<p>I was just accepted by Washington & Lee, and couldn't believe their aid award. They gave me a $48,000 yearly grant guaranteed NEVER to decrease even if our financial situation changes for the better. Our income is around $90,000 but we're sitting on a house from 2006 that has lost 20% of its value. I am still waiting on my package from Cornell, but I doubt it will be better than W&L's.</p>
<p>Why doesn't a top college like this get more applications when it's so affordable? I feel like the best fin aid strategy is to go for the schools that are hardest to get into. W&L would actually end up being cheaper than my state flagship that give me $0 in grants...</p>
<p>Congratulations. It is a great award. A number of colleges have such awards, but maybe one or two in the whole batch and the chances of snagging one are smaller than getting into HPY. That is why a top college like that doesn’t get more applications. It is not so affordable because you do have do include the probabilities of getting into the school AND getting such an award. My son wouldn’t have had a chance of getting such an award and it would be a slim chance even getting accepted, for example, and he didn’t like the school as much as he did Gettysburg or Dickinson, both which also give merit money and where he actually had a chance of getting accepted. The same with my other college kid who would have had a decent chance of acceptance–his chance of getting that award was very small, even being in the running for it was tiny, and the school was cut from his consideration after a visit. He did not much like it. Liked Rhodes and Georgia Tech better. GOt a nice but not as complete award from Rhodes (which does have full ride scholarhships for top students) and he got into to GT but did not get any call back for the Presidential. You gotta make the cuts somewhere and to set your sights on one award in a school would be a rather narrow focus with slim pickings unless you get very lucky. </p>
<p>I know kids who were top students who got zilch at W&L. The planets all aligned just right for your son to get the windfall, in addition to the stars being in the right place as to having what it takes to even be considered. He has to be a very special candidate to W&L and a great applicant to any school. Again, congrats, and enjoy!</p>
<p>I see that you’re a URM. Your award may be some kind of endowed scholarship to bring diversity to campus. The fact that any changes in future income won’t change the award makes it sound like this wasn’t solely a need-based grant award.</p>