Link to a decent list of colleges and uni's that offer merit aid including average award amount & % of freshman who receive merit.

[FaithManor]

http://www.nytimes.com/interactive/2012/07/08/education/edlife/8edlife_chart.html

 

This is a pretty decent list. Certainly not exhaustive, but a number of the schools we regularly seem to mention on the board are included in this list. For those that make too much money to count on much in need based aid, and not enough to be writing big checks for tuition, room and board, this might give you an idea where to look for schools that are a little more generous.

 

Average award size is just that...average.

 

One thing I noticed with great discouragement is just how stingy most of the Christian Uni's and LAC's are. Many reported only 5% some even less receiving any merit aid and the average award was pittance compared to the tuition price tag...add room and board onto that and I have to say that one of the larger contributing factors to the horror stories we hear about high student loan bills may very well be coming from students that attended colleges like Wheaton in IL, or Indiana Wesleyan, Grove City, etc. I'm not maligning anyone's alma mater as an educational choice, just questioning what the real situation is at these schools. Are they meeting need based at 100% or almost and therefore attractive to lower income families, only attracting higher income families who can pay full freight, or are they student loan factories extraordinaire? It would be really interesting to know exactly what the deal is at these schools. Given that my two nieces attended Spring Arbor University with their president's scholarship (their highest award) which is $10,000.00 on a $32,000.00 final bill and have about $80,000.00 in student loan debt a piece (one has this payment for a degree in early childhood education :huh: , not a high paying career no matter how many years experience you have), I'm leaning towards student loan factory for that particular institution.

 

Anyway, I just thought some of you with juniors/rising seniors and thinking about this for next year might be interested in the information.

[unsinkable]

I appreciate the link but for DS's college...I find it hard to believe the percentage of freshman getting merit aid is correct.

Literally every freshman he knows at his college has received merit aid yet the chart lists it at less than 20%. They all compare what scholarship they got.

Could they (his friends) be lying? Maybe, but I doubt it.

P.S. and it is a religious college and I think the scholarships are very helpful...40% to 60% off for most of his friends.

[FaithManor]

I appreciate the link but for DS's college...I find it hard to believe the percentage of freshman getting merit aid is correct.

Literally every freshman he knows at his college has received merit aid yet the chart lists it at less than 20%. They all compare what scholarship they got.

Could they (his friends) be lying? Maybe, but I doubt it.

P.S. and it is a religious college and I think the scholarships are very helpful...40% to 60% off for most of his friends.

Hmm...you know...it's very hard to say. I know that the report is accurate for both Wheaton and Taylor U.

 

I wonder also if some of the scholarships are technically called grants and linked to specific majors but not necessarily to achievement so would be listed differently. I don't know, but I could see that being an issue. DD received a $2500.00 homeschool "grant" at Cedarville University because they were wooing homeschooled students. It wasn't linked to achievement at all. Just check the box, homeschooled. Bam, you got it. It was just for the first year. So, if schools have awards that are for extra-curriculars or non academic skill sets - ie. meeting other criteria than ACT, grades, rigorous transcript, etc. - maybe that is not included under "merit" based aid.

 

I know one of the 4-H kids we wrote recommendations for received enough scholarships and grants to end up at MSU without paying a dime. However, technically her merit aid was only half of the bill...the other stuff was in grants for specific things she did and accomplished and are tied to graduation rates, or participation in this or that. It would be very interesting to know what the criteria was for calling a financial award merit aid in this report.

[8filltheheart]

Here is another link. http://talk.collegeconfidential.com/financial-aid-scholarships/1348012-automatic-full-tuition-full-ride-scholarships.html#latest

Another piece of info that will only impact a handful of students that I didn't know about until a couple of yrs is that Christendom will forgive college debt for any student that pursues a religious vocation.

[FaithManor]

Here is another link. http://talk.collegeconfidential.com/financial-aid-scholarships/1348012-automatic-full-tuition-full-ride-scholarships.html#latest

Another piece of info that will only impact a handful of students that I didn't know about until a couple of yrs is that Christendom will forgive college debt for any student that pursues a religious vocation.

