Which Universities Award Merit Aid Most Frequently?

Deploying merit aid is an interesting strategy. Which universities use merit aid a lot?

Another phrase for tuition discounting is “merit aid.” Above are the universites that, on a percentage basis, most frequently award merit aid.

The formula (using IPEDS SFA tables)

For families with earnings too-high to qualify for need-based federal financial aid, but too low to afford $50-$70k of annual tuition, merit aid is appealing.

We can measure which private nonprofits award merit aid most frequently:

1. We calculate full-time first-time (FTFT) undergraduate enrollment from the ANYAIDN and ANYAIDP variables. If ANYAIDP = 50% and ANYAIDN = 100, the FTFT pool is 100/0.50 = 200.
2. Next we subtract out the tuition full-payers. If ANYAIDP = 50%, then the full-payer pool is (1-ANYAIDP) = 50%. So 50% * 200 = 100 full-payers. 200 (FTFT pool) - 100 (full payers) = 100 paying something.
3. Finally, we subtract out the sum of students from families earnings $0 - $110k. These students are captured by IPEDS variables GRN4G12, GRN4G22, GRN4G32, and GRN4G42. Those students are primarily receiving need-based financial aid.
4. Our formula is now: [100 paying something - (GRN4G12+GRN4G22+GRN4G32+GRN) = # merit aid]
5. We want it in percentage terms, so we use # merit aid / FTFT pool