<p>My household has a six-figure income and I really doubt that I would qualify for any need-based FA.</p>
<p>However, to take some of the pressure off of my parents (I have 2 siblings), I'm looking at schools that would offer enough merit aid to get the price to the same level of my in-state university.</p>
<p>I know that the bulk of FA comes from the school itself. However, is this based on the decisions they make during admissions or a certain minimum SAT/ACT score? I'm expecting that each school has their own process for merit aid, but I'm trying to understand how merit aid works for the most part.</p>
<p>Merit aid is usually given to those who have very high stats for the school (that gives merit aid…many schools don’t give any or much).</p>
<p>there is a very large pool of students with high GPAs.</p>
<p>there is a smaller pool of students who have high test scores.</p>
<p>there is even a smaller pool of students who have both high test scores and high GPAs. These are usually the kids who are awarded merit.</p>
<p>So, if School X is known to be generous with merit and gives out many awards, then those awards are probably going to students whose test scores are well-within the top quartile for that school.</p>
<p>What are your stats? What is your major? How much have your parents SAID that they’ll pay each year? If they haven’t given a figure, ask them.</p>
<p>I have 2150 on SAT730/740/680. 32 for ACT. 104 weighted GPA. Parents would pay 15K per year. Im planning to go premed by majoring in biochemistry and minoring in english and chinese. Or IT or History with those same minors. And thank you!</p>
<p>Look at the common data set info for schools. That will give you the % of freshmen getting merit aid. If the school is giving 10% of its students merit awards,it makes sense that your stats, (test scores for the most part) have to be in the upper 10% for you to even be considered. Then look at the average amount of merit grant, and look on the school’s website for the big ticket scholarships. If there aren’t a decent number of those awards, the chances of getting sizeable merit money is very small. </p>
<p>In our state, it’s hard to beat the state schools. My one son got about $30-35K in merit money a few years ago. Very nice, but the cost of the school, the official COA is over $60K for that private college. For state U, the cost was still under $20K at that time and he qualified for a small merit award there, that drove the price down even further. But the merit award did put that private school in the running as it did bring down the price to what we could manage. </p>
<p>With my one son who did get the most merit money, the state school was still the least expensive as all of his awards were for under $5K. Not to helpful when the COA is over $60K Getting full tuiiton or more is very difficult.</p>
<p>Your parents will pay $15k per year. That’s about the amount of room, board, books, fees and travel at many schools. </p>
<p>So, that means that you’d need a full tuition scholarship to cover tuition so that your parents’ money can go for all the rest. :)</p>
<p>You have a 1470 M+CR…that will get you free tuition at a few schools. </p>
<p>Alabama is the highest ranking school that FOR SURE will give you free tuition for those stats if you apply before Dec 1. The app is live and online now…and is super EZ…no LORs, no teacher recs. </p>
<p>Bama has a beautiful new Science and Eng’g Research Complex. The campus is gorgeous and the people are friendly. </p>
<p>My son graduated from Bama in May and tomorrow he completes his second week of med school. Bama does write Committee Letters which help with med school admission.</p>
<p>This would be a good financial safety for you.</p>
<p>Here’s a video and pics about the school…
<a href=“- YouTube”>- YouTube;
<p>Thanks for all of the great info! How did you approach the schools about the amount of merit aid they would give? We are also considering Alabama!
Thanks!</p>
<p>For Alabama, all you have to do is submit both the school and scholarship apps by Dec 1. The apps are online now, you could do it now…takes like 5 mins…no essays, no lors</p>
<p>hammerhead,
Shopping for schools is not like shopping for cars. There isn’t much negotiation. Some schools have automatic merit scholarships that do not require a separate application form. Anyone accepted by the school gets those. Other schools award merit scholarships when they consider the entire financial aid package. Schools require the federal loan/grant application (FAFSA) or a different application for financial aid.</p>
<p>School websites can give you the information about merit and need based financial awards.</p>