<p>I've heard it said that some colleges don't like to "stack" financial aid -- meaning they either give you merit aid or they give you need-based aid -- but they don't typically combine. S2 will have very good stats AND need. Does anyone here know how most colleges treat this type of "combo" student when it comes to financial aid?</p>
<p>IMO I would think this type of student would be much more highly desired than the strictly need based student. S1 did get a combo package but I'm just not sure how typical this is.</p>
<p>Well, I don’t know how typical it is, but my son also had good stats and full need. A&M College Station (instate), University of Alabama, SMU, Tulane and Louisana Tech, all gave very generous packages with merit, federal need based and institutional need aid. He was wait-listed at Lehigh and Lafayette, but their pre-read packages looked the same, (he turned down spots on both wait lists, wanting to finalize a decision)We applied to a large range of schools, due to this very issue. Other schools combined merit w/federal need, but did not add institutional need based in the amounts needed for son to afford attendance. So I’m thinking combining need and merit must be somewhat common for a certain tier of schools. Hope that helps.</p>
<p>i think it means that if you get merit aid…that takes away from your financial need. if you go in “needing 20K” but the child gets 20K in merit aid…then the financial need becomes zero (you no longer “need” 20). essentially they cancel each other out. that is one thing i love about my son’s school…he received scholarships and pact money that come to more than the cost of tuition/housing/meal plan etc…so at bill time we get a refund. they stack everything…take out what the charges are and give you the rest back. if you want info on the school…pm me. if your son has need and good stats…this school could end up being very reasonable for you</p>
<p>You need to check the policies of EACH college. Some allow “stacking” of financial aid awards (including outside scholarship, merit and need based aid) up to the cost of attendance. Others will reduce financial NEED amounts by the amounts received in merit money or out side scholarships. YMMV.</p>
<p>I think it’s “rare” to find that information on a college website so add it to the question list for the colleges you are considering. I agree with parent 56 on the definition of stacking. Finaid packages often have a combination of awards. My boys colleges do not “stack” and decreased various amounts when they received outside scholarship dollars.</p>
<p>Most schools account for the merit aid when determining “need.” If school costs $50K and the financial aid analysis determine that you “need” $40K and you get $10K in merit aid - then you only “need” $30K more, so that is what they offer you in need-based aid.</p>
<p>Ny understanding of the general principle is that merit cannot reduce your FAFSA EFC, unless the merit aid eliminates all need-based aid. A simple equation is that the total of EFC and financial aid cannot exceed the cost of attendance if need-based aid is part of the package.</p>
<p>This is often presented as:</p>
<p>“The college’s Cost of Attendance (COA) - your EFC = your financial need. Your total need based aid package cannot exceed your financial need. Your total financial aid award cannot exceed your COA.” </p>
<p>Since the financial aid might include a portion of self-help, merit aid could reduce the amount of loans, summer earnings, or work study. The policies vary from school to school as some do not allow a 1 to 1 reduction of students’ contributions. MIT and Brown used to be known for such policy, but might have relented in recent years.</p>
<p>What Xiggi posted is true of many (if not most) schools. There are some, however, that do allow stacking of need based and merit awards UP TO the cost of attendance…including outside scholarships. One school that does this is University of South Carolina. If you get a need based award…and then a merit award, and then an outside scholarship…and then qualify for their NMSF awards or departmental scholarships…you can add them ALL together UP TO the cost of attendance. BUT MOST SCHOOLS do not allow this. Most schools will reduce your need in some way if you get merit or scholarship monies.</p>