Merit Awards vs. Financial Aid

Many families assume that a merit scholarship offered at admission is just the beginning—but in many cases, that award may be the final offer.

For Early Action admits, schools often release a merit award first, with the full financial aid package arriving weeks or even months later. Whether additional funding appears depends largely on family income and the type of institution.

At many selective private colleges, Predominantly White Institutions (PWIs) may later include need-based aid—but only for families below certain income thresholds. Households earning above roughly $90,000–$100,000 should not expect additional need-based assistance at most selective private schools.

For many HBCUs and public institutions, the merit award is typically the only institutional aid offered, with few or no need-based funds added later.

The key takeaway: sometimes more aid is coming—but sometimes the merit award is truly it. Families should plan early, understand how income affects aid eligibility, and carefully compare total costs before making decisions.

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