Merit Aid vs. Financial Aid — When Families Will Know
For many families, waiting for admissions decisions is only half the stress. The other half is waiting for aid packages — and understanding why they differ so much across schools.
Merit Aid
Definition: Scholarships awarded for academic achievement, leadership, or talent. Not tied to family income.
Timing: Often released with admission decisions, but some schools notify later.
Purpose: Used as a recruitment tool. Colleges may offer merit aid to entice strong students to enroll over competitors.
Example: A student admitted to both Tulane and Vanderbilt might receive significant merit from Tulane, which relies on it more heavily, and little to none from Vanderbilt.
Financial Aid
Definition: Based on demonstrated financial need, determined by FAFSA and CSS Profile.
Timing: Can lag, especially with delays in FAFSA processing. Expect packages within weeks of admission.
Purpose: Ensures affordability and expands access, while balancing the school’s budget.
Why Aid Packages Differ
Institutional Priorities: Schools may allocate more aid to certain majors or demographic groups to shape the class.
Budget Constraints: There’s only so much to give, and awards are distributed strategically.
Yield Management: Aid is often adjusted to increase the likelihood a desirable student will enroll.
Insider Perspective: Aid isn’t just generosity. At UChicago, I saw aid packages adjusted based on real-time enrollment data — a way to “seal the deal” with students we especially wanted.
Closing Thought
Waiting for aid packages can feel just as stressful as waiting for decisions. Every college uses aid differently — as recognition, as strategy, and as a lever for enrollment.
If you’d like guidance comparing offers, understanding the fine print, or deciding whether to appeal, I can help you approach this with clarity and confidence. Families I work with don’t have to face the waiting game alone — they have a trusted partner in their corner.