When you say Christendom, are you referring to certain schools, certain denominations, certain organizations? I know that in our denomination this is NOT the case. There is no forgiveness and one reason it's hard to find new missionaries, and especially medical missions, is the debt. They can't live on such low salaries on such large debt. So, if you could clarify who the groups are that do this and the criteria, that would be great for those boardies with kids pursuing ministerial degrees.

 

Thanks!

[8filltheheart]

When you say Christendom, are you referring to certain schools, certain denominations, certain organizations? I know that in our denomination this is NOT the case. There is no forgiveness and one reason it's hard to find new missionaries, and especially medical missions, is the debt. They can't live on such low salaries on such large debt. So, if you could clarify who the groups are that do this and the criteria, that would be great for those boardies with kids pursuing ministerial degrees.

Thanks!

No, Christendom is the name of a Catholic university. http://www.christendom.edu/academics/index.php
Its COA is around $33,000/yr, so forgiveness of debt is pretty significant.

[unsinkable]

Hmm...you know...it's very hard to say. I know that the report is accurate for both Wheaton and Taylor U.

I wonder also if some of the scholarships are technically called grants and linked to specific majors but not necessarily to achievement so would be listed differently. I don't know, but I could see that being an issue. DD received a $2500.00 homeschool "grant" at Cedarville University because they were wooing homeschooled students. It wasn't linked to achievement at all. Just check the box, homeschooled. Bam, you got it. It was just for the first year. So, if schools have awards that are for extra-curriculars or non academic skill sets - ie. meeting other criteria than ACT, grades, rigorous transcript, etc. - maybe that is not included under "merit" based aid.

I know one of the 4-H kids we wrote recommendations for received enough scholarships and grants to end up at MSU without paying a dime. However, technically her merit aid was only half of the bill...the other stuff was in grants for specific things she did and accomplished and are tied to graduation rates, or participation in this or that. It would be very interesting to know what the criteria was for calling a financial award merit aid in this report.

He and his friends are comparing the scholarships based on high school GPA and SAT and/or ACT. There are different levels/amounts so I'm sure they are talking merit aid.

Maybe he is friends with just the high achievers :lol:.

[FaithManor]

He and his friends are comparing the scholarships based on high school GPA and SAT and/or ACT. There are different levels/amounts so I'm sure they are talking merit aid.

Maybe he is friends with just the high achievers :lol:.

Unsinkable, that could actually be the case!  :D  I was a music major so everyone I hung out with, for the most part, were people who had to survive the audition process and if they did, were offered significant departmental aid based on that talent and not grades or ACT scores. Though I did get a scholarship based on the ACT, the reality was the bulk of the aid was music based...that year they really needed another pianist with big time sight reading skills and mega accompanying skills to help out the instrumentalists with recitals because one of the piano faculty was injured. I got the position and since I was waffling because I had an excellent package from one of their main competitors, the music department upped the ante.

 

It's just so hard to say how the above percentages were defined. Grove City really shocked me. They listed 3% of freshman receiving merit based aid. So, I did a little snooping...when it comes to just grades/ACT that's pretty much true. A lot of what they give is not stats based so much and related to specific departments and private scholarships with endowments for very specific purposes that only pay out to a small number of students each year.

[Teachin'Mine]

Good find, but these statistics are from 2008 and many colleges have changed their policies since then.  Unless someone is full pay or close to full pay, merit aid generally has little effect on the overall cost to the student.  The number that's more significant is the percent of students for whom full need was met and the average percent of need met.   The most generous in this regard generally do not offer merit aid of any kind as the students are all top performers and they want to help those who need the financial help the most.  But this list is probably still somewhat relevant in finding colleges which do tend to offer more merit aid and then their current stats can be researched further.

[FaithManor]

Oops, I didn't catch that it was 2008! This is what I get for doing research WITHOUT two cups of coffee already coursing through my veins. :D I should know better than to work on things like COLLEGE RESEARCH before I've consumed a pot and let it stew away on my brain, LOL!

 

I can delete it if everyone thinks it's too outdated to be useful.

[Sebastian (a lady)]

Good find, but these statistics are from 2008 and many colleges have changed their policies since then. Unless someone is full pay or close to full pay, merit aid generally has little effect on the overall cost to the student. The number that's more significant is the percent of students for whom full need was met and the average percent of need met. The most generous in this regard generally do not offer merit aid of any kind as the students are all top performers and they want to help those who need the financial help the most. But this list is probably still somewhat relevant in finding colleges which do tend to offer more merit aid and then their current stats can be researched further.

