<p>Well, I don't know. My d. applied only to schools that said they met "100% of need". We submitted exactly the same paperwork to each school. Almost all of them were COFHE schools, meaning that, at least in theory, they used the same methodology. Ours was not a difficult calculation - no businesses, no farm income, no significant investment income, no illnesses, no expensive house. The difference between the lowest and highest was $47k over four years (more than a full year's worth), with loan amounts form $0 to $18k. </p>
<p>Frankly, I don't care what formula they used to get there. We looked at it as all "merit" aid. If they wanted our d., they were going to have to ante up. If they didn't, she'd go to a state u. It will be the same with d2. We'll be grateful either way.</p>
<p>"The idea of financial aid, to give the money to the most needy students is objective."</p>
<p>Wow! Where did that one come from? I know of no school in the country that claims that! (Berea comes closest, but even they don't distinguish between their "needy" and "most needy".)</p>