In some cases, it may. Some schools have "need-blind" admissions policies, while other schools have "need-conscious" policies (also known as "need-sensitive" or "need-aware" policies). Need-blind policies mean that the admissions office will make an offer of admission without knowledge of a family's ability to pay. Applying for financial aid, therefore, does not affect a student's chance of admission. Need-conscious policies take note of a family's ability to pay. In general, these schools still offer aid to very talented students. The admissions office may become more need aware as they are admitting the last few students into the class and financial aid resources have been depleted.

Colleges may admit students from the wait list. "Need-blind" schools generally provide students with a financial aid package similar to the one they would have received had they not been wait listed. "Need-concious" schools, however, may not be able to offer financial aid with admission. In some cases, schools may consider need as they are removing students from the wait list and may not offer admission to students who are requesting aid.

No. Each school has a specific method for calculating financial aid.

Some colleges offer scholarships based on a particular talent (musical, athletic, academic). Other schools (those in the Ivy League, for instance) do not offer scholarships. Instead. the schools say that they will meet 100% of demonstrated need. The schools may still give the student assistance, but the money is for financial need, not to reward the demonstration of a particular talent.

No, it is not. Each year families are asked to update their financial information. The school recalculates the aid package based on the new financial information and the cost of tuition. This should not be cause for concern. Family finances can change from year to year; colleges need flexibility; and financial aid offices expect to have increases in aid consistent with tuition increases. Most of the changes, therefore, are small variances to allow for tuition increases. In general, financial aid packages do not decrease over time.

Yes. If families receive financial aid packages that are not acceptable, they may appeal the award. Families should contact the college or university financial aid office immediately to find out about the appeals process.

Yes. When the student is admitted she will be given an estimated financial aid package. The student will be able to accept, appeal, or reject the package. It is important that any student who is considering applying for "early decision" as well as financial aid speak with her college counselor. Although the student can accept or reject the financial aid package, she will have to do so in January, and she will not be able to compare the offer with offers from other schools.

No. All colleges agree that the calculations for financial assistance should be the same for early decision or action applicants as they are for regular decision applicants.

Schools will require any combination of the following three forms: the FAFSA (Free Application for Federal Student Aid), the CSS (College Scholarship Service) Profile and an individualized form from the college. It is very important that you complete the required forms and adhere to the deadlines, as any tardiness may result in a delayed decision and less funds available for financial aid packages.

The FAFSA is the most commonly requested form, and it is typically available by September and uses tax information from the prior tax year. The form is designed to reflect a family's financial situation over a given year. We recommend you submit the FASFA form as early as possible. More information about the FAFSA is available online at www.fafsa.ed.gov.

Completing this form is a two-step process. Families must complete a pre-registration form during the fall of the senior year. CSS will then use the information to send families the appropriate financial forms. This pre-registration questionnaire is available online at www.collegeboard.com. You can also call CSS at 800-778-6888. The registration form requires a student's list of colleges. Not all colleges require the CSS profile - it is the student's responsibility to check each colleges requirements.

These forms are becoming less common. If this form is required, the form and instructions on how to complete it will be included with the application materials.

As you begin to complete your financial aid forms, please contact us if your financial situation is not represented fairly or if your future finances are anticipated to be dramatically different from in the past. Changing jobs and illness in families may require major financial adjustments. Families are also advised to contact the financial aid offices at the colleges to find out how to best present their information. The more families can anticipate their future financial situations, the easier it will be for the college financial aid offices to work with you in support of your financial aid requests.

The U.S. Department of Education released a new interactive loan counseling tool to provide students with financial management basics, like information about their current loan debt and estimates for student loan debt levels after graduation. Students can access the new resource, known as the Financial Awareness Counseling Tool, on StudentLoans.gov.

College financial aid offices use the information provided on these forms to calculate the estimated family income, which includes an estimate of both parent and student contributions. The two forms use different calculations to estimate family income. Colleges may require both forms in order to better understand all aspects of a family's financial situation. When considering financial need, a school considers such factors as: parents' income from the prior year, parents' assets (cash, savings, home equity, other real estate and investments), size of family, number of siblings attending college, student's income and student's assets. Colleges assemble financial aid packages that equal the difference between total costs (including tuition, room and board, books, incidentals and transportation) and the estimated family income.

• School Tuition: $24,000
• Room and Board ($3,000/semester): $ 6,000
• Books: $750
• Transportation (varies depending on distance from institution): $800

TOTAL: $31,550

EFC: $10,000
Financial Aid Package: $21,550

A typical financial aid package contains three components:

Grants or Gifts
This money is often from the college itself. In cases of great need, students may apply for federal grant monies, which do not need to be repaid.

