Applying for need based aid when you are ‘right on the edge’

[Anonymous]

My DC will graduate from high school in 2021. We likely won’t qualify for need-based aid, although possibly qualifying for approx $10K/year as my spouse just needed to take a pay cut and I’m assuming it is going to be a long time before pay returns to pre-Covid status.

My DC is looking at many “need aware” schools. Would you have your child NOT apply for financial aid, knowing that would likely help DC in being more likely to be admitted, even though you would be potentially leaving approx $10k on the table each year? TIA for your opinion.

[Anonymous]

If this is a question for you, and you can afford to leave 10k on the table, then do not apply. Leave that money for someone else. You’ll improve your kid’s chances too.

[Anonymous]

We did same. Had twins. And at best on calculators we were getting 5k in loans. May be a few thousand. Kids got in to top top SLACs off of waitlist as full pay. Doubt it would have happened otherwise.

[Anonymous]

Is this a real thing? If you don't check the "need aid" box, your chances of getting admitted are better? I wasn't aware..

[Anonymous]

Anonymous wrote:My DC will graduate from high school in 2021. We likely won’t qualify for need-based aid, although possibly qualifying for approx $10K/year as my spouse just needed to take a pay cut and I’m assuming it is going to be a long time before pay returns to pre-Covid status.

My DC is looking at many “need aware” schools. Would you have your child NOT apply for financial aid, knowing that would likely help DC in being more likely to be admitted, even though you would be potentially leaving approx $10k on the table each year? TIA for your opinion.

Run the NPC and believe the very high number you see. Then ask if it is worth applying when you may not want to unload part of your 401k.

[Anonymous]

Anonymous wrote:Is this a real thing? If you don't check the "need aid" box, your chances of getting admitted are better? I wasn't aware..

Yes, another privilege for the privileged few.

[Anonymous]

You can apply but it probably best your child look at state or more affordable schools as well. Most likely you'll get loans.

[Anonymous]

Do the Net Price Calculators now and again in the fall before applying. It's easy to imagine things might change by then for available financial aid.

[Anonymous]

At the tippy top schools you can usually apply for aid after you get in and they might give you a tiny bit

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is this a real thing? If you don't check the "need aid" box, your chances of getting admitted are better? I wasn't aware..

Yes, another privilege for the privileged few.

Common knowledge. If you don’t need aid, go full pay to increase your student’s odds.

[Anonymous]

There will be much less need based aids. Covid will change EVERYTHING.

[Anonymous]

Anonymous wrote:Is this a real thing? If you don't check the "need aid" box, your chances of getting admitted are better? I wasn't aware..

It's a thing for almost all privates other than a handful at the very top.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is this a real thing? If you don't check the "need aid" box, your chances of getting admitted are better? I wasn't aware..

Yes, another privilege for the privileged few.

Yes, it is truly amazing that places would give an advantage to those actually paying for the full services received. Imagine that.

[Anonymous]

The only caveat are lvies and some other top schools. But I can tell you my B student got in to top SLACS I never imagined she would and I am sure full pay helped coupled with holistic review, good ACT, good ECs, etc. Also got in to some top 40 national universities. Now not every school mind you but enough to give her options.

[Anonymous]

Please share which schools if you can