College admissions take into account financial situation?

Khaczor

I am wondering if college admissions both undergraduate and graduate take into account you or your parents financial situation if they choose you to be enrolled or not? Is there a difference also between private or public universities? Do you have a better chance to get in if you or your parents show the ability to pay for tuition? All in the United States.

A source or link on this is preferred thanks.

Delzhand

If your parents show the ability to pay, you get less financial aid (if you're under 24). As far as I know, they only look at parental income, though, so if your parents make 80k annually but spend unwisely and never have any cash on hand, you're probably fucked. I had to wait until I was 24 to go to college.

RUNN1NGMAN

No, but they do take it into account when offering financial aid packages.

I have never had to give any sort of financial information when applying to undergrad or graduate schools.

fightinfilipino

some undergrad and grad programs do approach financial aid on a need blind basis; these schools will help you financially regardless. it's usually the most competitive schools that do this, of course.

but in terms of admission, i'm fairly sure certain most, if not all, don't consider financial status when considering to admit.

Cauld

I also don't think they take your financial situation into account for admissions. After all, when you apply you don't provide any financial information, right?

Pure Din

Ah, I wouldn't be so sure. With the economy being the way it is, a lot of private universities and colleges will show preference to students who can pay over students who will need financial aid.

It's something to keep in mind when you pick which schools to apply to, but be honest when you apply to schools, because it's only going to hurt more later if you end up going to a school that you can't afford.

girlziplocked

There are only a handful of private schools which purport to be what's called "need-blind" institutions-- that is they accept you with a "blind eye" towards your financial situation.

Eat it You Nasty Pig.

Well, no. Most places will accept everyone on merit, but if you can't pay they'll take someone else. A few of the highest end universities have large enough endowments that they take the most meritorious applicants, picking up their tab as necessary.

kaliyama

If a place doesn't take income and wealth into account the operate a "need blind" admissions program. In practice places will try to admit a certain # of rich people to cross subsidize finaid. It's very school dependent. Where are you looking at? State schools are cheaper but generally have less grant money available to meet need.

Casually Hardcore

Dyscord wrote: »

Well, no. Most places will accept everyone on merit, but if you can't pay they'll take someone else. A few of the highest end universities have large enough endowments that they take the most meritorious applicants, picking up their tab as necessary.

Pretty much this. Remember, college is a business and if it takes giving full rides to the most prestigious students out there to get a high ranking in USNews magazine, then it's exactly what they're going to do.

Deebaser

Well, it all depends on how well off your parents are. If they're able to donate a wing to a building, then yeah, you'll probably get into a tier 2 school with 'meh' grades.

Although, it's a much better plan to actually, you know, get good grades/SAT scores.

ceres

Whether or not they accept you has nothing to do with money. The admissions department doesn't care if you can pay or not as it isn't their problem. On this front, you should be more worried about your high school GPA and your SAT score than anything to do with money.

If you're thinking of financial aid, if you're under 24 and have no money of your own then yes, your parents' income can fuck you for financial aid. If you can see that this is going to be a problem because your parents are wealthy and you really can't get the money on your own, you can try for scholarships that won't take such things into account. Some do, but some don't, so do some research. Also, apply for FAFSA either way.

WildEEP

I actually work in higher education - Admissions doesn't give two shits about your bank account or your parents bank account. They look at your academic record. Hell, Harvard has a rule that if you make under
X amount, if your scores are up to par then you get in for FREE.

Now, before everyone jumps on the private schools and Ivy's are different - let me expound on the myth that you are referring to:

At certain institutions, cash will always be king - but its cash to the university, not to an individual. If your mom or dad built an entirely new hospital wing and donated it to the University - that would probably buy you a rubber stamp for admissions. This still doesnt get you out of repaying your yearly tution bill, it just buys you a speed pass for entry.

This is not part of the normal admissions process and therefore does not apply to your application.