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Importance of ability to pay ?
Posted: Sat Sep 05, 2020 7:01 pm
by 007sean
Do people think that ability to pay full sticker will be a factor in this year’s admission cycle in light of Covid economic crisis ?
Re: Importance of ability to pay ?
Posted: Sat Sep 05, 2020 8:54 pm
by cavalier1138
Will it be a factor for students in making their decision? I would hope so, but it isn't always given enough weight. Not sure why COVID-19 would change that.
Will it be a factor for admissions departments to consider? No. Because it never has been.
Re: Importance of ability to pay ?
Posted: Sat Sep 05, 2020 9:38 pm
by nixy
I've never understood how that would work, since a lot of schools make admissions decisions before they make scholarship decisions, and/or before people submit their financial aid forms. And even people who *can* pay full freight might not want to, and would prefer to take the scholarship at the next school down the ladder.
The other thing is that most people who don't have the money to pay sticker on their own can get loans, so the school would get paid either way. Maybe if schools this year see acceptances decline because fewer students are willing to take out the loans in light of the covid economic crisis, something will change. But grad school enrollments tend to go up in times of economic crisis (admittedly this one is new/different so maybe the same trends won't occur).
Re: Importance of ability to pay ?
Posted: Sat Sep 05, 2020 10:33 pm
by 007sean
It may also very according to how “rich” a school is. Should be similar to colleges. Every application to law school asks whether or not the applicant will apply for financial aid.
Re: Importance of ability to pay ?
Posted: Sat Sep 05, 2020 11:46 pm
by purplegoldtornado
cavalier1138 wrote: ↑Sat Sep 05, 2020 8:54 pm
Will it be a factor for students in making their decision? I would hope so, but it isn't always given enough weight.
Not sure why COVID-19 would change that.
Will it be a factor for admissions departments to consider? No. Because it never has been.
I agree especially with the bold. I would imagine that most people won't be paying back their student loans until the economy is out of its current funk. These sorts of decisions won't really have ramifications until at least three years down the road, and by then, the economy should (I hope) be okay by then.
Re: Importance of ability to pay ?
Posted: Sun Sep 06, 2020 7:39 am
by cavalier1138
007sean wrote: ↑Sat Sep 05, 2020 10:33 pm
It may also very according to how “rich” a school is. Should be similar to colleges. Every application to law school asks whether or not the applicant will apply for financial aid.
Again, this makes no sense. As Nixy pointed out, the school gets paid either way. The box you're referring to is required so that the school can direct the applicant to FAFSA resources.