I am considering Loomis/Choate/ Andover. Wondering how my chances are affected if I apply for financial aid vs a full-pay student?
Experts, please help. Thank you
Are you saying that you could be full pay but are applying for FA to see if you will get it and are weighing that decision? Or that you definitely need FA and want to know the impact?
Part of the reason it matters is that schools strive for some level of diversity in their student body. If you are in one of those pools and it typically is one whose students need FA, it’s unlikely to make a difference.
But if that’s not the case, the answer will be different.
A few things to bear in mind.
- At most schools, the acceptance rate for FP students is higher than for FA students. In other words, all things being equal, you are more likely to be admitted as a FP student than as one who needs FA. The difference in acceptance rates is not something schools normally share, except maybe when they are trying to raise $ for FA.
- Need blind does not mean your full need will be met.
- Most schools offer need-based aid and do not consider merit. In theory, since they all base their calculations on the SSS Expected Family Contribution, you would expect their FA offers to be similar. We found that NOT to be the case.