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Not sure how need based + merit work in combination. Hoping for some TLS wisdom.

I plan on applying for need based scholarships at HYS and some of the other t6 schools I could see myself potentially picking over HYS due to financials.

For the rest of the t14 schools, does it make sense to apply for need based AND merit, or just merit only? I realistically won't consider going to any of the others unless I receive a full ride, and seeing as many of these full ride invites are named schollys that come with the acceptance letters, I’m already not counting on much.

If the schools are based on annual income (as opposed to only summer income), I probably wouldn’t get much as I have high income. I also have high costs though due to taking care of my parents (I’ve shown them as dependents on my 2013 tax return too). I also will be reporting negligible personal assets. Obviously, parental income / assets won’t really be dinging me.

Should I bother doing both, or merit only? Does it vary between schools?

in general, only HYS offer need-based aid, and only need-based aid. The others in the T14 are (nearly) all merit aid.

there's no reason not to apply for both kinds of aid. whatever effort you save by not applying is certainly not worth forgoing the possibility of tens of thousands of dollars. Even though need-based aid dries up as you go down the t-14, it's not non-existent.

And in some cases, you can't apply for one or the other.