<p>My S received a substantial need-based scholarship for freshman year. When he asked whether it would continue (as do the college's merit scholarships) he was told that his need would be reevaluated (along with other criteria for the scholarship) when he applied for financial aid the next year. Since the college is cutting costs, including some academic-related costs, but is not cutting financial aid I'm wondering if this fantastic "scholarship" is a teaser. Thoughts?</p>
<p>Because your EFC may change from year to year, it’s hard to predict what your son’s financial package will be next year or even three years from now. Most schools are cutting their costs, so it isn’t just yours. I would take it one year at a time. Congrats on the package though. :)</p>
<p>Thanks. It’s easier to evaluate the two packages with substantial 4-year merit scholarships, especially since the COA would be within a few thousand dollars for the three colleges.</p>
<p>Something to think about in the need vs merit comparison is that merit scholarships are for a fixed amount per year and can be taken away if the gpa requirement is not met. They also do not rise with the COA, which can rise considerably over 4 years. If you look carefully at your need based aid package it should have a description of each grant that was given (or you can often find it in the handbook). Some university grants are for freshmen only, those are the “teasers”. </p>
<p>Other than asking on the college-specific forums, one thing you might look at is the average freshman need based gift aid vs. upperclassmen. You should be able to find that for each school listed here:
[Student</a> Aid on the Web](<a href=“http://www.studentaid2.ed.gov/gotocollege/campustour/]Student”>http://www.studentaid2.ed.gov/gotocollege/campustour/)</p>
<p>Thanks for a different perspective on comparing need-based and merit aid. Fortunately, the scholarship is not for freshmen only. The website was quite helpful. I’m always amazed at the expertise of collegeconfidential members.</p>