I think you have to keep nibbling at this question depending on the school and the relative position a student would have in both academic stats and household income at each school.

Dh and I were discussing our own college applications a few months back. I remember not applying to one school because it prominently stated that they offered no merit aid. It never occurred to me that my family would have qualified for need based aid. What was a comfortable middle class existence in almost rural Washington state would have been on the lower end compared to a family in business or the financial sector in the Northeast.

I didn't feel needy and didn't think of myself in those terms. I assumed that sticker price was it.

Similarly I've seen numbers for merit aid from some state schools where I look at the qualifying score requirements and they seem quite manageable. Some of these have been half or full tuition scholarships. But the school isn't one that is being fought over on College Confidential. These schools often have honors colleges and dorms for honors or specific groups of majors.

It wouldn't matter the percent of students getting merit or need aid. But it would matter a great deal what the qualifying threshholds are.

[Sebastian (a lady)]

Maybe leave it up as a starting point for research?

[8filltheheart]

Unless someone is full pay or close to full pay, merit aid generally has little effect on the overall cost to the student. The number that's more significant is the percent of students for whom full need was met and the average percent of need met.

This is not our experience.

[Teachin'Mine]

Oops, I didn't catch that it was 2008! This is what I get for doing research WITHOUT two cups of coffee already coursing through my veins. :D I should know better than to work on things like COLLEGE RESEARCH before I've consumed a pot and let it stew away on my brain, LOL!

 

I can delete it if everyone thinks it's too outdated to be useful.

 

NO!  Don't delete it.  It's still a place to start.  I just mentioned the year because it may help to account for current students experiencing different stats now.  I also think that some students mistake financial aid or grants for merit aid, so the percent of students reporting merit aid may be higher than it actually is.

 

I've only had one cup and could use a lot more myself!   :laugh:

[8filltheheart]

it would matter a great deal what the qualifying threshholds are.

Yes. For example, UAH has great scholarships for high stat kids that are fully automatic.
http://www.uah.edu/financial-aid/aid/scholarships/new-freshmen/merit-scholarships

[Luckymama]

Good find, but these statistics are from 2008 and many colleges have changed their policies since then.  Unless someone is full pay or close to full pay, merit aid generally has little effect on the overall cost to the student.  The number that's more significant is the percent of students for whom full need was met and the average percent of need met.   The most generous in this regard generally do not offer merit aid of any kind as the students are all top performers and they want to help those who need the financial help the most.  But this list is probably still somewhat relevant in finding colleges which do tend to offer more merit aid and then their current stats can be researched further.

Actually, the stats compare 2011-12 with 2007-8 (some 2010-11):

"It’s the fate of being in the middle: a good student but not Ivy caliber, strapped by college costs but not eligible for enough need-based aid. The New York Times analyzed College Board data from colleges and universities that award aid based on academic promise. Amounts represent the estimated merit aid given to first-time freshmen in 2011-12 (asterisks indicate final figures for 2010-11). Figures have been adjusted for inflation. Click on a column header to sort columns most to least, or vice versa. Related Article »"

Would you please elaborate on the bolded?

[Teachin'Mine]

This is not our experience.

 

I think it is as you've shared that your son would not qualify for financial aid, and would therefore be full pay or close to full pay - in the eyes of the colleges, not from the reality of your situation.  I probably didn't make it clear.  Sorry.

[Teachin'Mine]

Actually, the stats compare 2011-12 with 2007-8 (some 2010-11):

"It’s the fate of being in the middle: a good student but not Ivy caliber, strapped by college costs but not eligible for enough need-based aid. The New York Times analyzed College Board data from colleges and universities that award aid based on academic promise. Amounts represent the estimated merit aid given to first-time freshmen in 2011-12 (asterisks indicate final figures for 2010-11). Figures have been adjusted for inflation. Click on a column header to sort columns most to least, or vice versa. Related Article »"

Would you please elaborate on the bolded?

 

My apologies - you are right.  I jumped to reading the chart and missed the first paragraph explaining.   I definitely needed that 2nd cup of java.  lol   Faith, sorry for the wrong info!

