Before applying to colleges and universities, it’s important to know that some schools have different policies when it comes to taking a student’s financial information into consideration during admissions. To help you understand what these policies are, known as need-blind and need-aware, we break them down for you! 

How do colleges determine financial need?

Colleges access students' financial information through the Free Application for Federal Student Aid (FAFSA), state aid application, or the CSS Profile. On these applications, you will list your family’s size, income, and asset information to help the federal government and your college determine the right amount of aid for you. Regardless of your family’s financial situation, we highly recommend completing the FAFSA or your state’s application to receive the most amount of financial aid possible for college! 

Need-blind

A need-blind admissions policy means that colleges will not take a student’s financial situation into consideration when making an admissions decision. There are a little over 100 colleges in the U.S. that have need-blind admissions policies. Need-blind colleges are typically elite schools that have the financial means to approach admissions in this way. Examples of need-blind colleges include Harvard University and Brown University. 

It’s important to know that just because a college has a need-blind admission policy, it does not mean they will automatically give you a financial aid package that covers all of your costs. Need-blind is only for admissions purposes. 

Need-aware

Need-aware means that colleges may or will take a student’s financial information into consideration when making an admissions decision. Every college handles this differently. A need-aware admissions policy can make a difference for students whose application may not be as competitive. If a school has this policy, a student’s financial need might be taken into consideration for an admissions decision.

Meeting financial need

Now that you know the difference between need-blind and need-aware admissions, be sure to research the financial aid policies of schools you’re interested in before applying. If a college says they will “meet demonstrated financial need,” it means that they’ll ensure your financial aid package reflects your demonstrated need. 

For example, if the total cost of attendance for a school is $20k per year, and the school determines that your family can contribute $5k to your education, it will offer you a financial aid package that makes up for that needed $15k. For example, the Husky Promise at the University of Washington guarantees that full tuition and fees will be covered by grants or scholarships for income eligible Washington state students. 

If you are set on attending a specific college but have some concerns about affording it, be sure to apply for scholarships early to help offset any educational costs that may not be covered by financial aid. 

Financial questions to consider when researching colleges 

• What is this school’s admissions policy concerning financial need?
• Does this college meet full financial need? 
• What financial aid options are available to students?
• Does this college award merit and need-based aid and scholarships? 

Strategies to maximize your financial aid

• Apply to a mix of need-blind and need-aware schools. 
• Research promise programs in your area to see if any colleges near you offer free or reduced tuition programs. 
• Apply for different forms of financial aid (FAFSA, state aid, CSS Profile, and scholarships).
• Apply to scholarships year-round!  

Do you have any questions about applying to or attending college? Connect with a Get Schooled Advisor.