Is this a myth or reality that some colleges sweeten the FA pot for particularly attractive candidates? I have heard parents claim their children received their need-based financial aid in full, and then merit aid on top of that as an extra incentive. The implication is that their S or D was so wonderful that the school really wanted to make sure the student chose to attend, and thus essentially gave them more than what they needed based on FAFSA and/or the CSS.
However, the schools we've visited seem to offer either / or, meaning they give FA to those who need it regardless of any merit ranking, and then academic or talent merit aid to wealthier students as a way to lure them in. One school we visited does claim to give both types of aid to one student, but it's definitely not stacked. Merit gets put in the pot first, and then need-based aid is added to reach the total need amount. No FA student is going to ever get more than their calculated need, in other words (not that I expect they should, of course). Affluent students, however, do receive more than they technically need, since their EFC is the total COA yet they may receive as much as a $25,000 merit award.
Can anyone verify that their talented S or D received a "sweetened financial aid pot?"
↧