How to Afford College: Scholarships, Financial Aid & More Part II

Understanding the distinction between need-blind and need-aware admissions, as well as various types of aid, is critical when developing a financially feasible college list.

Need-Blind vs. Need-Aware Admissions

• Need-Blind Admissions: In this process, a school does not consider a family's ability to pay when making an admission decision. Whether a student applies for aid or marks their intent to pay on an application remains independent of the final decision.

• Need-Aware Admissions: A majority of schools use this approach, where some consideration is given to a family's financial situation. The degree of impact varies; for some institutions, it may only influence final decisions for a small number of students.

Types of Aid

• Need-Based Aid: This aid is awarded based on a family's financial picture as assessed through forms like the FAFSA and the CSS Profile.

• Merit-Based Aid: Merit scholarships are awarded based on the strength of a student's admission application, including grades, test scores, extracurriculars, and writing samples. These can include full-tuition awards for significant community involvement or specific talents like athletics, music, or visual arts.

• Grants and Scholarships: Often referred to as "gift aid," these represent free money that does not need to be repaid.

• Work-Study: This program allows students to take on a reasonable work commitment to help earn money for college costs.

• Loans: These must be repaid and are generally considered a last resort. Borrowing should ideally not exceed a student's projected first-year salary.

When we work with families, we ensure that all families and students use College Aid Pro after building their college lists. This software allows families to input their financial information once to receive the net price for all schools on their list, as well as an estimation of merit scholarships the student may be eligible for based on their GPA and test scores.

At Barrier Breakers, we make this a requirement before a student begins the application process to ensure that every school on their list is "financially feasible". We also work with families in crafting specific plans on paying for each instituition. This is safer and wiser than assuming they will "figure it out later".

Colleges & Universities with full merit aid

Numerous top-tier universities offer full-merit scholarships that cover tuition, room, and board. Some examples include the Morehead Cain scholarship at UNC which one of our Barrier Breakers 2020 alum was a recipient of. The Robertson Scholars Program at Duke/UNC, the Stamps Scholarship offered at multiple schools, The University of Virginia Jefferson Scholars Foundation, and the Vanderbild University Ingram Scholars Program. These scholarship awards value academic excellence, leadership and community service.

Families should not simply assume that some schools are out of reach for their students, or opt for in-state options out of fear of the cost. Sydney Montgomery (Founder & Executive Director of Barrier Breakers) was the first person from her high school to go to Princeton University and Harvard Law School. Since then, Sydney has been guiding families and students on how to navigate college financial aid, and rebuild the economic mobility ladder for first-generation and low income students.