<p>If a school (like Harvard) promises to meet 100% of need without loans, then the stats won’t matter. However, high stats are needed to get accepted, right? </p>
<p>Simply the promise of meeting 100% need without loans means that they can’t “short” a student whose stats are a bit lower than another child’s. I guess the only way a school <em>could</em> do that would be for such a school to dishonestly claim that the student has less need and then only meet that “less need.” I don’t think that schools like Harvard do THAT. It would be hard to claim that a student with lower Harvard stats and an income of - say - $50k doesn’t have full need according to Harvard’s formula. </p>
<p>However, at a school that says it meets need (but includes loans), or a school that doesn’t meet need, then having high stats is a very good thing. Modest or lower stats kids will likely get the worst FA packages unless they offer something else to the school - URM status, from an unusual state, etc. </p>
<p>Most schools fall under the categories of not meeting need or meeting need with big loans. So, for most schools, you are right. But, for schools that promise to meet 100% of need without loans, then your D is more right.</p>