Quote:
Originally Posted by InDebtInDC
Everybody has beat around this issue but no one has brought it up.
There are two (2) forms of financial aid:
1) need-based aid created under Title IV of the US Code,
2) merit-based aid based on the student's record, background, and performance provided by any kind of organization.
The argument is that if you are a well-qualified candidate, your entire college education would be merit-based aid and you would not need to get need-based aid. The second part of the argument is that the student and the parents are required to exhaust their entire assets before need-based aid will kick in.
Your argument would be that need-based aid should be eliminated completely, and we should go to a 100% merit-based aid system.
Carry on  |
Just to clarify. Ivy League schools do NOT have merit based student aid. They determine admission based on merit (some combo of academic/extracurricular achievements/state residency/race/"legacy"). If the student passes academic muster and gets admitted, THEN the family's finances get evaluated to determin need and a financial aid package consisting of grants are awarded.
I actually attended an Ivy League school myself and did not think it was "all that," however the connections and the doors that opened up for me as a result can not be calculated. I guess all I am saying is that if you or your children's grades are very good, apply to some of the Ivy League schools becasue cost may not be an issue (unfortunately, although there are other "top tier" schools, they do not have the large endowemen:student ratio to fund financial aid)
BTW, the education system in the States has problems, but it is by far the best in the world -- that is why everyone wants to come here to study. I had one college friend from Asia who told me that in his country:
1) competition is fierce. There is one national college exam held in one day throughout the country, and based on this score (and grades) your future is determined.
2) you are only allowed to apply to one college per year. If you don't get in, you have to re-apply the following year or go abroad to study.
3) There is no financial aid.
My friend, who went to Tufts, had #1 and #3 (he was from a wealthy family), but did not get into the school of his choice so came to the States. He had the merit and the money, but not the luck.
From what I remember, back in the 80's when I was applying, the average US highschool student applied to 9 schools (I applied to three -- probably dumb in retrospect, but it worked out at the end).