Our daughter is interested in some private colleges (not top-tier) and/or OOS flagship public U’s where the tuition is mostly in the $35-40K range. On their scholarships page they list their prime academic scholarships which seem to be about 1/2 tuition on average, and all have Honors Programs.
She has a 4.0 UW GPA and a 33 ACT composite (34 superscore) with a 10 ACT writing, one big EC, lighter on the service and leadership. Even being as new to the process as we are, we totally get that the tier she can get admitted to and the tier where she can garner substantial merit aid are not the same, and we’re fine with that.
Here’s the question: Can/do colleges offer a student merit aid in excess of the largest scholarship listed on their Web site, up to full tuition and maybe something toward R&B? Or does any additional money have to come in the form of need-based aid? We’ve heard comments that she “could get a full ride” at School X or Y with her stats, but it’s unclear whether that’s primarily merit.
I know there are many CC threads on the general topic of merit aid, and I’ll work my way through those, but this inquiry is somewhat more specific and all perspectives are welcome. Thanks in advance!
^The schools she’s looking at have average incoming GPA’s of 3.6-3.7 UW and middle-50% ACT ranges from 23-28 to 26-30, presumably higher in their Honors Programs.
It really depends on the school. Many schools have a merit scholarship that may be awarded from the admissions office, then allow stacking with other scholarships from outside or inside the school - department scholarships, minority scholarships, talent awards, honors college. Other colleges allow one award, no stacking. One of my DDs goes to a private school that awards one merit scholarship, but there are several ways to earn it - grades, eagle scout/gold g.s. award, robotics, etc. You can only earn one merit award which run from 1/3 to about 2/3 of tuition. Then they have a bunch of little awards that can be stacked on the merit award - visit to campus before applying ($1000), sibling in school ($2500 ea), child of alum ($2500), alum referred to school ($1000)- and all those can be stacked. Any outside can be stacked.
Other DD attends a OOS public, and it is somewhat similar. There is a merit award based on grades/scores. Then you can stack outside scholarships, department awards, talent awards, minority awards, alum awards.
Depends on the school, mostly I have come across merit anywhere from $10k to $20k, up to full tuition.
Full rides are offered for very high stats at some schools or for NMF.
Check the links pinned at the top of this forum for lists of schools.
I also used the net price calculators on school websites, sometimes especially private schools asked for gpa and test scores and gave a merit estimate.
Sometimes schools will stack merit with other athletic, artistic or departmental scholarships.
Well, yes they can, and sometimes do, but it’s unpredicatable, and you can’t count on it happening.
D14 was offered a large “unlisted” scholarship at one state school that would have made our cost less than the cost of room and board when stacked with the other scholarships she had been offered. It was a department scholarship. It was a new thing and they had just recieved funding for it, or at least that’s what she was told. This was not a big name school, and the offer came in April, later than the other scholarships awarded by the same school.
Some will NOT stack merit, some will. Some will add in a dept award, some won’t. My kids undergrad would give full tuition merit for your D’s stats. Also, depending on her major, she could get more.
Your D has the stats to get at least free tuition awards from some mid-tiers and 3rd tier schools.
Remember that merit gets applied FIRST, so if you have any “need”, the merit will got towards THAT first. It won’t reduce the amount that you have to pay UNLESS the merit is SO HUGE that it covers all of need and then cuts into EFC.
However, many colleges will apply merit to reduce or eliminate student loans, work study, and/or unmet need before reducing need-based financial aid grants.
Consider what size school she is wanting and what she wants to study; also is she looking to stay within a certain range from home (so can come home a few times during the school term) or is she fine with being at school except for major school breaks - is she happy with urban, college town?
I would see the ‘type’ of schools that ‘fit’, and then see the merit situation. You can always look at the good merit situations and then see if compromises can be made for the best economic and cost/benefit.
However, many colleges will apply merit to reduce or eliminate student loans, work study, and/or unmet need before reducing need-based financial aid grants.
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Yes, some of the top “meets need” schools will do this, and maybe some others. However, I have often seen schools with more limited funds retracts grants once (outside) merit is applied. Some schools even say on their websites that grants/merit can only cover up to a certain amount, because they’re depending on using loans and WS to cover the rest.
Since “inside merit” is usually applied first, there often isn’t even an opportunity to “reduce or eliminate” student loans and WS first.
That said, I think the OP is in the situation where their EFC is higher than what they’re comfortably paying. If so, then they’re best to find merit that is so big that once applied to “direct costs,” it brings down the remaining costs to an amount that they’re comfortable with.
For instance, if someone wants a “net cost” of $20k or below, then they should look for schools that will give at least “free tuition,” so that their $20k can cover the rest (room, board, fees, books, travel, personal expenses, etc.)