Need-Based vs Merit Aid: Key Differences
| Feature | Need-Based Aid | Merit Aid |
|---|---|---|
| Based On | Family income/assets | Achievements (grades, talents) |
| Application | FAFSA, CSS Profile | Often automatic or separate app |
| Amount | Varies by family situation | Fixed amounts or percentages |
| Availability | Most schools | Many schools (not Ivy League) |
| Renewal | Annual FAFSA required | Usually requires maintaining GPA |
Maximizing Your Aid
For Need-Based Aid:
- File FAFSA on October 1
- Complete CSS Profile for private schools
- Apply to schools that meet full demonstrated need
For Merit Aid:
- Apply to schools where you're in top 25% of applicants
- Research automatic merit scholarships
- Apply to scholarship-specific programs