"Need-based aid" in admissions. How will it hurt me?

Paying for College
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<p>Ok, I understand everything about need-blind v. need-aware schools and grants v. loans, but there is something potentially very detrimental to my candidacy at certain schools that I am very confused about right now.</p>

<p>I was told by my counselor and parents to apply for all the aid/ scholarships I could because if I didnt get any, it didnt hurt. Well, my family can pay for most if not all of my college tuition, and yet, I've clicked the "need-based" financial aid box for all my schools on the common app, because it was just another form of potential aid. For some of my schools this wont make one bit of difference (they are need-blind), but my question is this. At a need-aware school, do they review how much the applicant can pay before determining how much it will affect their admission? In other words, if two candidates with equal grades, stats, and comparable essays both check the need-based aid box but one cannot pay any and the other can pay most, then do the admissions officers know that?</p>

<p>If I made a big mistake checking that box, should I contact my schools and tell them it was a mistake?</p>

<p>Great, thanks guys.</p>

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<p>need-based just means the amount of financial aid is based on need, and none based on merit. it can still be need-blind</p>

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<p>Sometimes they do. BUT what difference would that make to the OP…The OP states that his family CAN pay the bill. Most students worry that NOT being able to pay the bill will mean a rejection at schools that are not need blind. I would think if you CAN pay the bill, the college should be doing a happy dance.</p>

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<p>Absolutely! But this type of candidate comparison typically only occurs for kids on the bubble – the full bubble candidate may beat out the finaid bubble candidate for need-aware schools, particularly if that college has maxed out its finaid budget for that year.</p>

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<p>Thats good to hear. I think you cleared that up for me bluebayou. Much appreciated :).</p>