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Private & Independent Schools
Reply to "Liklihood/Amount of Financial Aid"
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[quote=Anonymous]Based on the comments here and the forum in general, many posters don't understand the purpose of Financial Aid or how it is administered by the schools. FA is an enrollment tool that helps the school fill its classes especially with students it wants. In its Financial budget for the year, the school allocates a fixed amount for Aid. Once that is allocated, there isn't any more money. The average award is 50% of tuition which means that half of the FA awards are for less than 50%. Very large awards are extremely rare because they absorb such a large percentage of the FA budget. If at this late date there is money left in the FA budget and the school wants the student badly enough --- for whatever reason --- then there's a possibility. If there isn't any it won't matter how good the story is or acute the need of the applicant.[/quote]
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