 

As for what I meant by the merit aid amount counting more for those who are full pay or close to it, with the exception of a handful of full-ride scholarships available at some colleges, most merit aid is for full tuition at most.  That seems significant to most parents, but for those who need closer to a full ride, the room and board and other expenses are often not covered by financial aid and are the students/parents financial responsibility.   This is as a general rule.  We've also found that smaller merit aid is simply deducted from the financial aid the student is awarded and sometimes this comes with a minimum GPA to maintain.  My dd has been awarded generous merit aid at some colleges, but it's just a drop in the bucket compared to the total cost.  I guess I wais speaking from my experience.  And for the colleges who don't award any merit aid, they are often the cheapest option for the majority of families, excepting those with high income and assets who can truly afford to pay the full freight.  The difficulty for most students who need the financial aid these generous colleges offer is that they admit such small percentages.

[8filltheheart]

I think it is as you've shared that your son would not qualify for financial aid, and would therefore be full pay or close to full pay - in the eyes of the colleges, not from the reality of your situation. I probably didn't make it clear. Sorry.

That is not quite accurate. We had unusual circumstances this past yr which made things difficult. All schools adjusted our EFC after explanation with the exception of Case Western (originally). Case did come back a week or so ago with adjusted numbers that were pretty comparable to others after we contacted them and asked them if they had considered our explanation.

I still do not get what you are saying. Are saying that if students don't qualify for merit aid and the cost is over the EFC, then the balance is made up in grant money and so what difference does it make? If that is the case, then it really is a matter of what schools you are looking at, bc that is not a universal truth. There are schools that give merit aid that significantly surpass EFC of the avg middle class family.

When you look at the merit aid offered at lower ranked schools to higher achieving students, it makes the difference between paying your EFC or closer to full-ride. It is more a matter of which schools and how families prioritize school rank vs. cost.

[Teachin'Mine]

8 I was just going with the information you have shared here, but obviously I was wrong.  Schools do sometimes also offer additional aid, whether merit or financial, to keep the students they desperately want.  I'm sure your son is in that category.   ;)

 

There are exceptions to everything.  I was speaking from my experience.  Unless you are talking about colleges which offer 100% need based aid, and even among those there is quite a variation in aid actually offered, the EFC from FAFSA is often far from what the student/parents will be asked to contribute.  That's where those imaginary numbers can come into play as some expect not only the usual $5500 in student loans, but additional loans and other sources which may or may not be available to an individual family.   What I have seen, and I've heard the same from others as well, is that sometimes, likely usually but by no means always, merit aid simply reduces the grants and need based aid the colleges offered.  Sometimes, probably often, the difference can be made up with outside scholarships, but applying for them is by no means any guarantee of being awarded the scholarship.  Generally the more generous, the lower the percentage of those selected, as is to be expected. 

 

So, for those who, according to the college, can pay the full tuition, room/board and other expenses, the merit awards adjust the total amount to be paid dollar for dollar.  This may or may not be the case for those who are also receiving financial aid.

[Sebastian (a lady)]

A few things I'd like to see. Requirements for aid. Percent of students qualified for merit aid who received it (in other words is it automatic bases on scores and grades or competitive). Also is the tuition and fees amount in state or out of state? What is the cost of room, board and books?

I also noticed that Miami University (Ohio public college) isn't on the list but gives good merit aid.

And of course service academies were excluded. (I know they are a special case but it doesn't help the effort to educate students about the possibility when they are consistently left off of such lists. They are competitive, but so are a lot of other schools. )

[Jenny in Florida]

I wonder also if some of the scholarships are technically called grants and linked to specific majors but not necessarily to achievement so would be listed differently. I don't know, but I could see that being an issue. DD received a $2500.00 homeschool "grant" at Cedarville University because they were wooing homeschooled students. It wasn't linked to achievement at all. Just check the box, homeschooled. Bam, you got it. It was just for the first year. So, if schools have awards that are for extra-curriculars or non academic skill sets - ie. meeting other criteria than ACT, grades, rigorous transcript, etc. - maybe that is not included under "merit" based aid.

 

Yeah, it's complicated to sort out what is "merit aid."

