Need aid questions

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senorhosh
Posts: 470
Joined: Tue Dec 28, 2010 4:45 am

Need aid questions

Postby senorhosh » Wed Apr 17, 2013 1:32 pm

1. Are need based aid ever depleted/ gifted on a rolling basis? Basically, will someone get the same amount regardless of when they are admitted, even off the waitlist?

2. If one school offers need aid, is it safe to assume other schools will offer a similar amount? Specifically, how does Gulc compare to other T14 in terms of need aid? I got a good amount at gulc for need aid. is it probable that I'll receive similar amounts from Nu/penn/nyu off the waitlist (considering some of these schools are generally more generous)?

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howlery
Posts: 393
Joined: Fri Aug 26, 2011 8:17 pm

Re: Need aid questions

Postby howlery » Wed Apr 17, 2013 1:40 pm

I would say it depends on the school. HYS probably have enough money to throw around given that they only award need-based aid and even the poorest students usually have to borrow the base loan amount (~$42k a year?). Other schools don't have as much merit aid lying around nor do they give much need-based aid. Applying early generally maximizes your chance of acceptance and $$$.

GULC is really stingy with aid from what I've read. If you were to get anything it would probably be merit-based, and even then they don't seem to give out many of those. Different schools might calculate your need differently or might not be able to give you much from their budget that cycle. They aren't obligated to give you a certain amount based on your perceived need, especially since you'll have access to loans that will cover the full cost of attendance.

ETA: This should be in the financial aid forum.

senorhosh
Posts: 470
Joined: Tue Dec 28, 2010 4:45 am

Re: Need aid questions

Postby senorhosh » Wed Apr 17, 2013 8:42 pm

Thanks.

FYI, I got an initial package for need ONLY, which was increased later for both need + merit.

If GULC is willing to give me X amount for need, is it safe to assume I'll receive somewhat similar amounts from other T14?

Anyone have similar experience?




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