S got “admit-denied” S got accepted at his dream school and he worked very hard to be accepted. However, when his FA package it left a “gap” of $30K a year. I thought this was odd until I read this article in the NYT. Other schools used a different formula and gave grants.
….The practice—“gapping” or more bluntly “admit-deny” comes as a surprise to students who think that need blind has something to do with providing financial aid. If a college calculates a students need (price minus ability to pay equals need) is $30,000 it might only offer $15,000, leaving families with difficult choices – to make up the rest with private bank loans, go to a less expensive school, or even postpone education.
It makes need blind into a hollow promise… https://www.nytimes.com/2014/04/13/education/edlife/what-you-dont-know-about-financial-aid-but-should.html
Need-blind colleges that do not promise to meet need are not making hollow promises. They do not promise to meet need in the first place. They only promise to admit without regard to whether or not the student can afford to attend.
I don’t think it would help to make the NPC uniform because the schools don’t use the same information to grant aid. Many schools don’t care what the value of your primary home is while others do. Some schools don’t need your grades and stats because they don’t award merit aid, but others do.
My kids go to two very different types of schools, and both NPC were spot on, giving the merit air but no need based aid.
Hopefully, he has an idea for a better letter than the current federal Shopping Sheet - have you seen it? And NPC’s … it’s a good idea in theory, but very difficult to perfect in practice (for so many reasons related to budget, award policies, institutional policies that add back deductions for self employment, etc., etc.). It’s an art, not a science - that is the nature of the beast.
It is confusing - schools are not allowed to alter it, so I have to include all categories - some of which do not apply to graduate students. I use that because I signed an agreement to do it for VA students, so I use it for all. The students are confused by it. I use that and my own letter, so I consider it solved for my population.
That makes sense @kelsmom - I do like it for undergrad. Me, I made a spreadsheet from our differently formatted offers with common columns so I could compare
Need blind is an admissions term. It has NOTHING to do with financial aid awards. It means that your kid’s financial need is not considered when his application for admission is reviewed. Schools that are need blind do not know or consider financial need when making admission decision.
MOST colleges are need b,ind for admissions.
BUT the vast majority do not meet full need for all accepted students. That what your kid experienced. A school where full need was not guaranteed for all accepted students…and a gap was there between the cost of attendance and the financial aid awarded.
Another thing…the colleges compute your financial need…based on the data you provide via the fafsa and Profile forms. Very often, this need is far less than what families can realistically pay.
When net cost is a big factor, it helps to be uber rational about choices. I hold to: no college is a dream school unless they offer the right aid.
It’s hard to rely on the NPC when a business is involved. But that’s a huge caution flag. As a few said, the colleges run your numbers and determine “need.” Then, the “meet full need” will fill that gap. But it’s their assessment, not yours. And so many colleges can’t afford to be generous, are not MFN.
Its an interesting article and still applies today. We used both FAFSA and CSS and many other forms. So by “need” I mean what the FAFSA determined (0084). As we have no income and few assets (retirement funds and other not considered, home )
The numbers were run by other school using the exact same formula and the same documents from IDOC. They came out with a completely different result.
We own an less than one percent share in a company that has less than 30 employees and has never shown a profit in 10 years. It almost qualifies as a hobby. But that is not how “the computer program” ranks it according to the FA person.
I just think the college should not advertise itself as “meeting full need” when it obviously “gaps”
It is very disappointing but I am sure I am not the only one. Sadly it targets lower income people who are suffering business losses. It’s so clear to me that the next step is full pay students from the wait list since of course my S will not be attending.
I about lost “my religion” when they told me that our business financial loss was actually a gain!
The FAFSA number isn’t what confirms need. Many will tell you that’s about qualifying for fed grants. Different. Over years on CC, many of us found the school determination roughly a third higher. (Granted, your start number is quite low.) For many families, it’s not Fafsa, but the NPC.
From the college’s perspective, they are meeting your need. The discrepancy isn’t because they seek to “fool” you, but how they combine back in figures, tax deductions, how they look at certain equities, discretionary expenses, and more. It’s worst for families with business interests. It’s an acknowledged problem from College Board, but one they haven’t decided to change yet.
I know this doesn’t help you, you’re in a bind. But the initial awareness of our constraints should make us leery of assuming anything, until the school offer comes in. Many of us take a wait and see, don’t breathe easy til we see the package.
And IDOC may review the same documents, but the formulas each college uses will differ.
We use “gapping” to mean colleges that acknowledge, say, a 30k “need,” but offer 10k. And/or then putting in parent loan amounts, to look better than it is. That’s different than a college that says, we calculate you need 10k, here’s how we’ll cover that.
Again, what matters is grant money, realistic work study, how they estimate the student contribution from his summer earnings, maybe a student loan. Parent loans are not FA.
Sorry you face this. But the advice from the best FA savvy on CC is usually to follow true affordability.
@lookingforward That ^^ is exactly what they did. With no income to give say $10K in Pell + other gov programs, and then invite you to take out a PLUS and other loans for the remaining $25K/ year, is “gapping” to me. NO grants or work study from the college. And for the college to define meeting your need 100% as “take out what would amount to $100K” (over 4 years) is making sure you don’t attend. Just don’t call it “meeting 100% need”. Or call it whatever you want but it does not make sense, except in a (you fill in the blanks-- fraudulent, unethical, we make it up as we go along, etc) way.
Overall it does not attract me to that school, but that’s just me. YMMV
But you are right to advise to only do what is affordable.
I have some hurt feelings because I do feel what they did was unethical.