 

For example, I was showing my husband this table, and he pointed out the average award for one of the schools our son has been seriously considering and asked me how much our son has been offered. I had to go check my notes, because I remembered the total but not how it had all been labeled. For that school, his automatic scholarship based on grades/GPA more or less matches the average shown on the table. However, he was also awarded a grant for out-of-state students, an additional scholarship for participating in an on-campus event and a performing arts scholarship. All told, his total award is almost twice the average shown, but what of that is counted as "merit aid?"

[Jenny in Florida]

He and his friends are comparing the scholarships based on high school GPA and SAT and/or ACT. There are different levels/amounts so I'm sure they are talking merit aid.

Maybe he is friends with just the high achievers :lol:.

 

I suspect that is probably the case.

 

Every now and then, I am struck by the fact that my own family lives in a bubble. All of my son's friends are do-ers, achievers in one way or another. With one exception, they are all taking honors and AP courses, all excelling at various extracurriculars, etc.  In fact, academically, my kid looks like a bit of a slacker next to some of his closest buddies. We just take it for granted that this is what teens do.

 

And then I go and look up things like the average ACT/SAT scores for our local high schools, and I am blown away by the contrast.

 

My husband looked at the percentages on the NYT table of freshmen receiving merit aid and the average awards, compared that info with what our son has been offered from a few schools on that list and decided that he owes our kid a pat on the back.

 

Sometimes, we just forget what "normal" looks like.

[8filltheheart]

8 I was just going with the information you have shared here, but obviously I was wrong. Schools do sometimes also offer additional aid, whether merit or financial, to keep the students they desperately want. I'm sure your son is in that category. ;)

There are exceptions to everything. I was speaking from my experience. Unless you are talking about colleges which offer 100% need based aid, and even among those there is quite a variation in aid actually offered, the EFC from FAFSA is often far from what the student/parents will be asked to contribute. That's where those imaginary numbers can come into play as some expect not only the usual $5500 in student loans, but additional loans and other sources which may or may not be available to an individual family. What I have seen, and I've heard the same from others as well, is that sometimes, likely usually but by no means always, merit aid simply reduces the grants and need based aid the colleges offered. Sometimes, probably often, the difference can be made up with outside scholarships, but applying for them is by no means any guarantee of being awarded the scholarship. Generally the more generous, the lower the percentage of those selected, as is to be expected.

So, for those who, according to the college, can pay the full tuition, room/board and other expenses, the merit awards adjust the total amount to be paid dollar for dollar. This may or may not be the case for those who are also receiving financial aid.

No you weren't wrong, just not complete picture. Our EFC was ridiculously high b/c of our relocation. We could only dream his income was so high. :) Once we turned in paper work showing income vs. relocation expenses, the schools did lower our EFC (but it took a long time!) But, no the numbers were adjusted due to our real EFC vs. anything to do with ds.

But as for the rest, it is where I think the bulk of the conversation about what is merit aid should focus. Based on the conversations on the college forum, the area where most people are discussing problems is not being able to meet EFC. It is where our problem is. If we had no choice, we would have had to take out loans to cover the EFC b/c we certainly don't HAVE our EFC accessible. So even for schools that "meet full-need" would cost more than we can afford b/c we can't afford our EFC.

So, do pure merit scholarships exist? Yes. But, the thing is that there is a minimum threshold. More merit aid is available for higher stat kids at lower ranked schools. Like the link I posted in this thread, UAH covers full tuition and room for high stat kids. Lousiana Tech is another (I just scrolled down the list looking for full-ride). Some schools offer more scholarships beyond the main freshman admission scholarships. That takes a little more digging.

[LizzyBee]

My 2nd daughter will be going to Roanoke College, and it's listed at 17%.  I'm surprised it's not higher.  Roanoke is known for its large endowment which allows it to give a lot of financial aid.  My daughter got a $16,500/year merit scholarship just for completing her application, and she's a good student, but not stellar by any means.  A/B avg, no AP classes, and only 500 on the math section of the SAT.  Maybe it helped that she scored well on the writing section and is going to be an English/Writing major.  This is a school that is way out of our reach, but between merit and need-based aid from the college and one other private scholarship, dd will only have to borrow about $7,000/year.  It's a Lutheran college.

