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I read threads from last year and multiple people were pulled from T20 WLs and given scholarships after May 1
True, but did they first send LOIs and then ask for the scholarships after receiving As that did not include one? OP seems to be asking about the ethics of first sending an LOI and then, if he gets a A, saying thanks, now I need money because I really can't justify paying full price to attend. On the other hand, I think it's understood that if he includes his desire for money in his LOI it will be DOA.

I'd love to hear any advice on this, since my instinct would be to not send the LOI, not CTE to the other school until the last possible moment, and see what happens since I already had an A with significant money.
 
Here’s my dilemma:

School A has kindly offered me a very large scholarship that almost covers tuition, definitely can’t turn it down.

I am on the waitlist at Columbia, and from what I’ve gathered, you essentially need to send a letter of intent to have a chance at making it off. The issue is, I wouldn’t choose Columbia if I had to pay 250k more to attend, so I don’t think it’s ethical to write a letter of intent if the cost of Columbia is set in stone. However, if there’s a chance that schools still match scholarships even when pulling off the waitlist, then I would consider sending in a letter of intent (I know it seems silly for a school to do this rather than just move on to the next WL applicant, but someone I know claims they were pulled off the Perelman waitlist and got them to match a very high merit scholarship).

I guess I’m just wondering if anyone has experience/knowledge on this matter, or advice on what I should do.

I would send a letter of interest (not intent) in that case. Gives you plenty of wiggle room if they don't pony up any cash, and doesn't look unethical if you stay with school A.

Maximizes effectiveness and minimizes risk.

Just one person's thoughts though,

David D, MD - USMLE and MCAT Tutor
Med School Tutors
 
Columbia scholarships are purely need based. If you have a low EFC and get pulled off, you can expect a significant amount of scholarship money. If you don’t qualify for need based aid, you probably won’t get scholarships at Columbia if you get pulled off.
 
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