Letter of Intent=>less $?

[sendwich]

school X is my first choice so i'm thinking about sending in a letter of intent. but if accepted, is it possible to get less money (ie grants, scholarships) because one is accepted through the LOI or is financial aid and an acceptance totally separate?

can anyone comment on this?

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[JohnMadden]

I don't know for a fact, but it seems that the institution would have little incentive to give you any free money if you're obligated to go there. Are LOIs binding?

 

[BellyDancingDoc]

school X is my first choice so i'm thinking about sending in a letter of intent. but if accepted, is it possible to get less money (ie grants, scholarships) because one is accepted through the LOI or is financial aid and an acceptance totally separate?

can anyone comment on this?

I can see a theoretical possibility for something like this. After all, why would a school give you a bunch of $ to come when it knows that you'll matriculate at the sticker price? After all, there are limits to the amount of grant money available, and schools will naturally want to apportion it carefully.

Also, I should think that you'd be limiting yourself in terms of your capacity to "wheel and deal." That is, if Med School X gives you a scholarship, you would normally then call Med School Y (your top choice) and say, "I really want to go to your school, but another med school is giving me $$$. Can you match it?"

However, if Med School Y has a signed letter from you stating that you'll withdraw all of your other applications if Y accepts you, you may get yourself into a bit of trouble... or at least raise serious questions about your integrity...

 

[sendwich]

correct me if i'm wrong but yes, LOIs (intent) are technically binding.

don't some schools have grants that are need-based?

 

[cubbbie]

Hang on ...

Letters of intent are meant to get you off a waitlist, right? Or even if it's pre-decision, you would only really send one if you're not the best candidate and you want to get a leg up.

If you're such a hot candidate that the school might throw money at you, I don't see why you would write a LOI.