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Admissions officers have touted their “need blind” process of accepting applicants for years; that is, they don’t consider whether students require financial assistance. That’s debatable everywhere but at those few schools with endowments so large they can offer aid to just about everyone. But this year, it’s laughable.
Yesterday’s New York Times article, “Paying in Full as the Ticket into Colleges” describes some of the ways in which admissions offices are letting in more wealthy students while maintaining their need-blind claim. They include admitting more students from the waiting list and more transfer students (all of whom are considered with full disclosure of their financial situation). Some schools have cut aid for international students, only accepting those who can pay in full (and accepting more of them, such as need-blind Brandeis University, where the acceptance rate for international students is up 10% this year). Or, they take into consideration other factors that may indicate a student’s ability to pay, such as zip codes or parents’ backgrounds.
With shrunken endowments, financial aid budgets can’t stretch to reach as many students as they have previously. And the need for that aid is greater than ever. So it’s no wonder the ability to pay has become an important factor. Then why don’t colleges change their tune and admit what they’re doing?
Rodney M. Oto, director of student financial services at Carleton College, has the answer. “I do think we’d all be better off if we were honest with kids that you may not get in because you need assistance, or you need too much assistance.” But, as the Times explains, “Mr. Oto’s fear — shared by many other admissions officers — is that being honest will scare off students who might, in fact, qualify for financial aid.”
It’s a tough position for the colleges and for the students seeking admission. But for the foreseeable future, for those who can afford it, it might just make sense to forego the aid in favor of the proverbial fat envelope.
Comments
Ouch! Another example of reality versus ideals in education. Thanks for the warning, for those who can afford it.
Some colleges are need blind for admissions. But "grade aware" for financial aid. I have seen students admitted with a low EFC only to be awarded only loans because of low SATs. While other students get grants when they have both good grades and SATs.
When you read on most college websites that "90% of their students receive aid," you wonder who would pay full price.
I guess the answer is those who for some reason can't get in to a college that they really want to go to will pay full price if they had the chance.
Also, with such a high number receiving aid, why don't they just lower their prices and reduce all the paperwork?
What makes "not applying for aid" even trickier is that colleges in Michigan require the FAFSA even for even merit scholarships. The FAFSA is required even to process the Michigan Merit Scholarship, which is a program that gives most college students $4000 from the state based on 11th grade MEAP test scores and the completion of a certain number of credits.
So even though we aren't expecting any need based aid, we had to fill out the "FAFSA" which basically means applying for financial aid.
What a racket. And an invasion of privacy. Why should they know my finances if I'm not asking for need based aid?
However, by learning the rules and playing the game, we've managed quite a deal for both our children based on merit and not need.
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