<p>Zagat, I've got a $9000 difference in two 100% need-based awards from colleges this year, and I had the same range 5 years ago when my son applied to college. Every private college uses its own unique formula to calculate the "need" they plan to meet -- they treat different types of income differently, weigh home equity differently, allow different allowances for expenses, etc. And they do NOT explain or provide a formula, although sometimes if you ask very specific questions they might provide an answer. </p>
<p>The concept of meeting 100% need is a total fiction: 'need' is whatever the college says it is. The only thing to do is to submit an application and see what they do with it.</p>