Does Applying for Financial Aid Effect Admission Outcomes?
A question I hear more frequently as application deadlines draw near is one that relates to the relationship between admission and financial aid. Specifically, parents want to know if checking “yes” or “no” to the question on the application for admission: “Will you be a candidate for financial aid?” will effect their student’s admission status. It’s a fair question given the way the world of college admission is spinning these days.
Unlike the relatively laid back admission process that most parents experienced, the present-day deliberations at many colleges are strongly influenced by the desire to enroll the most impressive entering classes possible and, thus, increase their standing among their peers. As institutions seek to burnish their reputations by increasing their selectivity and enrolling high profile students, the role of financial aid has shifted from that of “enabling” students who need assistance to “leveraging” the enrollments of those who possess talents/interests that are valued most highly by the institution.
A student’s ability to be self-supporting financially, then, has become an important credential in the eyes of many admission officers. And, yes, the fact that a student can indicate that s/he is not applying for financial aid can only help. On the other hand, checking “yes” to this question on the application for admission should not hurt. Why? While colleges may, in fact, discriminate based on financial status, they are foolish to do so at the front end of the process before they have seen any real data that demonstrates a student’s need. It is often the case that up to one-third of the students who check “yes” (that they will be applying for financial aid) either never apply for aid or they do apply and demonstrate that they don’t need it. As a result, admission officers are likely to wait (usually until early March of the admission process) so they can see all of the financial aid data for all of the students whom they might admit before deciding, albeit discretely, who will get what.
Years ago, before colleges became concerned about improving their admit ratios and yields (percent of admitted students who enroll), it was not uncommon for them to recognize the strength of a student’s credential by admitting him/her even if they were not going to offer financial aid to meet that student’s need. While consistent with the notion of “need blind” admission–the belief that a family’s financial circumstance should not influence the admission outcome–such a strategy would prove counter-productive for colleges that are concerned about improving their respective yields and becoming more selective.
While claims of “need-blind admission” status continue to emanate from many institutions, they should be regarded somewhat cynically. Institutions, both rich and poor, are becoming increasingly adept at strategically deploying their financial resources in order to leverage the enrollments of students whom they value most highly. When they make decisions to admit and to aid students, with either need or merit-based assistance, they are “resource aware.” In effect, they are making business decisions intended to benefit their institutions. An absolute concept, “need-blind admission” can only exist when it applies to every student in every circumstance of the admission process. When there are exceptions–and one doesn’t need much of an imagination to see the possibilities–institutions fail to meet the “need-blind test.” Unfortunately, “need-blind” is a great idea that is rarely, if ever, achieved.
This brings us back to the original question of, “How do we check the financial aid box on the admission application?” The answer: respond honestly. If you need assistance, say so. At this point, it costs nothing to express an interest. Besides, the simple fact of the checkmark in the “yes” box doesn’t provide sufficient information for an admission committee to discriminate one way or the other.
If you know you don’t need assistance, say “no.” Answering with a checkmark in the “no” box doesn’t eliminate a student from merit scholarship consideration nor does it preclude him/her from receiving assistance from government sources. In fact, there is nothing binding at all about the checkmark. In my experience, the checkmark serves of little value to admission officers except to alert them that you might be submitting a financial aid application in which case they can help to make sure it is complete.
In light of the revelation about “resource aware” admission, it should behoove the student to focus on finding the best college fit. Critical to the discussion of good fit is the notion that the college that is a good “fit” will value the student for what s/he does well. In this instance, a good college fit will not let a student’s financial status stand in the way of admission.
This is an important topic for many families and I will address it at greater length during the December 19 Straight Talk telesminar, “Inside the Financial Aid Application Process.” I look forward to having you join us with comments and questions.
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