<p>my mom was told by a friend of hers that my financial aid plan may change (as in improve) b/c top universities will give money offered to kids who did not matriculate to those who do.</p>
<p>i have never heard of this before and seriously doubt it.</p>
<p>Am i correct?</p>
<p>I would say that you are correct. Money are only given out based on financial need at top universities. Your income and net worth sets the bar for how much money you will receive. If students choose not to attend, those colleges will keep that money and either invest it and earn interests or spend it on school programs. There's very little chance that they will increase your aid just because they don't have to pay for other kids to come to their school.</p>
<p>It depends on the school. Some colleges DO allocate financial aid money (institutional) for students for the year...and if it is turned down they will offer it to others. Some schools simply do not use that turned down money at all...it goes back into the general fund.</p>
<p>Any school that meets full need would have no reason to change their finaid award. They have ALREADY met your full need. They won't meet more than that.</p>
<p>For other schools, it just depends on the school policy regarding dispersal of monies. I know of one case where there is a second "awarding" of financial aid (done after May 1). I know of another school where they DO continue to award their merit money after others turn it down.</p>