Multiple acceptances to negotiate fin aid

[brockhamptonfanacct]

I know this topic has been discussed before, but I haven't seen a definitive consensus on what people think.

Is it acceptable to reach out to a school and mention your other acceptances in hopes of negotiating more financial aid? Also, does this apply even if the other schools haven't necessarily given you financial aid packages, they just generally have cheaper tuition than the other school? Any idea of when is best to write this letter?

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[Goro]

Depends upon which schools you've been accepted to.

 

[deleted1130967]

Depends upon which schools you've been accepted to.

Is need-based financial aid entirely dependent on need, or are other factors considered? Wouldn’t it look bad for the university to treat students of the same socioeconomic status differently depending on which school they are trying to use as leverage?

 

[KnightDoc]

Is need-based financial aid entirely dependent on need, or are other factors considered? Wouldn’t it look bad for the university to treat students of the same socioeconomic status differently depending on which school they are trying to use as leverage?

Every school does its own thing, and every applicant is unique. There is no requirement that everyone in any given SES be treated the same, and they aren't!

The primary inputs are financial need and how much the school wants you, not so much which school you are trying to use as leverage. A low SES rock star is going to be treated differently than a low SES applicant who was lucky to get the acceptance.

Financial aid offers are supposed to be confidential, so there is no "looking bad" here. Schools are not obligated to offer anyone anything, and none of them apologize for wanting some candidates more than others, and using money as an inducement to get them to enroll. Anyone unhappy with their fin aid is always free to take their business elsewhere, as many people do each cycle. In a sellers' market where every school, even CNU, has far more applicants than available seats, school really don't care about how things look to anyone unhappy with their final aid package.

Schools can basically give tuition discounts (which is really what scholarships or grants are) however they see fit. Car dealers similarly are not required to sell the same car at the same price to different customers with the same SES. And before anyone gets offended at the comparison of med school admissions offices to car dealers, they should stop and consider how many schools treat their applicants, particularly those they are not interested in.

 

[Goro]

Is need-based financial aid entirely dependent on need, or are other factors considered? Wouldn’t it look bad for the university to treat students of the same socioeconomic status differently depending on which school they are trying to use as leverage?

Outside my knowledge base, alas.

Wise @gonnif, thoughts?

 

[jhmmd]

Is need-based financial aid entirely dependent on need, or are other factors considered? Wouldn’t it look bad for the university to treat students of the same socioeconomic status differently depending on which school they are trying to use as leverage?

Well I mean it depends on what you say and your relationship to the school. I wouldn't try to "leverage for more financial aid" with any particular school, TBH. If you get into med school, that means that the adcom (and other people) think that you can do it. That means that your MCAT score, GPA etc. predicts your Step 1 score, your Step 2 score, etc. To get to the point, if you are admitted, you will probably finish residency one day and become a practicing doc. And that means that you will pay off your loans. It will not matter 5 years after you graduate. Docs make bank.

I wouldn't risk stepping on anyone's toes fighting for scraps of financial aid. I also wouldn't reach out to people that you aren't on a first-name basis with at said school. But who knows.

 

[brockhamptonfanacct]

Depends upon which schools you've been accepted to.

They are all relatively similarly ranked.

 

[Goro]

They are all relatively similarly ranked.

There's a difference between Drexel/Albany class schools and the Harvard/Stanford class.

It all depends upon how much of a catch you are.

 

[voxveritatisetlucis]

I don’t even know whether multiple acceptances is necessary for merit aid or how much it can sweeten a package. I only have two acceptances but got half off merit aid at one of the schools. I think ot may be more of a fit thing.

 

[jhmmd]

I don’t even know whether multiple acceptances is necessary for merit aid or how much it can sweeten a package. I only have two acceptances but got half off merit aid at one of the schools. I think ot may be more of a fit thing.

Is this a good thing?

 

[KnightDoc]

Is this a good thing?

Is there any world where half off anything isn't a good thing?

 

[voxveritatisetlucis]

Is this a good thing?

I really wasn’t expecting anything so it was good (for me). I know I wasn’t competitive anymore for the full tuition offers. In a past world, I probably would’ve been able to get full tuition or maybe even full COA but the red flag on my app made me not as competitive for both admission and fin aid

 

[jhmmd]

Is there any world where half off anything isn't a good thing?

