<p>The economic news is getting worse by the day. You could credibly suggest that we are at the cusp of a second great depression. As the adcoms and financial aid coms review folders in this admission season, do they have fixed instructions from the trustees in relation to the volume of aid available, or do the directives change as the situation changes? Have they already decided upon the volume of available benefit for 2009 or will it decline? And when do current students declare their need for increased aid?</p>
<p>It varies from school to school, but I would suspect that at most school's the mid-winter Trustee meetings included a tough conversation about how to handle increased financial aid requests. Schools with the means to do so (and that number is decreasing), will probably try to increase the percentage of the budget going to FA this year. The difficulty will be drawing enough from our endowment income (which has plummeted) to handle the increased expense. I know that some schools are looking at having to adjust their draw percentage. That's not awful if this is a short-term issue, but if things remain bleak they'll be in danger of eating their seed corn.</p>
<p>The answer to your last question will vary from school to school. We have our students refile for financial aid in January and their aid award is included with their contract which they receive in March. (That is a much later contract date than most schools, though.)</p>
<p>Has the expected and much touted increase in need for financial aid among those returning in the fall materialized? Are full pays and partial aid students asking for aid or additional aid?</p>
<p>whew... I'm not applying for FA! I hope this will help my chances.</p>
<p>Me neither! However, I'm guessing it won't really help at a need-blind school...</p>
<p>While I hope it will give me an advantage, I hope that it will not disadvantage those who are applying for FA.</p>
<p>Sorry. You cannot have it both ways. If you want it to advantage you, then it can only do so by disadvantaging others. A zero sum situation.</p>
<p>True. Your right. Technically it's impossible, but it's what I want.</p>
<p>Is there really such a thing as a "need blind" school this year?</p>
<p>Nah, all schools look. Some care less than others though.</p>
<p>More on Harvard's financial troubles.</p>
<p>I do not think they will care in terms of admission. If they can't give you FA they will accept you w/o FA. Think of need blind as the relationship from admission and aid being "blind".</p>
<p>Thanks for the link emdee. </p>
<p>And it looks like Harvard's troubles are far from over. Additional collateral calls could reek even more havoc on the portfolio.</p>
<p>From the Groton website: school leadership addressess the economy</p>
<p>Groton</a> School / February 23, 2009</p>
<p>And this one about delays in capital projects: Groton</a> School private New England boarding school in Massachusetts - Parents / PP February 2009 Editor's Choice Stemberg</p>
<p>viola wrote: "If they can't give you FA they will accept you w/o FA."</p>
<p>Some schools do this. Others are philosophically opposed to that practice.</p>
<p>ouch! Groton lost over 70 million in endowment. That's devastating. Hell, it's still tons of money!</p>
<p>More background on Harvard's troubles: Harvard:</a> the Inside Story of Its Finance Meltdown - Forbes.com.</p>
<p>Here's a link to a thread on colleges & FA vs. full pay. I would think the same can be said of BS this year.</p>
<p>There is a Phillipian article that was posted on this thread on Feb 8. The article describes that the PA trustees determined that need blind admissions would be supported "so long as the economy does not decline any further." Well, at the time the Dow was over 8,000. It is now about to break below 7,000. The economy shrank at a greater than 6% annualized rate last quarter.</p>
<p>I would like to know: Has the economy "declined further?" What does this mean for need blind at PA?????</p>
<p>The referenced Groton Letter #234 parallels NMH's recent experience in donations - much to everyone's surprise the amount and number of donations received in December 2008 exceeded the same for any past month ever. Wow! </p>
<p>Prep schools are still seeing significant giving.</p>
<p>If Obama's "soak those over $250,000 income" goes through you may well see lots of corporate giving of pre-salary dollars, directed to specific institutions by their high salaried employees. I hope.</p>