How to properly leverage a scholarship?

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cire
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How to properly leverage a scholarship?

Postby cire » Thu Jan 13, 2011 5:42 pm

How to properly leverage a scholarship?

I was accepted to UT:Austin, Fordham, Cardozo, and finally University of Michigan.
So far my scholarship information is as follows:

Fordham: 10,000 per year
UT: Waived out of sate + 8,000 per year
Cardozo: Full tuition
Michigan: Nothing so far (Actually does anyone know when they hand out merit based scholar ships? So far I'm just going to assume i didn't get one)

Anyway I really want to go to Michigan, but Texas with is no. 15 is offering me an amount that comes to around 73,000 for all 3 years, and on the Michigan website they state "All applicants are considered automatically for merit-based aid, with no separate application required. Typically, merit decisions are made within two weeks of admission beginning in January, and awards range from $5,000 up to full tuition. In cases where no merit aid has been offered, the Financial Aid Office is occasionally able to take financial aid offers from competing schools into account."

Now I'm simply asking for advice on how to best tell them about Texas? What language should I use, when should i send it, stuff like that.

Should I simply call them up (or visit in person), and tell them that i am looking at Texas, which has made a very generous offer, and while i would like to attend Michigan(assuming I still prefer it to Texas), I can’t justify the extra expense, especially considering the current economy?

Any advice on the subject? I'm primarily concerned about how to tell them. I don't want to come off as entitled or desperate...

Thanks!

P.S. Would it be wise to tell UT about the Cardozo full tuition scholarship, hoping for even higher scholarship, and then tell Michigan. Or is that too much.

kehoema2
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Re: How to properly leverage a scholarship?

Postby kehoema2 » Thu Jan 13, 2011 5:50 pm

Sorry I can't answer all your questions but I'll try with the ones I can.

Texas will not care about Cardozo's scholarship. They are ranked way too far apart.

I'm pretty sure I read that to request additional scholarship (or any at all) at Michigan they want you to email. Also I would say your strategy for leveraging them is fine, but keep in mind it will probably be quite difficult due to the difference in ranking between the two. It would probably be worth saying that Michigan is your number one choice, but the expenses are too large. Also, obviously tell them about Texas' scholarship and the costs so they have an idea of the difference.

Hope this was at least somewhat helpful

cire
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Re: How to properly leverage a scholarship?

Postby cire » Thu Jan 13, 2011 7:12 pm

It was, at the very least it let me know that I'm intended strategy isn't too far off the mark. Texas is 15 and Michigan is 9, and while that is a considerable gulf i think it isn't too bad not to elicit a response from Michigan. Regardless I am still groping for the correct wording and timing. I don't want to send too early, since I have no idea when the merit based scholarship info is sent out, so far I'm simply assuming it has been. and i don't want to send out too late, because...well that would be stupid.

One more question, should I scan the UT letter of scholarship and attach it the email to Michigan or is that crass?

Thanks for your help!

duckmoney
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Re: How to properly leverage a scholarship?

Postby duckmoney » Thu Jan 13, 2011 7:15 pm

Interested in this as well, substitute UVA for UM

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beachbum
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Re: How to properly leverage a scholarship?

Postby beachbum » Thu Jan 13, 2011 7:17 pm


cire
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Re: How to properly leverage a scholarship?

Postby cire » Fri Jan 14, 2011 1:33 pm

Fantastic post..it really helped a lot. But I have one remaining question then. Would it be wise to simply send in what school I'm thinking of first with their scholarship offer on the first email like so: (critiquing my wording or grammar would also be appreciated)

Dear Michigan University (or name of specific person),

I was thrilled to learn of my acceptance to Michigan University as Michigan Law remains my absolute top choice among potential law schools. I’m looking forward to attending your preview weekend in March and touring your beautiful campus. However as I do not anticipate being eligible for need based grants, and in these dire economic ties, the availability of merit aid, will be greatly appreciated and, will be an important factor in my decision.

For example, the University of Texas: Austin has recently offered me a merit scholarship of $9,500 a year alongside with granting me a Nonresident Tuition Exemption (NRTE) valued at $48,000 for three years, a total equaling $76,500 for three years (scanned copy attached). As you can see the University of Texas has made me a very generous offer, and while I would still like to attend Michigan, which remains my top choice, I can’t justify the extra expense, especially considering the current economy. Is there a possibility of me being granted any amount in merit based scholarship that would make this decision easier?

Thank you very much
Sincerely,
<name>

Or should i leave out the second paragraph, wait for a response for the first paragraph, and then send in the second paragraph as a second email?

Basically I'm asking should I push all my chips onto the table all at once...or slow play it. The thing is I know I'm not holding pocket rockets, so personally i think slow playing this would hurt me...but that's why I turn to the collective genius of this forum.

Thanks!

Kobe_Teeth
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Re: How to properly leverage a scholarship?

Postby Kobe_Teeth » Fri Jan 14, 2011 1:37 pm

I did this at a more regional lower ranked school (T2) and it eventually worked. I wrote a similar letter to which they initially said, "no" and then eventually they found some extra money laying around, called me up and offered it.

