Did anyone get more than $30K in merit aid at private college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make more than 180K and our kids both got merit aid at decent LAC's. There's some formula you can find on College confidential.com that has to do with the size of the school's endowment, and it involves looking up the school's tax records, rather than going by what's on their websites. We're grateful that both of our children go to schools with really large endowment where there is extra money 'floating around' to finance summer internships in other cities, study abroad, etc. in addition to the merit aid.

The poster above is incorrect when she says not to even bother. There are some schools where something like 80 percent of the students receive some financial aid. That includes people at the upper ends as well as the lower ends. Particularly people with multiple kids in college at the same time.

You are conflating merit and (not need-based) and financial aid (purely need-based). If your HHI is >$180,000, then at some schools, it doesn't matter how fabulous a student you are - you will not get any need-based aid. These are the schools at the top of the USNWR rankings. Therefore the PP who says "don't even bother" is correct, because these schools will not give you any aid. None. Zilch. Zip.

If you go down those USNWR rankings, however, to lower-ranked schools that do give merit aid - not need-based; merit-based - then yes, you should look closely at your options. You could be a billionaire, but if your child is a high-performer who scored well on SATs/ACT, then those schools will give your child significant scholarship money.

By using the Net Price Calculator (NPC) for each of these schools, you can guesstimate what kind of merit aid your child is likely to get, and what the bottom line will be for you to pay for tuition, room and board.

NPC guesstimates merit aid? You mean FA, right?

Some schools' NPCs also give an estimate of merit aid. If the NPC asks questions about GPA and test scores, it may provide merit aid estimates. I know Lawrence University spit out an estimated net price, including merit aid, that was almost exactly what DC was ultimately offered.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make more than 180K and our kids both got merit aid at decent LAC's. There's some formula you can find on College confidential.com that has to do with the size of the school's endowment, and it involves looking up the school's tax records, rather than going by what's on their websites. We're grateful that both of our children go to schools with really large endowment where there is extra money 'floating around' to finance summer internships in other cities, study abroad, etc. in addition to the merit aid.

The poster above is incorrect when she says not to even bother. There are some schools where something like 80 percent of the students receive some financial aid. That includes people at the upper ends as well as the lower ends. Particularly people with multiple kids in college at the same time.

You are conflating merit and (not need-based) and financial aid (purely need-based). If your HHI is >$180,000, then at some schools, it doesn't matter how fabulous a student you are - you will not get any need-based aid. These are the schools at the top of the USNWR rankings. Therefore the PP who says "don't even bother" is correct, because these schools will not give you any aid. None. Zilch. Zip.

If you go down those USNWR rankings, however, to lower-ranked schools that do give merit aid - not need-based; merit-based - then yes, you should look closely at your options. You could be a billionaire, but if your child is a high-performer who scored well on SATs/ACT, then those schools will give your child significant scholarship money.

By using the Net Price Calculator (NPC) for each of these schools, you can guesstimate what kind of merit aid your child is likely to get, and what the bottom line will be for you to pay for tuition, room and board.

NPC guesstimates merit aid? You mean FA, right?

No, I mean merit aid.

[Anonymous]

DS was offered over $30k in "merit based" $$ from several schools. I was dismayed because he was recruited for crew and we were told these prestigious schools don't give boys $$ for crew. I put merit in quotes because he had a 2.6 gpa in high school.

[Anonymous]

Almost all of the smaller liberal arts colleges (think Beloit, Denison, Wheaton, Hope, Eckard, etc.) offer substantial merit aid once you get below Williams and Amherst. Among larger universities, Washington Univ in St Louis and GWU are known to spread the merit aid pretty widely to boost their yields. These merit awards don't often require super stellar grades and scores. It's really just a way to fill the freshman class.

[Anonymous]

Anonymous wrote:Almost all of the smaller liberal arts colleges (think Beloit, Denison, Wheaton, Hope, Eckard, etc.) offer substantial merit aid once you get below Williams and Amherst. Among larger universities, Washington Univ in St Louis and GWU are known to spread the merit aid pretty widely to boost their yields. These merit awards don't often require super stellar grades and scores. It's really just a way to fill the freshman class.

Does Washington University have trouble filling the freshman class? I find that hard to believe.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Almost all of the smaller liberal arts colleges (think Beloit, Denison, Wheaton, Hope, Eckard, etc.) offer substantial merit aid once you get below Williams and Amherst. Among larger universities, Washington Univ in St Louis and GWU are known to spread the merit aid pretty widely to boost their yields. These merit awards don't often require super stellar grades and scores. It's really just a way to fill the freshman class.

Does Washington University have trouble filling the freshman class? I find that hard to believe.

I don't think Wash U is doing much merit aid now - maybe 20 years ago.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Almost all of the smaller liberal arts colleges (think Beloit, Denison, Wheaton, Hope, Eckard, etc.) offer substantial merit aid once you get below Williams and Amherst. Among larger universities, Washington Univ in St Louis and GWU are known to spread the merit aid pretty widely to boost their yields. These merit awards don't often require super stellar grades and scores. It's really just a way to fill the freshman class.

Does Washington University have trouble filling the freshman class? I find that hard to believe.

