
What's the cutoff? Because LACs dominate the list of endowment per student. Where would you draw the line here? http://www.reachhighscholars.org/college_endowments.html |
Anonymous
| Have her apply ED |
Anonymous
I'm not the OP, but when my mom died she left each of her four grandchildren $80K for college. We make about $160K/year so that might qualify us for aid especially at the elite schools with big endowments, but with the educational trust, 529s, and out of pocket we'd still be able to swing full pay. It's actually an interesting question. My kids are freshman in HS and 7th grade |
Anonymous
Oops, hit send too soon. My kids are still a few years from college but it's a "dilemma" we'll probably have too. |
Anonymous
| Op here. You guessed it. We only make around 100k, but have a relative who set up trust funds for college for our kids. |
Anonymous
| My one single data point says yes, it probably tipped the scales for an unhooked kid in the bottom quartile of test scores and grades. But all in, we probably spent $75,000 a year for her to go to college. Just be sure you know-$$$-what you're getting into. |
Anonymous
| They'll take your full pay and use it for other kids' financial help. If you're cool with that, pay. |
Anonymous
Not exactly -- they'll take your full pay, add it to the income from the endowment, and educate your kid. Kids who can't pay full price get more money from the endowment $, but all students are paying less than their educations cost. If that bothers you, look at for-profit schools. |