My son’s dream school is a reach. His grandparents (along with both parents and 6 aunts and uncles are alum). If he was applying way back when we went, he would mostly definitely be a strong candidate, but times have changed and the acceptance rate is much lower now. With that said, his grandparents have offered to pay full tuition at this school the first year of attendance if he were accepted.
Can you apply to a school and not request any financial aid? Would it help the prospects of admission? What happens if student is accepted and needs financial aid subsequent years?
We will need to apply for FA for all other schools.
Thank you
Some colleges don’t allow students to apply for financial aid if they didn’t apply as a freshman. If they do allow you to apply for aid as a sophomore, what are your plans if it isn’t enough? Transfers don’t usually get much aid. I think you’re better off choosing a school that you know will be affordable for all 4 years.
Apply for aid regardless… also ask GPs to put the year’s money into a 529 in their name…and withdraw a portion each year.
If grandparents pay for 100% of your son’s school costs (or tuition) in his first year, that will very likely have a large negative effect on need-based financial aid that might otherwise be available in his junior year.
There are a very SMALL NU,bet of colleges that do put restrictions on applying for institutional aid insubsequent years IF you don’t apply as an incoming freshman. So check.
In addition, check to see if the college is need blind for admissions. If so…applying for aid won’t have any impact at all on admissions.
Plus if you NEED financial aid…apply for it. It does NO good for,your kiddo to gain acceptance if you can’t afford to pay the cost to attend.
You can always apply for federal aid (through FAFSA) at any time. If you don’t file it until after acceptance, some types of FA may not be available. Loans and Pell grants (if qualified) will always be available.
BUT, most colleges are need blind for admissions anyway. It is unlikely to make any difference as far as acceptance goes. It’s also likely the school will expect you to be full pay anyway - schools are funny that way.
Thank you for your input. This is my first of 5 to put through college, so I anticipate that when my second applies to college (just two years behind) that we will need to apply for FA at that point. Sounds like it makes sense to just apply as we start the whole process. I believe this school says they are need blind but I will check on that. I like the idea of dividing the first year tuition/room and board among the four years, that could really help. GPs figured they would just write a check for the full tuition all at once so they have not considered a 529. But maybe that makes sense if we can use it over the 4 years. Of course, this is still a long shot, but if my son gets in, I would like to be prepared and try to make it happen for him. My son is also applying to Naval Academy and my husband is a professor at a great state school where tuition would be free, so we definitely have other potential options that will be a good financial fit.
I would apply for FA for all 4 years and I would ask the grandparents to put the money into a 529 in their name. Then you could split it over the 4 years. This way you could judge right away how affordable the school is… or isn’t. Keep in mind that with 2 or more kids in college you will likely get more aid at schools that meet full need ( of course this depends on your EFC, finances etc… I am making a general statement). You could get estimates on the NPC and plug in 1 versus 2+ children in school.
Schools that are need blind will not know if you applied for FA ( that’s what we were told).
Admissions at need blind schools do not know your financial need when they consider your application for admission.
They may know you applied, but would not know your financial need.
We did a “chat” at UVA and they showed us what the Commonapp looks like on their end… the FA question(s) are completely blacked out… admissions does not see it. I am not sure if all need blind schools operate this way…(?)