Have you ever wondered whether your financial situation will impact whether you get accepted to the college of your dreams? Well, it depends on the college. Colleges follow one of two admissions policies: need-blind and need-aware.
Need-Blind Admissions Policy:
What does need-blind mean? Universities and colleges with a need-blind admission policy do not consider your financial situation when deciding whether to admit you as a student and their institute. Experts say that most financial aid will go to students who prove a financial need. This approach can have a negative impact on students because many schools that follow a need-blind admission policy will not provide sufficient money in their financial aid packages to allow students without financial struggles to attend their institute.
Admission experts put this policy into perspective: let's say there is a teenager who was raised by a single mother with a career as a receptionist at the local doctors' office. The student gets accepted into a school that costs $45,000. However, the financial package the institute offered includes a $20,000 grant. Given this, the family now has to find where they can get the other $25,000 to pay off.
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Need-Aware Admissions Policy:
Universities and colleges with a need-aware admissions policy consider applicants' financial standing when deciding whether to accept them. They may reserve spots for students who can meet the full cost of attendance without the need for loans, grants, and scholarships. The benefit to this system is that if a need-aware school accepts a student in need of financial assistance, the acceptance indicates the school's intention to provide that assistance.
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Now you may be asking: which admissions policy is best for me? While the answer may not be clear; both systems have pros and cons. According to The College Solution, need-blind schools often run into the issue of gapping: when certain groups of people do not receive the most optimal funding. This is because need-blind schools are not able to grant all of the optimal financial aid packages without massively stressing their budget.
On the other hand, need-aware schools can manage their applications to meet their bottom line while also providing a proper financial support package to all who need it. The drawback with this system is that the groups of students who tend to balance the line of acceptance and rejection now have financial ability calculated into their admission into the institution. This will ultimately favor those who can pay more tuition. Neither may be perfect, but both need-blind and need-aware systems were created in an attempt to best benefit the students and families involved in the application process.
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* Originally published on January 7, 2022, by Kelli Prange
