Daniel Barkowitz | August 27, 2005
"Myth #1: "On my Admissions application, I shouldn't say I plan on applying for financial aid""
I have to admit I was inspired by something I saw on Bryan's new blog (for those of you not in the know, Bryan is a new Admissions Officer here at MIT, and also the Director of Minority Recruitment).
In his blog, Bryan talks about whether or not you should list your minority status on your admissions application, and argues strongly that it adds context to your application.
I am going to address a different myth, but somewhat related: the myth that if you say you plan on applying for financial aid on your admissions application you will somehow be viewed differently when considered for Admission.
Unlike minority status (or anything else on your application), financial aid application status is not considered AT ALL when reviewing you for admissions at MIT. Our admissions programs are need-blind.
What exactly does need-blind mean? Need-blind is a shortcut expression which means that no consideration as to ability to pay is used when making the decision whether or not to admit a candidate to the institution.
Is MIT really need-blind for all of its populations? We are, and this sets MIT apart from many of its peers. We are need-blind for every population, domestic, international, transfers, waitlist (if we consider it), early action, etc. In no way does your families finances play any factor in your chances of being admitted.
So why are people reluctant to check that little box on the MIT admissions application that says "I plan on applying for financial aid"? Well, let's look at the state of need-blind admissions around the country and we might see a different picture emerge.
Most colleges around the country say that they are need-blind. While this may be true in the main, saying so doesn't mean that they are need-blind for all application sections (most colleges are not need-blind, for example, when it comes to international admissions).
There is also a perception (mostly wrong) that when it comes to borderline applicants colleges make their admissions decisions in light of who is going to cost them less (in other words, who can afford to pay for their own education). This is also not true.
But every year we see people delay starting their financial aid applications until after the admissions decision is received. A BIG MISTAKE. This causes them unnecessary stress and perhaps a problem with financing as they will not have a financial aid decision in time to make their admissions commitment.
Don't make this mistake!
So, does being need-blind mean that I will get all of the aid I need? At MIT (and, to be fair, at many of our peers) it does. Those institutions that are "full-need" meet the entire calculated need of each applicant with financial aid (in the form of grants/scholarships, loans and/or work awards).
Some colleges, however, practice what I call "merit-aware" financial aid (we are not one of these colleges). At these schools, your admissions status (i.e. how desirable you are to the school) is factored in when you are awarded financial aid. If you are a borderline candidate you may not be awarded a good financial aid package at a school who practices this, while if you are a highly desirable candidate, you may be showered with merit aid, or a great package (no loans, etc). Is this fair? We think not.
At MIT, we award each applicant on the basis of her personal financial circumstance. We are "merit-blind"; we know all of you are exceptional (or else you wouldn't be applying to MIT). Instead the primary criteria for us have everything to do with what you can afford.
In the coming weeks, I will be addressing other myths and realities about the financial aid process. Are there issues you would like to see addressed? Do you have any questions about what I discussed above?
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The author has filed this entry in the "The Freshman Application" section; check it out for further reading on this topic. |
Responses To This Entry:
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FIRST!!!
Hi Moneyman aka. I think MIT has unlimited Financial aid resources. that's why i am applying to MIT and you are right we are all exeptionals (heh).
Posted by: Ajymurat on August 27, 2005 09:25 PM
Where intellectual endeavour is concerned, money or other general-non-academic concerns should not be considered in admissions because it is a person's seminal right to seek knowledge and that it is a progressive attitude towards the betterment of a person as whole. All educational institutions should be inclusive, as much as it might be a business institution.
Posted by: Shikin on August 27, 2005 10:18 PM
Hi sir it was nice to know that in MIT there is no biasing on the basis of financial needs .Please inform whether international transfer students are also eligible for complete financial aids
Posted by: surbhi on August 30, 2005 11:56 PM
Surbhi: Straight from MyMIT:
"International students are eligible for financial aid. As with US citizens and permanent residents, we consider every student for admission without regard to his or her financial need. In other words, applying for financial aid will not hurt your chances of admission."
Best of luck!
- Timur
Posted by: Timur Sahin on September 3, 2005 02:13 PM
Ack, accidently didn't copy half of it. The rest:
"What's more, MIT is committed to providing all admitted students, including international students, with a financial aid package that fully meets their demonstrated need. More than two-thirds of MIT students receive some form of financial aid."
- Timur
Posted by: Timur Sahin on September 3, 2005 02:14 PM
i have just completed reading all four myths. needless to say, i am terrified of this financial aid process. and i am the parent. as soon as the timetables allow (CSS/FAFSA)i will begin the process. unfortunately on the opposite end of one of the comments "There is also a perception that when it comes to borderline applicants colleges make their admissions decisions in light of who is going to cost them less.", it will ultimately and possibly unfortunately dwindle the number of accepting schools down to those the students can afford, NOT which students will cost the schools less.
Posted by: alan blashka on September 24, 2005 02:55 PM
Thanks for the email and the comment.
I hope you will continue to check back on the blog as I do update regularly, and I hope that some of your terror eases with the information I will be providing... I recognize this is a scary timeframe, and my goal in keeping the blog is to dispel some of the terror!
Let me also clarify what I meant in the statement you quote. First, this is not an MIT practice at all, as we are need-blind for admissions, but for the small number of colleges that are need-based in their admissions processes, a significant component of their decision will include consideration as to how much expense the student represents. At those colleges (or for those subcategories of populations), the issue will be: 1) should they admit a student they cannot provide aid for? or 2) should they admit a student that can afford to attend? It is a sad truth that for this subset of schools (or populations), money does play a factor. The best advice I have for you is to ask the college about their practice up front. Colleges who are need-based for admission will say that (especially if asked) and then the decision factor for you and your family will be whether and how you stack up compared to other applicants. Remember, it is much more common for colleges to make need-based admissions decisions on subcategories of students (international applicants, waitlist, borderline admits, etc), so it may not be an issue for you at all.
I don't disagree with you that all of this pressure and maneuvering may ultimately lead to a perception that students should only apply to colleges they can afford. I am doing everything I can, however, to fight that perception. Imagine what a terrible world it would be if only people who could afford a college education could attend; I know my education would have suffered if that were the case. At MIT (and at many other colleges like us), we still believe that a college education belongs to those who demonstrate their readiness and ability to benefit from it, regardless of their personal financial circumstances.
Posted by: Daniel T. Barkowitz on September 26, 2005 09:01 AM
do the same financial aid checkpoints (needs based aid, needs blind admission) also apply to MIT graduate school admissions??...Thanks.
Rick
Posted by: rick on November 3, 2005 02:24 PM
