<p>I go to a school where most of the kids are very wealthy so my school doesn't really provide us with any information about scholarships. Though I do not qualify for need based aid I do not want to eat away at my parents' limited retirement fund so I really want to try for merit based aid. I would really appreciate if anyone would give me a brief explanation of the merit aid available and point me in a direction to do some research.</p>
<p>I often see people on CC talking about the financial aid received e.g. x% of tuition is provided by a certain school etc. Is this usually need based aid or merit based aid? </p>
<p>If it is merit based aid, how does that work? Are there special scholarship programs one must apply to for each individual school e.g. the Danforth Scholars program of Washington U of St Louis? Or does a school automatically reward merit based aid depending on how much they want a certain student?</p>
<p>Thank you very much!</p>
<p>What grade are you in? (Graduating senior? Junior?)</p>
<p>If you are graduating, you have already missed the boat for many scholarships.</p>
<p>Hi,</p>
<p>Merit Scholarships work in a few different ways…</p>
<p>1) Assured Merit scholarships - these are automatically awarded for certain stats. It’s a good idea to apply to a few schools that give assured good-sized merit scholarships. These can be your financial safety schools. These schools tend to be “mid-tier” or lower ranked schools. </p>
<p>2) Competitive Merit Scholarships - These schools have a very limited number of scholarships. Sometimes a separate app is required, sometimes an interview is required, sometimes every student is considered. I’m not a big fan of these. It’s ok to apply to a couple schools with competitive scholarships, but NEVER depend on winning one. Sometimes these scholarships are awarded specifically for targeted students. </p>
<p>3) FAFSA required merit scholarships - These scholarships (which aren’t automatic) require the student to also submit a FAFSA. Some will argue that is to prevent the scholarships from going to the rich, some say that’s not true. We have never bothered with any scholarships that require a FAFSA. </p>
<p>Most scholarships require the student to maintain a certain GPA while in school. If the expected GPA is too high, that can be a problem. To help ensure that you maintain the desired GPA, it’s a good idea to “balance” your course load each semester with a few easier courses with your harder courses. </p>
<p>What are your stats? Do you need to get some scholarship money in order to afford college? If so, a strategy is needed.</p>
<p>@skyhook
I’m a junior</p>
<p>@mom2collegekids
Thank you very much for that. I go to an IB school and our teachers refuse to calculate the GPA for. So I am not too sure about that.</p>
<p>I currently have 38/42 which is 90% though I am hoping to bump it up after our exams.</p>
<p>Have you taken an ACT or SAT yet? If not, do so soon. Pay the extra for the detailed score report. That will be useful later to help work on weak areas so that you can take the test again?</p>
<p>How did you do on the PSAT?</p>
<p>Do you know how much your parents are willing to spend on your education each year? If you don’t know, ask. That is very important info for a junior to know NOW. :)</p>
<p>OP, are you international?</p>
<p>@Erin’s Dad
Yes I am international student, but I am a US citizen.</p>
<p>@mom2collegekids
PSAT: 206
SAT: 2000
(I know its not so good but I did not have much prep so I will do it again and definitely bring the score up)
Regarding the money situation: approx 20k a year in tuition but are willing to provide up to 5-10k more if I get into an extremely reputable school. Though most highly ranked schools cost up to 40k =/.</p>
<p>If you’re a US citizen, then you are not an int’l - even if you live abroad. You have all the rights of an American citizen. Do you live abroad?</p>
<p>Actually, most highly ranked schools cost more than $40k…some are nearly $60k. By the time you’re a freshman, many will be close to $60k per year.</p>
<p>It sounds like you wouldn’t qualify for much aid. Do you know what your family’s likely EFC is? If not, you should find out.<br>
FA Calculator
[FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“Your Guide for College Financial Aid - Finaid”>Expected Family Contribution (EFC) Calculator - Finaid) Do both the federal method and institutional. Most top privates use the both methods.</p>
<p>You may run into the problem that the school costs $55k+, but you only get $20k in aid. Your family would be expected to come up with $35k per year.</p>
<p>I live abroad - so okay I’m not an international student then.</p>
<p>Are you saying that the max merit aid I’ll get is 20k? </p>
<p>So, basically (am I getting this right?) lower tier schools have assured merit and some schools have FAFSA/competitive merit so I should just do a lot of research before I apply.</p>
<p>Thanks so much btw.</p>
<p>*Are you saying that the max merit aid I’ll get is 20k? *</p>
<p>No. Merit Aid and Financial Aid are two different things. </p>
<p>Merit aid is based on your stats, which I described in my first post.</p>
<p>Financial Aid is based on determined “need.” So, if a $60k school determines that your parents can afford to pay $40k, then your “need” is $20k. That doesn’t mean that you’ll get $20k in free money. That $20k can be in loans, work study, and may be some grants.</p>
<p>* So, basically (am I getting this right?) lower tier schools have assured merit and some schools have FAFSA/competitive merit so I should just do a lot of research before I apply.*</p>
<p>Some (not all) mid-tier and lower-tier schools have assured merit. Yes, you need to do some research. What are your stats? GPA? ACT and SAT (including SAT breakdown)?</p>
<p>AUTO $$$ CC Important links to Auto Scholarships…
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html</a></p>