I don't think Wash U is doing much merit aid now - maybe 20 years ago.

And OPs kid isn't likely to get in with low scores. They are very score conscious. My DC was recruited for sports and the coach wanted her to take the SATs again because her scores were only 2180.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Almost all of the smaller liberal arts colleges (think Beloit, Denison, Wheaton, Hope, Eckard, etc.) offer substantial merit aid once you get below Williams and Amherst. Among larger universities, Washington Univ in St Louis and GWU are known to spread the merit aid pretty widely to boost their yields. These merit awards don't often require super stellar grades and scores. It's really just a way to fill the freshman class.

Does Washington University have trouble filling the freshman class? I find that hard to believe.

I don't think Wash U is doing much merit aid now - maybe 20 years ago.

And OPs kid isn't likely to get in with low scores. They are very score conscious. My DC was recruited for sports and the coach wanted her to take the SATs again because her scores were only 2180.

Division 3 schools don't recruit for sports. Wash U. is a Division 3 school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Almost all of the smaller liberal arts colleges (think Beloit, Denison, Wheaton, Hope, Eckard, etc.) offer substantial merit aid once you get below Williams and Amherst. Among larger universities, Washington Univ in St Louis and GWU are known to spread the merit aid pretty widely to boost their yields. These merit awards don't often require super stellar grades and scores. It's really just a way to fill the freshman class.

Does Washington University have trouble filling the freshman class? I find that hard to believe.

I don't think Wash U is doing much merit aid now - maybe 20 years ago.

And OPs kid isn't likely to get in with low scores. They are very score conscious. My DC was recruited for sports and the coach wanted her to take the SATs again because her scores were only 2180.

Division 3 schools don't recruit for sports. Wash U. is a Division 3 school.

They don't give scholarships for sports (not officially) but they most definitely recruit athletes.

[Anonymous]

08:42 Please know recruiting is done at D3 and Ivies for sports. Students are told (by coach) they will be accepted and will receive XX in aid. For instance, "You have a 3.0 GPA and we give you $12,000 on top of any FA."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DS is a junior. We're starting the college search. We don't qualify for FA, but can't afford more than $25K per year.

He's applying in-state, but wants a few more options. (3.87 unweighted gpa, but poor PSAT math scores, probably English/theater major). He's considering East Coast schools that offer merit aid like Juniata, Ursinus, U Vermont, Allegheny, Lesley, Fairfield, Muhlenberg, Mary Washington, Saint Michael's, Clark, Washington College (MD), College of New Jersey, etc.

BUT, I'm wondering, has ANYONE with similar stats received more than $30K in merit aid at any of these or similar private colleges? Anyone received in-state price at public OOS schools?

I don't want to waste our time applying if there's no hope that merit aid awards will bring DS's cost down to around $25K.

Thanks!

Wrong approach. You need to apply and let it play out.

Worst advice EVER.

How so?

Generally speaking, people with family incomes north of $180k (i.e., DCUM "middle class) and two kids will receive ZERO financial aid. Let me say that again: ZERO. The cost to attend college will be in the neighborhood of $60k per year unless the student goes to an in-state public or an OOS public with reasonable OOS tuition (i.e, not Michigan, UVA, W&M, or any UC), or unless the student is awarded merit aid by a private college that gives merit aid. (Most of the USNWR top-rated schools give financial aid only, no merit aid.)

Estimate your expected family contribution using the on-line estimator and look at that number closely. It's likely a low-ball of what colleges will expect you to pay. If you can't afford that number, it's time to take a good, hard, realistic look at where your kid can go to college. If you can't afford your EFC, your kid should not waste any time looking at Ivy League schools and their ilk.

that's exactly our situation and what we r experience right now.

[Anonymous]

Anonymous wrote:08:42 Please know recruiting is done at D3 and Ivies for sports. Students are told (by coach) they will be accepted and will receive XX in aid. For instance, "You have a 3.0 GPA and we give you $12,000 on top of any FA."

Absolutely not how Ivy recruiting is done. First they have to use the Academic Index that combines GPA and scores. Second, they cannot give aid above family need. For the Ivies that still require loans as part of the aid package, they will substitute grants for recruited athletes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Almost all of the smaller liberal arts colleges (think Beloit, Denison, Wheaton, Hope, Eckard, etc.) offer substantial merit aid once you get below Williams and Amherst. Among larger universities, Washington Univ in St Louis and GWU are known to spread the merit aid pretty widely to boost their yields. These merit awards don't often require super stellar grades and scores. It's really just a way to fill the freshman class.

Does Washington University have trouble filling the freshman class? I find that hard to believe.

Wash U is a great school. But its yield is only 34%. Their admission rate is low, but the two-thirds of those admitted choose another school. So it needs to boost yields with merit aid.

[Anonymous]

10:27 - let's not be naïve. Athletes who qualify for FA (which is never enough) are told "merit money" will be added. I will adjust the previously stated amount as I believe a 3.0 GPA qualifies for an additional $9000 not $12,000." If your child not does not qualify for FA and is not being recruited you would not have this information.

[Anonymous]

10:27 - I do agree that "Grant" is a better (accurate) term than "merit aid."