BOGO

 

[jhmmd]

I really wasn’t expecting anything so it was good (for me). I know I wasn’t competitive anymore for the full tuition offers. In a past world, I probably would’ve been able to get full tuition or maybe even full COA but the red flag on my app made me not as competitive for both admission and fin aid

Eh we are all gonna be doctors one day so who cares about the tuition????

 

[KnightDoc]

BOGO

I don't know about you, but I'd always rather have half off of one as opposed to having to pay full price for one in order to get another for free. Especially with a 4 year MD.

 

[jhmmd]

I don't know about you, but I'd always rather have half off of one as opposed to having to pay full price for one in order to get another for free. Especially with a 4 year MD.

 

[KnightDoc]

Eh we are all gonna be doctors one day so who cares about the tuition????

In the scheme of things you are definitely correct but, all things being equal, I'd rather have every possible dollar staying with me than going to the government to repay a loan, with accrued interest.

 

[jhmmd]

In the scheme of things you are definitely correct but, all things being equal, I'd rather have every possible dollar staying with me than going to the government to repay a loan, with accrued interest.

Yeah yeah

 

[Mr.Smile12]

I don't know if there is a perfect way to do this negotiating but you have to know what you want to get from them that is gong to be a win-win. Every person's situation is different so you won't get a consensus on this.

Eventually schools will find out if you have offers elsewhere. For the most part, negotiating just to get more scholarship money is futile. You probably got a scholarship based on specific criteria that meets a demographic need or mission fit. Sometimes the money is restricted and you can't get more. In the end the schools realize you are highly desirable and want to keep you to meet a goal. Telling them that you have other scholarships or offers only affirms this, so they probably can't give you more unless you justify it.

So what makes you worth the additional thousands of grant dollars you want? Would you be fine with their help to get money while you are a student and PASSING YOUR CLASSES? Financial aid can come during your education, and you will be encouraged to keep looking while you are a student.

 

[Ganon]

To get to the point, if you are admitted, you will probably finish residency one day and become a practicing doc. And that means that you will pay off your loans. It will not matter 5 years after you graduate. Docs make bank.

I wouldn't risk stepping on anyone's toes fighting for scraps of financial aid. I also wouldn't reach out to people that you aren't on a first-name basis with at said school. But who knows.

I believe everyone is entitled to their opinion, but I disagree with this mentality *entirely.*

I applied for every scrap I could get. I fought tooth and nail to chip away at that initial cost, because under federal interest each dollar costly, and the lower the initial hit the better you are in the long run.

I am done with med school and matched, and have 0 regrets regarding my financial status.

These topics don’t get enough attention in school, and honestly by the time you are in college it’s likely too late.

 

[CantFindMeNowAdcoms]

I know this topic has been discussed before, but I haven't seen a definitive consensus on what people think.

Is it acceptable to reach out to a school and mention your other acceptances in hopes of negotiating more financial aid? Also, does this apply even if the other schools haven't necessarily given you financial aid packages, they just generally have cheaper tuition than the other school? Any idea of when is best to write this letter?

I agree with some others that asking and negotiating is fine. I will say that I’ve actually had certain schools explicitly tell the class that they do not negotiate scholarship findings or match other school’s offers. So obviously don’t ask if they’ve already told you they don’t.

 

[brockhamptonfanacct]

I believe everyone is entitled to their opinion, but I disagree with this mentality *entirely.*

I applied for every scrap I could get. I fought tooth and nail to chip away at that initial cost, because under federal interest each dollar costly, and the lower the initial hit the better you are in the long run.

I am done with med school and matched, and have 0 regrets regarding my financial status.

These topics don’t get enough attention in school, and honestly by the time you are in college it’s likely too late.

In addition to this this (and the points others have made, which I agree with), less debt gives me freedom to practice the FQHC FM I want to.

 

[proudofmykids]

If school A gave your 1/2 tuition merit aid, and school B nothing, how likely would it be that you would attend school B over schools A? If highly likely, then I suggest sending a ot to the dean of admissions and financial aid office indicating you received the 1/2 tuition merit from a similarly ranked school, but would prefer to attend school B if they could reconsider making a merit aid offer to you.

Notice I didn’t indicate the amount school B would need to offer as you don’t want to restrict or narrow what they might be able to do.

 

[brockhamptonfanacct]

If school A gave your 1/2 tuition merit aid, and school B nothing, how likely would it be that you would attend school B over schools A? If highly likely, then I suggest sending a ot to the dean of admissions and financial aid office indicating you received the 1/2 tuition merit from a similarly ranked school, but would prefer to attend school B if they could reconsider making a merit aid offer to you.

