<p>We are completely mystified by the financial aid process, and I've seen mention of "need-aware" schools in other threads. Does this mean that requesting financial aid can reduce a student's chances of admission? Does one have to request aid at the outset? We are in a delicate situation of reduced income and formerly substantial savings for college, now slashed by the financial crisis. We live modestly in an expensive city, but our overall assets in dollar terms might disqualify our children from need-based aid. (Sorry to sound clueless, this process is even more complicated when viewed from abroad). Any insights would be appreciated!</p>
<p>Yes, need-aware means that requesting finaid can reduce chances of admission. Typically, it only applies to those admittees “on the bubble”; thus, those candidates that have something the college really wants (test scores, gpa, EC’s, geographic diversity?) can still get in even with financial need.</p>
<p>In general, yes. As Blue says above, some schools are only need aware when they run out of funds, but if a college is fully need aware, it will definitely be harder to get into with aid.</p>
<p>IMO there are few schools that are truly need blind. They all manage to keep coming up with about the same percentage of full pay students year over year. </p>
<p>What you want to do is run enough calculators to see if you even have a shot at aid, most people who doubt they can get it can’t. Some colleges have their own on their web site and this site has one as does College Board. </p>
<p>That way you can see if you’d get enough to make it worth the risk.</p>
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<p>The Skidmore info session included a frank and helpful explanation of how this can work. The admissions rep said their decisions are need-blind until they use up their need-based aid budget, which he said usually happens (if I’m remembering correctly) when they are down to about the last 5% of admit slots. At that point they segue into need-aware mode; rather than watering down the FA packages of the previous admits, they simply give preference to those who can pay their way for those last slots.</p>
<p>So they’re need-blind–up to a point.</p>