<p>According to the University of Pennsylvania:</p>
<p>"As part of that commitment, students from families with annual incomes of less than $100,000 who qualified for need-based aid will not have loans included as part of their financial aid package beginning in Fall 2008. In Fall 2009 this policy will extend to all families who qualify for need-based aid. As a result, students from these families will be able to graduate debt-free. Penn is steadfast in its commitment to make an extraordinary education both affordable and accessible; these tenets will continue to guide our efforts for this and many years to come."</p>
<p>If I do apply I will most definitley need finacial aid, will this make it harder for me to get in? Especially considering that my stats are not extraordinary either. I would be entering in the fall of 2010 and applying ED. Because of this, will all finacial aid be offered in scholarships, grants, and jobs?</p>
<p>honestly at this point i think that any answer would be partly speculation...</p>
<p>however harvard and stanford have already installed similar policies, which seems to be a growing trend among the top schools</p>
<p>as far as making it harder to get in, most sane kids apply for financial aid so I dont see it as being a disadvantage, just more of an advantage to those who really need it</p>
<p>From the book, 'A is For Admission', the author clearly states that asking for aid will not hurt or disadvantage you at all. She was an admissions officer for Dartmouth, so it's a damn well reputable source.
BUT, I don't remember if she was only referring to RD or what. Most likely though, it's the same as ED and it still won't hurt you.</p>
<p>what does need-based aid actually mean? just the financial aid a family needs? so if i get minimal financial aid i would still graduate without loans or debt-free?</p>
<p>Also remember that the amount that a college thinks you can pay and the amount that you/your family thinks you can pay can be two totally different numbers. A college may calculate that you can pay $10,000 a year toward your education. You may calculate that you can only pay $3,000 a year toward your education. You are responsible for making up the $7,000 a year shortfall. Remember that you do not calculate your need, the colleges do. Many people seem surprised by how much a college thinks they can afford to pay.</p>