[Teachin'Mine]

No you weren't wrong, just not complete picture.   Our EFC was ridiculously high b/c our house had severely depreciated in value and our relocation package includes a stop loss which means that we were reimbursed for a % of our loss but  had to directly reinvest the stop loss $$ into our new house.   However the $$ shows up on dh's W2 as income.   We could only dream his income was so high.  :)   Once we turned in paper work showing income vs. relocation expenses, the schools did lower our EFC (but it took a long time!)  But, no the numbers were adjusted due to our real EFC vs. anything to do with ds.

 

But as for the rest, it is where I think the bulk of the conversation about what is merit aid should focus.   Based on the conversations on the college forum, the area where most people are discussing problems is not being able to meet EFC.    It is where our problem is.   If we had no choice, we would have had to take out loans to cover the EFC b/c we certainly don't HAVE our EFC accessible.   So even for schools that "meed full-need" would cost more than we can afford b/c we can't afford our EFC.

 

So, do pure merit scholarships exist?   Yes.   But, the thing is that there is a minimum threshold.   More merit aid is available for higher stat kids at lower ranked schools.   Like the link I posted in this thread, UAH covers full tuition and room for high stat kids.    Lousiana Tech is another (I just scrolled down the list looking for full-ride).     Some schools offer more scholarships beyond the main freshman admission scholarships.   That takes a little more digging.
 

 

And we've had the opposite problem as our EFC as computed by FAFSA is very affordable for us, but the financial aid offers from some colleges are far from affordable for us.  Some which claim to meet 100% need offer about the same as others which only meet 80 to 90% of need.   They each have different ways of "meeting" the need and some rely heavily on loans, work study and student contributions.  No problem with work study but the excessive loans and contribution are a problem.

 

If schools calculated the financial need and offered financial aid accordingly, and then applied the merit aid to what the student owed, then the lower income student would receive the same benefit as the full-pay.  But what we have seen is that the merit aid simply reduces the grants and financial aid offered through the college, effectively making the outcome the same whether the student had received a merit scholarship or not.  Outside scholarships are usually applied in this way, but internal ones are usually not.  That's what I was trying to say.

 

I'm glad that the colleges changed the aid based on your situation, but in the end, it seems that your son's education is free with just merit aid.  That's amazing!   Last year I had looked at the scholarships available at the different UA locations and had noticed the full ride to Huntsville.   It seems they are hard at work building up both the physical campus and the caliber of students.  Great opportunity available there!

 

[8filltheheart]

And we've had the opposite problem as our EFC as computed by FAFSA is very affordable for us, but the financial aid offers from some colleges are far from affordable for us. Some which claim to meet 100% need offer about the same as others which only meet 80 to 90% of need. They each have different ways of "meeting" the need and some rely heavily on loans, work study and student contributions. No problem with work study but the excessive loans and contribution are a problem.

If schools calculated the financial need and offered financial aid accordingly, and then applied the merit aid to what the student owed, then the lower income student would receive the same benefit as the full-pay. But what we have seen is that the merit aid simply reduces the grants and financial aid offered through the college, effectively making the outcome the same whether the student had received a merit scholarship or not. Outside scholarships are usually applied in this way, but internal ones are usually not. That's what I was trying to say.

I'm glad that the colleges changed the aid based on your situation, but in the end, it seems that your son's education is free with just merit aid. That's amazing! Last year I had looked at the scholarships available at the different UA locations and had noticed the full ride to Huntsville. It seems they are hard at work building up both the physical campus and the caliber of students. Great opportunity available there!

Are these CSS schools vs schools relying just on EFC? Or maybe OOS schools?

I have read a lot of these scenarios on CC. It is hard. I hope your able to find a good solution and that your dd is happy with how everything turns out.

[Teachin'Mine]

Yes, OOS and CSS required, but none of that changed the EFC.  She applied to some schools despite them not being known for great aid because she had applied for some great scholarships which would have covered the balance.  Thankfully, she has also been accepted to some very generous schools.  All her choices are so different, so now it's just a matter of deciding.  Cost will be a major factor in her decision, but the decision is all hers.  Thank you, I hope she chooses well too.  No matter how she decides, she's going to end up turning down schools which are very hard to turn down, each for different reasons.