<p>Interesting. This C is the youngest of 3, with the oldest now in grad school and the second starting college this fall, so one would think the parents would know about these matters. Perhaps BIL has structured his money to make it look as if he hasn’t any :).
So true, although if she were to get admitted it seems likely that dad would fork over full pay.</p>
<p>Consolation, your son’s scholarship, paid by a donor to a student in a certain major, is probably not a merit scholarship, and is probably still financial aid.</p>
<p>The Ivy one of my kids attends has the students on financial aid fill out a form each year with their interests and accomplishments. These are then given to donors interested in giving donations for financial aid to students in certain areas. A student would still receive the same amount from the university/college, regardless of area of interest or accomplishment. It is just a way for the institution to give information out that inspires donations for aid (or perhaps gives feedback about what the donation has done for that student).</p>
<p>My kids have been asked to write a letter of thanks each year to their donor as well. One of my kids complied happily, but the other one felt she was being forced to beg for her food, that it might be more appropriate for the institution to do the thanks. This did not affect her aid.</p>
<p>“Outside scholarships” just reduce financial aid, as others have said. I feel badly every year at graduation because I know some people and organizations have worked hard locally to raise those funds, and need plays a role in who gets them. But those with need are probably going to see those local scholarships subtracted from the aid they got, so all that work done locally to raise the funds may be for nothing other than to save the college itself money.</p>
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<p>Well, yes, I thought that was exactly what I indicated. </p>
<p>The terms of the bequest or donation require that they select a recipient with his specific major. I had the impression from the award letter that they attempt to select a recipient who is well thought of by the department (the “merit” component of which I spoke), but they are clearly going to give it to someone who has need. It became part of his FA package for as long as he was in good standing and sent the required thank you letter to the donor. It certainly was not “merit money” in the sense that people usually speak of such things.</p>
<p>Of course, “merit” money is somewhat of a misnomer in any case. Merit money is, in most cases, a way for schools to attract a student with some quality they want–high stats, geographical or other diversity, whatever–by offering them a discount. It can also be a way to get essentially full pay students instead of students who have significant need, and improve yield figures at the same time. There is plenty of information out there about the way that schools use merit money and gapping to manage yield and costs.</p>
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<p>Just because a school has a no loan policy, does not necessarily mean that the student will graduates debt free. Some students borrow to help pay their EFC. Some borrow because they fell short of their student contribution and many need money to take care of misc. items on campus.</p>