<p>Given today's economy and how expensive schools are, can colleges be totally needs blind to the admissions process? Can they afford to be. Can they offer scholarships to everyone who needs it?</p>
<p>^ A tiny handful of schools have enough money to offer scholarships to fill all demonstrated need. The vast majority don't, and instead offer some combination of grants, loans, and work-study, which can mean a pretty steep price tag even if the school is nominally meeting 100% of need; essentially, they're just letting you borrow a substantial fraction of your "need." But that's separate from the question of whether the application process is need-blind. In fact, many schools don't offer to meet 100% of demonstrated need, even with loans. Their view is, "We'll accept you if you're qualified and help out with financial aid to the extent we can (which may not be much); but ultimately it's your problem to figure out how to pay for it." It's the schools that promise to meet 100% of demonstrated need and offer need-blind admissions but don't have a large endowment available for grants and scholarships that in some ways are in the toughest spot in these troubled economic times.</p>
<p>I think they are truly need blind; admissions and need-based aid are considered independently. A school that falsely claimed they were need blind would be greatly discredited and would probably be sued multiple times. Keep in mind that while admissions decisions are made without respect to need, a school may not meet 100% of need. But generally speaking schools with need-blind admissions typically have strong FinAid as well.</p>
<p>To bc's point...a school can be truly need blind in their admissions process and still meet 100% of the demonstrated need but that doesn't mean all of the money will be free. Vandy met 100% of our need according to the EFC but we still have loans and work study. There are only a few institutions that will meet 100% of your need with no loans.</p>
<p>Most private schools have limited endowments, such that it's a zero-sum game: The financial aid budget for the year can be split among relatively fewer or more students, but once it's allocated, only list-price payers can be admitted to these need-aware schools. More students can be helped if loans and work-study are part of the package, but a family's ability to qualify for and repay loans is considered (e.g., PROFILE considers home equity), and students must be willing to graduate with some amount of debt, and also to work some hours during college. The more students and families help to pay for college, the more students the college can help.</p>
<p>So in times like these when it's harder to qualify for loans, equity lines, etc. does a school start figuring this in to their numbers? Do they admit more knowing that they potentially will have less students able to afford to come. Are there statistics on this type of stuff? I can't help but think lots of kids will have a problem this year. Maybe they get admits, but can't afford to go after financial aid is doled out. What then?</p>
<p>Schools and students at the high end probably won't see much difference; needy students with high grades and test scores will likely still receive enough aid. Students trying to retrain due to economic conditions may indeed have a tough time, as may students unable to qualify for merit aid. Useful stats are probably not available.</p>
<p>being need blind in admission is one thing - offering "enough" financial aid is a whole 'nother story.</p>
<p>There is absolutely no way anyone can make generalized statements about schools with regards to financial aid or need-blind acceptance. Every school is different.
Yes - it is entirely possible to be accepted and wooed by a university and come up very very short on the financial part. This is why you see all these kids who get private loans. Be prepared to say no, pick a school more affordable and don't look back.
My advice - do some finanacial planning - run the numbers and talk to the schools at which you are applying about financial aid.
Some smaller private schools - even those without huge endowments offer very nice financial aid packages.</p>
<p>It really depends upon the school. Some of the larger schools are truly need blind and have their yields calculated so that they are taken into account when they decide who is to be accepted. As you get to the smaller schools, it can be dicier and some of these schools really have to make some decisions based on who can pay what as they are not budgeted to give everyone the funds they need. Many of these schools are up front that they are need aware. Some are deceptive in that they do not say this but their packages will be so loan heavy that it becomes questionable as to whether they are worth the money that will be owed. Some schools include PLUS loans in their packages. </p>
<p>However, just because you will have need does not mean you should necessarily eliminate such schools. If you are in the upper epsilons of the students there, you may get much more generous aid from need aware schools than a need blind, 100% need provided school. Just don't put all of your eggs in one basket when you need funds. </p>
<p>I tend to be a bit dubious with those schools that have admissions and financial aid offices one and the same as it would be too easy to have access to need data. In those schools where they are separate, even if they are need aware, the initial admissions decisions may be made with out regard to need, as there is no easy way to know how much need a person has by just looking at the app. Just because someone is applying for financial aid does not mean he is eligible for it and there is a big difference between a $5000 need and a $50K need. Also, need aware schools and schools that do not guarantee close to 100% of need often give merit money that can sweeten the admissions offers to those such schools most want.</p>
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Some of the larger schools are truly need blind and have their yields calculated so that they are taken into account when they decide who is to be accepted. As you get to the smaller schools, it can be dicier and some of these schools really have to make some decisions based on who can pay what as they are not budgeted to give everyone the funds they need.
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<p>With respect to your statement, one also needs to take into account FinAid as a 4-yr proposition. For schools that have limited resources they won't want to strain the FA budget on a freshman class that will be with them for 4 years. Worse yet is the school that provides adequate aid in year 1 and less than adequate aid in the later years. Also keep in mind that schools expect you to borrow more in the last two years than the first two years. This can be seen in the loan limits for Stafford loans.
FinAid</a> | Loans | Historical Loan Limits</p>