When to leverage tuition/financial aid package?

[deleted1017749]

I've narrowed down my choices to two schools that I'm interested in. I'm wondering when it was a good time to leverage tuition. At School 1 (state school) I received an almost full tuition scholarship, but truthfully I'd prefer to attend School 2. Is the scholarship at the state school something I should mention before receiving a financial aid package to School 2 or afterwards? Does anyone have advice on how to present the information to try to get a better package from School 2? Thanks!

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[proudofmykids]

I don’t have definitive answer. I’d be inclined to wait for their initial offer. Otherwise you are setting a goal and they might have gone higher.

 

[candbgirl]

You really don’t have anything to leverage at this point. You don’t have any idea what school 2 will offer. And will school 2 consider it a coup to snatch you away from your state school? Maybe, maybe not. So I’d wait to see what happens.

 

[KnightDoc]

You really don’t have anything to leverage at this point. You don’t have any idea what school 2 will offer. And will school 2 consider it a coup to snatch you away from your state school? Maybe, maybe not. So I’d wait to see what happens.

This^^^^. It never hurts to try, but I wouldn't get my hopes up. State schools are less expensive because they receive state subsidies that private schools don't. The money to provide tuition discounts has to come from somewhere, and, if private schools matching IS public school tuition was widespread, public schools wouldn't be so popular, and private school tuition wouldn't be so high (i.e., if this was widespread, private schools would just raise tons of money to subsidize tuition for everyone (like NYU did), rather than play the game you want to play with every admitted candidate who wasn't receiving a need-based grant and had an IS public school acceptance to leverage).

Of course, there are exceptions to every rule, so you should definitely try, but my expectation would be that you'd have the most luck asking for a match to a similarly ranked private school. Good luck!!!!

 

[over]

This^^^^. It never hurts to try, but I wouldn't get my hopes up. State schools are less expensive because they receive state subsidies that private schools don't. The money to provide tuition discounts has to come from somewhere, and, if private schools matching IS public school tuition was widespread, public schools wouldn't be so popular, and private school tuition wouldn't be so high (i.e., if this was widespread, private schools would just raise tons of money to subsidize tuition for everyone (like NYU did), rather than play the game you want to play with every admitted candidate who wasn't receiving a need-based grant and had an IS public school acceptance to leverage).

Of course, there are exceptions to every rule, so you should definitely try, but my expectation would be that you'd have the most luck asking for a match to a similarly ranked private school. Good luck!!!!

I always thought the state school is cheaper on the price tag, but private are the ones giving huge aids.

 

[KnightDoc]

I always thought the state school is cheaper on the price tag, but private are the ones giving huge aids.

Sometimes. It depends on the school. If it's need-based, and the school has a robust financial aid program, it will come without you needing to ask. But, after you receive your notification, if you are ineligible, or if it's all loans, many people try to negotiate, using scholarships (either need or merit) from other schools as leverage.

Sometimes it works and sometimes it doesn't. It is most effective when comparing peer schools (T20 to T20, T10 to T10, private to private, etc.). Public IS schools will always be less expensive than private (before fin aid), and, if private schools were inclined to match public, they'd just lower their tuition rather than negotiate with each and every person holding an IS public acceptance that asked them to do so.

YMMV, and everyone seems to have an example of something that worked for them, somewhere, but, in general, private schools that aren't already giving someone a significant merit based grant don't suddenly shower money on candidates that hold an IS public school acceptance. This is the very reason why a lot of really strong applicants end up attending their IS public schools, rather than higher ranked, but much more expensive, private schools to which they've been accepted.

 

[akg0119]

Hi, I'm in a similar position and wanted to ask your advice. I am choosing between two T10 schools, school A gave me no aid and school B gave me nearly a full ride, but before I got the aid packages I was heavily leaning towards school A. Is it appropriate for me to go to school A and see if there's any more aid that's possible? If yes, do I go to the financial aid office or reach out to the director of admissions?

 

[KnightDoc]

Hi, I'm in a similar position and wanted to ask your advice. I am choosing between two T10 schools, school A gave me no aid and school B gave me nearly a full ride, but before I got the aid packages I was heavily leaning towards school A. Is it appropriate for me to go to school A and see if there's any more aid that's possible? If yes, do I go to the financial aid office or reach out to the director of admissions?

ABSOLUTELY!!!!! If the full ride is need based you'll want to go to the fin aid office. Otherwise, it's not fin aid, and you'll want to go through admissions.

Just be aware that different schools have different budgets and different priorities on who they want to bring into their classes, so if money is important (and, between two T10s, there is no reason it shouldn't be!), be prepared to start heavily leaning towards school B. Some schools match while others don't, and all schools that match do so for some people and not for others.

There is no general rule. All you can do is try, and then make whatever decision makes the most sense for you. That's exactly what the schools do.