Student Loans 
Colleges may ask students to assume loans for their education. This part of the financial aid package can be particularly complicated because there are many kinds of loans. Loans can differ in two major ways. They may have different interest rates, and the interest may start to accrue at different times (i.e. either the time you take out the loan, or from the time your daughter graduates from college).

Campus Jobs
Colleges may require students to work on campus during their four years of college. The amount of the expected contribution varies, but it usually is between $1,500 and $2,000.

** When assembling a financial aid package, colleges will calculate the student loan amount and campus jobs before they award grant money.A calculator can be found at www.finaid.org. Please remember that these calculations can only estimate financial aid packages and do not represent definitive amounts of packages.

This information provides general guidelines for a financial aid timetable. Families should check with the colleges for their particular dates and instructions.

As you begin the college admissions process, be sure to research the particular financial aid policies at each school.

Use the calculators on the Internet to calculate your estimated family income.

Parents and daughters should discuss financial aid together. Students should build their college lists taking into consideration their range of costs and their financial aid policies. Keep college counselors informed about financial aid issues.

Parents and daughters should discuss financial aid together. Students should build their college lists taking into consideration their range of costs and their financial aid policies.

Many colleges offer scholarships to students. Although approximately 90% of merit aid comes directly from college scholarship funds, some awards may come from donations from corporations. Scholarship awards are based on specific talents – academic, athletic, musical, artistic, etc. Ninety percent of merit aid comes directly from college scholarship funds.

In general, the dollar amount of scholarships is increasing. Exceptionally able scholars who do not qualify for need-based aid will find many excellent, high profile colleges and universities that are willing to offer discounts. Despite the general increases in aid, however, it is important to remember that merit scholarships are not available from many of the most selective schools.

As families visit colleges they should ask about possible scholarships and application procedures. The College Center at Bryn Mawr is a good source of scholarship information. The College Counseling Office collects and organizes all information about scholarships, listing them by college or by company where appropriate. The Internet also can be a valuable source of information about scholarships. Websites such as www.finaid.org and www.fastweb.com can help students and families do a thorough scholarship search.

Occasionally families will receive mailings from companies that charge fees and promise to match them with scholarships. In general, we caution families against such services. First, many are simply doing the work that families can do by using books and the Internet. Second, the companies are profit-making entities and primarily are interested in money and expediency. Last, if you qualify for need-based aid and are also matched with a scholarship, your college may reduce the amount of "gift" or "grant aid" awarded, not the loan portion of the financial aid package. Check with the schools to which your daughter is applying and ask how they will compute outside scholarships into a financial aid package.

Sallie Mae Search Engine:

CollegeBoard BigFuture: https://bigfuture.collegeboard.org/scholarship-search

Fastweb:

https://www.fastweb.com/college-scholarships 

Scholar Snapp:

https://www.scholarsnapp.org/ --links with Common App info

Going Merry:

https://www.goingmerry.com/ 

My Scholly:

Raise.me--connects to scholarships for participating colleges based on achievements:

https://www.raise.me/ 

Chegg Scholarship Search:

https://www.chegg.com/scholarships 

Cappex:

Unigo:

https://www.unigo.com/scholarships 

Colleges That Change Lives Scholarship:

Colleges of Distinction’s Mega List of Scholarships: https://collegesofdistinction.com/advice/the-mega-list-of-scholarships-you-should-apply-for-class-of-2020-2021/ 

College Ave Student Loans Monthly Scholarship Giveaway:  https://www.collegeavestudentloans.com/promotions/monthly-scholarship-award/

College Greenlight--for first generation and underrepresented students:

National Hispanic Foundation:

NBMBAA Scholarship Program -National Black MBA Assoc. Inc: www.nbmbaa.org/programs/scholarships/

Ron Brown Scholar Program--for African American students: https://www.ronbrown.org/

Jackie Robinson Foundation--for students of color: https://www.jackierobinson.org/apply/ 

Citrin Cooperman Scholarship Program for students interested in studying business: https://www.citrincooperman.com/careers/scholarships

National Health Service Corps (for health-related majors): www.nhsc.hrsa.gov/scholarships/index.html  

NCCAA Scholarship for students planning to attend a Catholic college:

“Weird” Scholarships (these tend to be quirky): https://lendedu.com/blog/weird-scholarships/