If Schools Accept You From Waitlist, Do They Match Financial Aid?

[slippydubloons]

Say, post-May 1 you're set to matriculate at school A, and they've offered you a decent FA package (estimate at 200K COA for this example). Now, let's say you get accepted to School B off the WL, and School B would have probably been like 250K COA for you if you had been accepted straight up.

If accepted from WL, do schools ask for your financial info from the school you're currently holding an acceptance at before they give you a new award? If so, would they be willing to give you more money than you may have received initially to match?

My gut says no, but I'm interested to hear what more experienced people have to say.

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[efle]

Most schools won't even price-match for a straight admit, let alone for someone pulled off the waitlist

 

[differentiating]

They definitely don't ask. If you filled out finaid forms before being pulled they might give you your estimated package, but they're not going to care what the other school has or hasn't given you.

 

[redferrari]

No, because there's plenty of other people on the waitlist for whom they wouldn't have that problem. If you're on the waitlist, they didn't deem you too special to begin with. Putting it into simpler terms, are you going to go after the girl/guy you previously deemed to be choice B harder than the one you deemed to be choice A, but decided to be with somebody else? Of course not.

Not meaning to be rude, just honest. And even though I said you weren't special, the fact that you have an acceptance already says that you are, because most people have zero.

 

[slippydubloons]

Most schools won't even price-match for a straight admit, let alone for someone pulled off the waitlist

I agree to a point, but from the experience of "my friend" (😉), my friend has gotten multiple schools to budge fairly to bring cost down a non-insignificant amount.

 

[slippydubloons]

To expand further, they are under no obligation to provide any financial aid info prior to you having to accept or decline their offer.. See below for some details:

--Prior to April 30th, schools should give you two weeks to decide before requiring refundable deposit.
--After April 30, they need to give you 5 days, dropping to 2 days if within 30 days of that school's orientation.
--Most schools follow the 5 day rule post April 30th. That is, if you get a offer April 28th, expect May 5th to be expected reply to school
--You may hold as many waitlists as you want and can change without deposit penalty
--No school is required to give you Financial Aid info prior to your decision. Several schools I have dealt with will not produce Financial Aid until you have given a decision (why work on something that may not be needed)
--If you call a school (or both schools if having two offers) you can ask if they will hold until Financial Aid is ready but you have to call both.
--If you get a waitlist acceptance after April 30, the new school has to inform the existing school prior to informing you
--If you get a waitlist acceptance, the 5 day rule applies to both old and new school. Do not assume you have safe acceptance without acting
--So while all these rules are in place, most schools do not rush to enforce them However, they can and your acceptance can be rescinded without recourse
--You can always call both schools to ask if any questions, concerns, or requests for additional decision time. Doesnt hurt to ask

Thank you for this, this is quite useful information to have 🙂

 

[slippydubloons]

No, because there's plenty of other people on the waitlist for whom they wouldn't have that problem. If you're on the waitlist, they didn't deem you too special to begin with. Putting it into simpler terms, are you going to go after the girl/guy you previously deemed to be choice B harder than the one you deemed to be choice A, but decided to be with somebody else? Of course not.

Not meaning to be rude, just honest. And even though I said you weren't special, the fact that you have an acceptance already says that you are, because most people have zero.

I completely understand, and I definitely don't take any offense to the statement BUT a number of the schools I got WL at are notorious for WLing tons of people and wanting LOIs from candidates so that's why I thought there might have been a chance, if I were to send a LOI and get off the WL then maybe they'd give me "good" aid

 

[efle]

I agree to a point, but from the experience of "my friend" (😉), my friend has gotten multiple schools to budge fairly to bring cost down a non-insignificant amount.

Using merit $? Or like they got them to re-calculate their need and it came back as greater need?

 

[slippydubloons]

Using merit $? Or like they got them to re-calculate their need and it came back as greater need?

merit

 

[RogueBanana]

To expand further, they are under no obligation to provide any financial aid info prior to you having to accept or decline their offer.. See below for some details:

--Prior to April 30th, schools should give you two weeks to decide before requiring refundable deposit.
--After April 30, they need to give you 5 days, dropping to 2 days if within 30 days of that school's orientation.
--Most schools follow the 5 day rule post April 30th. That is, if you get a offer April 28th, expect May 5th to be expected reply to school
--You may hold as many waitlists as you want and can change without deposit penalty
--No school is required to give you Financial Aid info prior to your decision. Several schools I have dealt with will not produce Financial Aid until you have given a decision (why work on something that may not be needed)
--If you call a school (or both schools if having two offers) you can ask if they will hold until Financial Aid is ready but you have to call both.
--If you get a waitlist acceptance after April 30, the new school has to inform the existing school prior to informing you
--If you get a waitlist acceptance, the 5 day rule applies to both old and new school. Do not assume you have safe acceptance without acting
--So while all these rules are in place, most schools do not rush to enforce them However, they can and your acceptance can be rescinded without recourse
--You can always call both schools to ask if any questions, concerns, or requests for additional decision time. Doesnt hurt to ask

When you say that both the old and the new school follow the 5 day rule, does that mean we have to notify our currently held acceptance that we intend to stay?

For example, if I get off of the waitlist at X School, but I want to keep my current acceptance at Y school, do I have to notify both? What is the procedure for turning down the waitlist acceptance, an email to admissions or simply taking no action?