I have no idea how integral my letter was to the process of me being offered more money. What I do know is that they were not offended or put off by it.

cire
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Re: How to properly leverage a scholarship?

Postby cire » Fri Jan 14, 2011 4:17 pm

That's good to know that asking them for money can elicit positive responses. I'm so far just thinking of ways to word it to the best effect.

Additionally should I wait till march based on an excerpt of an email I received?

"Of the significant amount of grant aid Michigan Law provides to incoming students every year, some is awarded by the Admissions Office, while some is awarded through the Financial Aid Office. You will be automatically considered for merit grants by the Admissions Office based on the information provided at the time you applied; we’ll contact you by March if we are able to make you an award, and no application is necessary."

Should I preemptively send in my request or wait for them to broach the subject?

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absolutazn87
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Re: How to properly leverage a scholarship?

Postby absolutazn87 » Mon Jan 17, 2011 1:39 pm

cire wrote:That's good to know that asking them for money can elicit positive responses. I'm so far just thinking of ways to word it to the best effect.

Additionally should I wait till march based on an excerpt of an email I received?

"Of the significant amount of grant aid Michigan Law provides to incoming students every year, some is awarded by the Admissions Office, while some is awarded through the Financial Aid Office. You will be automatically considered for merit grants by the Admissions Office based on the information provided at the time you applied; we’ll contact you by March if we are able to make you an award, and no application is necessary."

Should I preemptively send in my request or wait for them to broach the subject?


This thread interests me! I started a similar thread on Michigan and Penn, with Michigan offering money and nothing from Penn yet.

The big issue that wasn't covered in that "Negotiating Merit Aid" thread is when to send out the first feeler email and whether we should wait for an offer to be extended first before negotiating.

While sending scholly info from peer schools early might give you an advantage because all the scholly money hasn't been allocated yet, if they reply back with a no, you've lost all of your leverage.

So the real question is when? And whether to slow play it by inquiring about merit aid first, and then replying with rival offers in a later email?

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DeeCee
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Re: How to properly leverage a scholarship?

Postby DeeCee » Mon Jan 17, 2011 2:11 pm

cire wrote:
Dear Michigan University (or name of specific person),

I was thrilled to learn of my acceptance to Michigan University as Michigan Law remains my absolute top choice among potential law schools. I’m looking forward to attending your preview weekend in March and touring your beautiful campus. However, I do not anticipate being eligible for need based grants, and in these dire economic times, the availability of merit aid would be greatly appreciated and will be an important factor in my decision.

For example, the University of Texas, Austin has recently offered me a merit scholarship of $9,500 a year and granted me a Nonresident Tuition Exemption (NRTE) of $48,000 for three years, equaling a total of $76,500 for three years (scanned copy attached). As you can see, the University of Texas has made me a very generous offer, and while I would still like to attend Michigan, I can’t justify the extra expense, especially considering the current economy. Is there a possibility that you might grant me a merit based scholarship that would make this decision easier?

Thank you for your time.
Sincerely,
<name>


FIFY. I took out several words and bolded the things I changed (commas, tenses, etc).

cire
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Re: How to properly leverage a scholarship?

Postby cire » Mon Jan 17, 2011 10:27 pm

absolutazn87 wrote:This thread interests me! I started a similar thread on Michigan and Penn, with Michigan offering money and nothing from Penn yet.

The big issue that wasn't covered in that "Negotiating Merit Aid" thread is when to send out the first feeler email and whether we should wait for an offer to be extended first before negotiating.



While sending scholly info from peer schools early might give you an advantage because all the scholly money hasn't been allocated yet, if they reply back with a no, you've lost all of your leverage.

So the real question is when? And whether to slow play it by inquiring about merit aid first, and then replying with rival offers in a later email?


That's basically what I'm worried about. I don't know if I should send out my UT:Austin scholarship info out as the first email, or send out a 'feeler' email. Also I don't know whether to send out the email in February or in March...

Does anyone actually know?

@DCLaw11: Thanks so much!!

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DeeCee
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Re: How to properly leverage a scholarship?

Postby DeeCee » Tue Jan 18, 2011 12:04 am

cire wrote:
That's basically what I'm worried about. I don't know if I should send out my UT:Austin scholarship info out as the first email, or send out a 'feeler' email. Also I don't know whether to send out the email in February or in March...

Does anyone actually know?

@DCLaw11: Thanks so much!!


No prob, I hope it works out for you! I think you will come off as assertive and respectful with your email. You should send it and see what happens. I'm sure they understand that offers come in, and Mich might be willing to work with you on this.

cire
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Re: How to properly leverage a scholarship?

