My experience was similar to @twoinanddone
The financial aid package lagged behind the acceptance letter for 3 out of 4 schools, admittedly a small sample.
Yes, I understand what OP’s situation is. My comment was in response to a different poster who said this:
“Typically, merit awards are included in the admissions offer, but financial aid is not calculated until admissions decides who is in.”
I also understand that “lots of schools give out acceptances before March.” Again: most admissions decisions are still ED or spring RD, and these acceptances will be accompanied by a need-based FA decision, if the applicant applied for need-based aid.
Right, Private LAC’s rely on tuition to survive (it’s not like they get state funding or pull in a ton of research grants), so most only give a handful of full-tuition or full-ride scholarships.
Go over to the class of 2017 thread and see all the admissions, with merit, still waiting for need based aid decisions. Most were either EA or just schools that process the applications as rolling admissions or in big groups (like the Florida publics do), but there are a lot of small LACs in the listings too, just like the OP in this thread. Waiting.
You.Just.Don’t.Get.It.
Yes, there are a lot of students who already have admissions decisions who are still waiting for information on need-based aid. But this is not “typical,” because the majority of applications are still ED or spring RD, where an offer of admission will be accompanied by a decision on need-based aid, if the applicant applied for need-based aid. That’s all.
There will most likely be federal work study added to the mix. Although it’s not money that is immediately available, it can cover spending money, books in future semesters, etc. My D is not working very much (usually 6 hrs/wk) but even after incidentals, her bank balance is still increasing.
Unless your EFC is zero, I would think you, together with your son, could cover the $10K room & board at Earlham with summer job ($2k-$3k), work-study (not 1st semester obviously), loan, and maybe $2k-$3k? from parents. He wouldn’t necessarily have to borrow the $5500 max.
I guess I think Earlham’s offer is quite generous. You won’t find many reports on CC of full tuition scholarships at Earlham, and you can look at the CDS or College Navigator to see average non-need awards. If your need is extreme Earlham will offer additional aid, but otherwise what you have in hand seems quite doable.
We are discussing whether those who have offers NOW have their need based aid offers with their acceptances. It’s typical for those who have acceptances NOW for whatever reason (EA, rolling, or at a school that has a fall acceptance group) not to receive the aid offer with the acceptance. Those not accepted until March will get them with/shortly after acceptance because it will be March. Those who already have acceptances may also have to wait until March (but I don’t think so; my experience was February).
The three big Florida schools all have earlier acceptance dates. Not rolling, not EA, just a fall application group (the ‘regular decision’ group because it is the biggest acceptance group, 50-65% of admitted students) and a spring application group. The majority of Florida high school students apply by the first deadline because that’s what their guidance counselors tell them to do (and because they get the best housing). The fall group does not get FA letters with acceptances, but has had to wait until late Jan or Feb.
If most of the students admitted to a university are admitted before March, is March the ‘regular decision’ period anymore?
Go back and read through the thread. Then read it again. Then maybe you will understand what prompted my comment in post #10.
You do understand that Florida is only one state out of 50, right?