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Financial aid

  is Financial aid, isn't it? How much dough you get from a College or university depends on how much the federal government says you need, right? Then again, what if you work your butt off academically through high school ... just as hard as that star quarterback worked on the field to get his full athletic scholarship? No matter how hefty your parents' bank account, don't you, too, deserve a shot at tuition big bucks? Is it fair? Those in favor cry out that students who have demonstrated academic excellence should be rewarded based on their hard work. Then again, say those in opposition, who is monitoring these rewards to make sure they remain "on the level" and don't deduct from the aid available for needy students?

"Regarding college promotion and recruitment, we require that colleges provide the most comprehensive information, up front, about cost of attendance and opportunity for financial aid, and describe any special programs for assistance," says Mark Cannon, former deputy executive director of the National Association for College Admission Counseling (NACAC). The organization's Statement of Principals of Good Practice (SPGP) was, in fact, designed for that very purpose--to ensure fairness in the college admissions and financial aid arenas. For the most part, says Cannon, reports of cases where colleges go overboard with lures of "attend-our-college" awards are highly exaggerated. He believes that the wide majority of college admissions officials consists of "professionals adhering to a high code of ethics."

In some cases, of course, even these even-handed financial aid award offers affect the overall selection process. After all, enticing scholarship offers are often just too good to pass up. Most of the time, such academic accolades and recruitment rewards end up being the deciding factor in a student's college choice.

Student rewards
"It had an effect on my daughter's decision, because of the self-esteem issue," says John Trovato, father of 18-year-old Jennifer, who was awarded a $7,500 per year scholarship to attend Muhlenberg College.

Though financial aid was not an issue for the Trovato family, the award was certainly a nice incentive for Jennifer to choose the Allegheny, PA, college. And it isn't difficult to see why she was chosen as an award recipient. Her 3.8 GPA and the list of her academic and athletic achievements (she's a cross-country runner) are quite impressive. Jennifer was offered the financial aid award as part of an early college admission deal, and committed to the college last fall.

Being rewarded for academic excellence is not a new concept. The National Merit Scholarship Program, for example, is a privately financed academic competition for recognition and scholarships that began in 1955. High school students enter the program by taking the PSAT/NMSQT, and by meeting published entry/participation requirements.

Students and their families benefiting from merit reward programs believe it is a valid and deserved form of financial aid. "I think kids who have worked hard through their high school careers to prepare for college deserve to be rewarded," says Trovato. "The merit is warranted and excellent."

Will the money run out?
In an American Demographics article, author Marc Speigler comments that the experience of selecting a college has transformed into a consumer choice.

"Issues like 'value for dollar' and 'rankings' are now the norm," he explains. "Likewise, the issue of paying for college now resembles 'real-world' salary negotiations, complete with signing bonuses and flurrying counteroffers."

The article also says that many schools find themselves in the same spot as airlines: selling seats at any price to avoid operating below full capacity. "Every empty desk in a classroom or an unused Dorm room represents another step toward running at a loss," says Speigler.

Reality check: no company--be it a restaurant, hotel, or college--wants to operate below full capacity. And, they want all of their spaces filled with quality people. In order to find such quality, it's clear to see why many colleges have placed importance on recruiting techniques that target particularly top-notch students. But what about those students who are not hand-picked and presented with enticing offers? How do they pinpoint the school best suited for their particular needs?

Remember this: When fishing around for the right school, be wary of baiting tactics. Your ultimate decision should take your own needs into account. Regardless of need, various financial aid awards are available to you regardless of your parents' bank accounts or your GPA ... they just don't always come knocking on your door. Sometimes, you have to recruit your own financial aid opportunities.

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