Schools that promise to meet 100% of fin need

Paying for College
24

<p>“Schools that think they meet 100% of need” might be a better description of these lists. In some sense all of the schools meet 100% of need, but I have never seen 100% have more variation than it does when talking about schools that meet 100% of need.</p>

<p>The formulas are simple:

  1. COA - EFC = Need
  2. Aid = 100% of need</p>

<p>The catch is that except for FAFSA-only schools, the school itself gets to determine what COA is and what EFC is. In addition they get to decide what constitutes aid: grant, work-study, student loans, parent loans, supplemental loans, optional loans.</p>

<p>The end result is that you don’t really understand what 100% means for your particular sitaution until you are accepted and get a fin aid package. You can have a rough idea, but you really can’t tell until you see the school’s acual numbers.</p>

<p>D wanted to apply ED to a no-loan, 100%-of-need-met school. I wouldn’t let her. It turned out to be the worst of the 6 FA packages she received.</p>