Notice I didn’t indicate the amount school B would need to offer as you don’t want to restrict or narrow what they might be able to do.

It would be highly likely. However, I haven't received 1/2 tuition anywhere; it's just that some tuition is cheaper than another school's (which is known for egregiously high tuition).

 

[KnightDoc]

It would be highly likely. However, I haven't received 1/2 tuition anywhere; it's just that some tuition is cheaper than another school's (which is known for egregiously high tuition).

Bottom line -- there is no reason not to take your shot, but don't expect too much. Believe me, schools know what other schools charge. Everyone has their own revenue streams, their own endowments, and their own budgets that need to be funded. If the school with the high tuition desired to discount it for everyone with a less expensive option, they would just charge less in the first place.

Private schools just don't compete on price with IS public ones, because the public schools receive public subsidies that private schools don't. Beyond that, most private schools are within $5-10K of each other, so, in the scheme of things, it's hardly worth bothering if that's the gap you are trying to close. If the private school you prefer costs way more than other private peers, they likely want their money and are unlikely to discount.

As other have either said or implied, there is no magic to how or when you ask. If you are someone they really want, they will give you something if they have a budget to do so. If you are easily replaceable by someone not looking for a discount, they will make that clear to you, and then you will have a decision to make.

It's not any more complicated than that, and there is no magic phrase that will yield funding you would not otherwise receive. We all want to pay as little as possible. Only the most elite among us actually achieve that. And that's why people bitching about how much med school costs is a thing!

 

[brockhamptonfanacct]

Bottom line -- there is no reason not to take your shot, but don't expect too much. Believe me, schools know what other schools charge. Everyone has their own revenue streams, their own endowments, and their own budgets that need to be funded. If the school with the high tuition desired to discount it for everyone with a less expensive option, they would just charge less in the first place.

Private schools just don't compete on price with IS public ones, because the public schools receive public subsidies that private schools don't. Beyond that, most private schools are within $5-10K of each other, so, in the scheme of things, it's hardly worth bothering if that's the gap you are trying to close. If the private school you prefer costs way more than other private peers, they likely want their money and are unlikely to discount.

As other have either said or implied, there is no magic to how or when you ask. If you are someone they really want, they will give you something if they have a budget to do so. If you are easily replaceable by someone not looking for a discount, they will make that clear to you, and then you will have a decision to make.

It's not any more complicated than that, and there is no magic phrase that will yield funding you would not otherwise receive. We all want to pay as little as possible. Only the most elite among us actually achieve that. And that's why people bitching about how much med school costs is a thing!

Definitely -- if it were a $5 or $10k gap I wouldn't even bother. Unfortunately the gap is a lot bigger and is my only deterrent, because I truly loved the school. I'll probably shoot my shot but not expect too much, as you said. Blessed to be in such a position anyway, I could have only dreamed of such a scenario before the app cycle began!

And thank you to all others who contributed as well!

 

[TheGranolaKing]

n = 1 but I tried to do this at all of acceptances and it worked at one of the four (received a merit scholarship to bring costs equal to a cheaper, relatively similar school), although it's probably important to note that my stats were decently above average for this school. The other three basically said no in a nice way.

 

[deleted1129181]

If we are talking very high ranking medical schools, then it depends on what kind of diversity you provide. Even though you may have other acceptances, they too have other very highly qualified applicants, and pretty much every single top medical school will have zero difficulty finding a qualified applicant from the waitlist if they need to fill a seat last minute. Med schools don't throw money around just for the sake of poaching med students from other schools.

 

[proudofmykids]

If we are talking very high ranking medical schools, then it depends on what kind of diversity you provide. Even though you may have other acceptances, they too have other very highly qualified applicants, and pretty much every single top medical school will have zero difficulty finding a qualified applicant from the waitlist if they need to fill a seat last minute. Med schools don't throw money around just for the sake of poaching med students from other schools.

Just to add N=1… my kid, without bringing special diversity, did have success negotiating with T5, T10, and T20 schools, not all, but many, and very late in the cycle. So there is always hope.

 

[brockhamptonfanacct]

Just to add N=1… my kid, without bringing special diversity, did have success negotiating with T5, T10, and T20 schools, not all, but many, and very late in the cycle. So there is always hope.

Any tips on how your kid did that? Thank you