<p>Why do students who don't need FA get merit aid?
I mean, obviously it's great that they've done well in school.
But why are they given aid when it can be given to someone who NEEDS the FA and can't pay for college without it?</p>
<p>Because some people can’t afford their EFCs and need the merit aid. Some parents are unable or unwilling to contribute to their child’s education. So the student benefits from receiving merit aid.</p>
<p>The school in question benefits by bringing in a student with high stats that can raise a school’s student profile and raise their UNSWR rankings which in turn will bring in more applications and increase selectivity.</p>
<p>Most merit scholarships have a GPA requirement to renew the scholarships so presumably, the student will do well in school and then go on to professional/graduate school or find employment in a prestigious company, thus giving the school something to brag about to future applicants.</p>
<p>Most of the aid that is given at college is based on financial need. However, the majority of colleges do not meet 100% demonstrated need.</p>
<p>For students who do not need FA, merit aid is away of attracting students who would otherwise be full freight payers by giving them a discount based on the work that they did in high school. Remember you need full paying students in order to have financial aid available for students who have financial need.</p>
<p>Since you stated that you are not eligible for need based aid, instead of bashing students who are eligible to for and looking for merit aid, you should be looking at schools where you may be eligible for merit aid (there is nothing wrong with paying less because $200k for college is a lot of money no matter how you slice it) or simply pay your full freight and keep it moving.</p>
<p>Some schools do have need-aware merit aid policies.</p>
<p>There’s a big gulf between “not being eligible for financial aid” and “being able to afford $53K/year.” I think there are quite a few families who need financial aid and are considered ineligible for it. Merit aid is their only chance to attend some schools.</p>
<p>And, as noted above, it benefits the school. It also benefits the other students–having top-notch classmates raises the quality of the classroom experience, the school’s reputation, etc.</p>
<p>For whoever said I’m bashing students who wanted merit aid…I’m definitely not. I’m actually not looking into any type of FA whatsoever because luckily I’m a full-pay student who doesn’t have to think twice about a $50k/year education. Because of this, I have little knowledge about FA and the like…which is why I made this thread–I’m curious about merit aid. Thanks for the replies, btw!</p>
<p>The same question could be asked about other types of scholarships as well - athletic, or arts-based. The school is providing incentive to those who may not need the aid, but might go elsewhere without it. If a school wants to attract a certain type of student, the scholarship helps them do that.</p>
<p>(I didn’t read any “bashing” in your question.)</p>
<p>Merit aid is a way for a school to ensure that it will have a certain amount of students with high stats. For some schools, only offering FA could result in not having enough high stats kids. Some may say, so what? But, a lot is riding on the fact that a school has kids with high stats…it’s easier to win grant money, it helps with a school’s ranking and ability to place grads in better jobs, it helps attract top profs. (Top profs are less likely going to want to only teach kids with lowish stats.) It becomes a domino effect…you get smart kids, you get better profs, you get more grant money, these students get placed in great jobs, the grads become generous donors. In the long run, it doesn’t cost the University much because the school gains so much.</p>
<p>BTW…often merit money has come from donors who have designated how the money will be spent.</p>
<p>“Why do students who don’t need FA get merit aid?”</p>
<p>Colleges give it as an open bribe. Many students need it to be able to afford college.</p>