Postby cire » Tue Jan 18, 2011 8:14 pm

Thanks again. But can anyone actually answer definitely when I (or anyone else) send out these types of letters. So far I'm seeing two contradictory schools of thought:

1) Wait till you hear back from every school (viewtopic.php?f=15&t=144799)
2) Send out as early as possible (viewtopic.php?f=15&t=144885)

Which one is correct? Or are they both correct, on a case by case basis. For example in my case the only thing I can hope for is a admission/scholarship from duke/Cornell (better top tier than UT, so better leverage) or admission to NYU/Columbia (higher tier, but then it would make no sense for me to say that Michigan is my top choice) [actually forgot about the scenario where Michigan might offer me money, however unlikely] In my case it would seem that sending out asap is the right call, since the chances of the above two scenarios occurring as slim to none (even though I magically got into Michigan and got scholarship for UT, I got rejected from Vandy & Georgetown (& Notre dame?)).

So given the above, I should send out DCLaw11's corrected letter out ASAP, right?

Again I can't thank this forum enough.

NJYankee6
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Re: How to properly leverage a scholarship?

Postby NJYankee6 » Fri Jan 21, 2011 1:49 pm

cire wrote:Thanks again. But can anyone actually answer definitely when I (or anyone else) send out these types of letters. So far I'm seeing two contradictory schools of thought:

1) Wait till you hear back from every school (viewtopic.php?f=15&t=144799)
2) Send out as early as possible (viewtopic.php?f=15&t=144885)

Which one is correct? Or are they both correct, on a case by case basis. For example in my case the only thing I can hope for is a admission/scholarship from duke/Cornell (better top tier than UT, so better leverage) or admission to NYU/Columbia (higher tier, but then it would make no sense for me to say that Michigan is my top choice) [actually forgot about the scenario where Michigan might offer me money, however unlikely] In my case it would seem that sending out asap is the right call, since the chances of the above two scenarios occurring as slim to none (even though I magically got into Michigan and got scholarship for UT, I got rejected from Vandy & Georgetown (& Notre dame?)).

So given the above, I should send out DCLaw11's corrected letter out ASAP, right?

Again I can't thank this forum enough.


+1 on whether I should wait for all acceptances/offers or send out a feeler letter asap. I do not have a "top choice" school, just want to remain in the tri-state (NJ NY CT PA) region. Anyone have success negotiating down stipulations? Or are these feeler letters mostly about receiving any/more merit based money as opposed to negotiating stipulations? Thanks for your help!

fuzzypeach
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Re: How to properly leverage a scholarship?

Postby fuzzypeach » Fri Jan 21, 2011 4:56 pm

Is there advantage to waiting besides having more decisions(hopefully favorable) to create leverage on? It seems the longer you wait, the less money that might be available. And in this poster's case, if he really means that he wants to go to Michigan, shouldn't he go ahead and put himself out there?

cire
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Re: How to properly leverage a scholarship?

Postby cire » Tue Jan 25, 2011 5:15 pm

So I sent in the email today (the corrected version by DClaw11) and got a response almost immediately:

Basically they said:

I don't qualify for a merit scholarship, but; "However, we encourage you to contact us again later this spring, once you have financial aid awards and any scholarship information from the other schools to which you have been admitted. In some cases, we are able to make a competing scholarship award. Please let us know if you have any further questions or concerns. "

Which is confusing. I mean I already told them about the scholarship Info I got from another school, but they don't even mention it. Not even dismissively. Not only that, they encourage me to send the same Info again, just later in spring... Which is weird. I don't know what to make of it.

r6_philly
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Re: How to properly leverage a scholarship?

Postby r6_philly » Wed Jan 26, 2011 12:49 am

It's too early in the cycle. Unless you are in the auto-admit/highly desired category, they will not look at your request yet (you are not, since you weren't offered a scholarship to begin with). Wait until they are done with the non-WL admits, then they will have a good idea of where you stand in their admit group. Since only 30% or so admits end up enrolling, they expect most admits to not attend. So you don't have much leverage because of your numbers - you are really eager to attend, and you are easily replaced as well. I would wait until late in the cycle (mid April) and try to get a match. If you are lucky, you are in a position/group that they feel the need to retain, they will give you something to keep you. If you are unlucky, then they will chalk up to count you as 1 of the 600+ that will not attend. There will probably be someone just like you eager to pay sticker though...

Good luck, and hope you get what you what. Think lucky!

r6_philly
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Re: How to properly leverage a scholarship?

Postby r6_philly » Wed Jan 26, 2011 12:50 am

Personally I am waiting for T14s to send out the complete finaid packages before I negotiate. That way I know if I am getting any need based aid, so when I sumbit my UVa offer, I can tell if they are just going to take some need aid and call it merit/match ;)

jswilson27
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Re: How to properly leverage a scholarship?

Postby jswilson27 » Wed Mar 02, 2011 2:42 pm

Just emailed Michigan asking (please? please?) for some merit money, taking into consideration my scholarship offers from UT, UCLA, and WashU. I'll you know how it goes!

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RIPmitchhedberg
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Re: How to properly leverage a scholarship?

Postby RIPmitchhedberg » Tue Mar 22, 2011 12:01 pm

I had the same $76k Texas offer and emailed Michigan about it yesterday. This morning they wrote me back offering $10k/year. I'm guessing that $10k is their auto-response to everyone who is trying to decide between this UT scholarship and Michigan sticker.




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