College Planning

If you’ve got a senior at home, chances are the phrase “Early Decision” has already come up at your kitchen table — probably attached to a specific school your child has decided is “the one.” And I get it. There’s something appealing about the idea of being done with the whole admissions ordeal by December instead of April.

But here’s the question I ask every family who brings this up in a planning meeting: are you choosing Early Decision because it’s the right financial move, or because it feels like the fastest way to end the stress?

Those are two very different reasons — and only one of them holds up once real numbers are on the table.

What Early Decision Actually Commits You To

Early Decision (ED) is a binding agreement. Apply, get in, and you’ve committed to attend — full stop. You withdraw every other application, and you show up in the fall.

Most schools run this on one of two timelines:

• ED I: application deadline in early-to-mid November, decisions typically arrive in mid-December
• ED II: deadline in early January, decisions in February — a good option for students who didn’t apply ED I or who want a second binding shot at a different school

Early Action (EA), by contrast, gets confused with ED constantly, but it’s a completely different commitment level — EA is non-binding. You get an early answer, but you keep every option (and every financial aid offer) on the table.

Worth double-checking which one your child’s target schools actually offer, because the two get used interchangeably in casual conversation and they are not interchangeable at all.

The Real Trade-Off: Admissions Edge vs. Negotiating Power

Here’s what makes ED genuinely tempting: at most selective schools, Common Data Set filings show ED acceptance rates running two to three times higher than regular decision.

Colleges love ED because it gives them a locked-in yield — no guessing whether an admitted student will actually enroll. In exchange, they’re often more generous with that admissions decision.

But think about what you’re giving up to get that edge. When you apply ED, you commit to attend before you see a single financial aid award. You can’t compare packages. You can’t call a competing school and say, “They offered us more — can you match it?” You’ve taken away your own leverage at the exact moment you’d normally have the most.

For a family paying full freight without blinking, that trade-off is a non-issue. For most families I work with, it’s the whole ball game.

Before Anyone Signs an ED Agreement, Run the Numbers

This is the piece I really want you to take away from this: ED is an admissions tool that works best when you already know, with real confidence, that the school is financially workable for your family. Not hopeful. Confident.

Before your child submits that application, walk through this checklist together:

• Run the school’s net price calculator with your actual numbers — real income, real assets, not rough estimates. Every school’s NPC lives on its financial aid website, and it takes fifteen minutes.
• Call the financial aid office directly and ask how they typically treat a family in your income and asset range. Financial aid officers field this question constantly; it’s not an awkward call to make.
• Confirm whether the school meets 100% of demonstrated need — and if it doesn’t, ask what the gap tends to look like in practice, not just in theory.
• Have an honest conversation about merit aid. If your child is the kind of applicant who’d likely land significant merit money at a slightly-less-selective school, ED at a need-only school means walking away from that comparison entirely.

In my experience, the families who regret an ED decision are almost never the ones who ran these numbers first and came up short anyway — they’re the ones who skipped the math because the excitement of “getting in” took over the room.

The “Escape Clause” Isn’t the Safety Net You Think It Is

Every ED agreement includes language allowing withdrawal if the financial aid offered makes attendance genuinely impossible. That’s real, and it exists for exactly this reason.

But don’t treat it as a backup plan. The school decides whether your circumstances qualify, and that’s a subjective call made by an institution that has every incentive to see it your way as little as possible.

If you do end up needing it, document your numbers clearly, appeal to the financial aid office first before formally withdrawing, and go in prepared — but don’t apply ED assuming you can quietly opt out later if the number is a little higher than you’d hoped. “A little higher than hoped” almost never clears the bar. “Genuinely cannot pay” sometimes does.

Who Should Think Twice

ED tends to be the riskiest financial decision for a specific group: families in that broad middle-income range (roughly $75,000–$200,000 in household income) who are neither eligible for the most generous need-based aid nor advantaged by a strategy built entirely around merit scholarships elsewhere.

If that’s your household, and your child is choosing between an ED reach school and other options that might offer real merit money, that’s a conversation worth having before November — not after an acceptance letter shows up.

The Bottom Line

Early Decision isn’t wrong. For the right family — one who’s done the math, run the net price calculators, and can comfortably say yes regardless of what the aid letter says — it can genuinely be the smoothest path through senior year. But it should be a financial decision dressed up as an admissions strategy, never the other way around.

If your family is weighing ED for this application cycle, let’s sit down and run your specific numbers before that November deadline arrives. Fifteen minutes with a net price calculator now beats a difficult phone call to a financial aid office in December.

This is not a topic you will hear much about when the college discussion comes up, or when reading college planning articles, but it is one worth exploring. You may feel like you are all supposed to have everything figured out, the school, the finances, and the major.

However, some high school kids have not figured out what they want to do with their life yet. And that is OK.

Summer is supposed to feel like a break. But if you’re the parent of a rising senior who still has no idea where — or even whether — they want to go to college, this particular summer probably doesn’t feel much like one.

I hear this a lot: “My kid is interested in everything and committed to nothing.” Or the flip side — “They have no idea what they want to do, so they don’t see the point of any of it.”

Here’s the truth: this is more common than you think, and it doesn’t have to derail the process. But it does require a different approach — because pushing harder on a kid who’s already shut down rarely ends well.

First, Separate Their Indecision from Your Timeline

Think about this — the college application process was designed around deadlines, not around human development. Some 17-year-olds genuinely don’t know what they want yet, and that’s not a failure. It’s actually pretty normal.

What is a problem is letting their uncertainty become a reason to do nothing — because the financial and logistical decisions don’t wait for clarity. Deposits, financial aid packages, scholarship deadlines — these have hard stops.

So, the first move is to separate two things:

• What your child needs to figure out (direction, interest, fit)
• What you need to drive forward (the financial strategy, the list, the paperwork)

You can do your job even while they’re still working on theirs.

Give Them a Smaller Question to Answer

One of the most common mistakes I see — in conversations with clients’ kids — is someone asking too big a question too soon. “What do you want to do with your life?” is paralyzing. No wonder they go quiet.

Try a smaller focus:

• What don’t you want? Sometimes elimination is easier than selection. A kid who can’t name a dream school can often rattle off everything they don’t want — huge lecture halls, a campus in the middle of nowhere, a school that feels like an extension of high school.
• What lights you up, even a little? It doesn’t have to be a major or a career. A flicker of interest in food science, environmental policy, or film is enough to start building a list around.
• What kind of experience do you want? Big campus energy vs. small community? Urban vs. rural? Close to home or far away? These aren’t career questions — they’re easier to answer, and they narrow the field considerably.

The goal isn’t a five-year plan. The goal is to have enough direction to build a working college list.

Build the List Anyway — With a Financial Safety Built In

Here’s where I push back a little with families: don’t wait for your child to fall in love with a school before you start building the list. Build it around them.

I watched literally hundreds of families fall in love with the university where I worked while on tour, and heard parents say repeatedly, “Well, they love it here, I guess this is it”, without any acknowledgement of price. (It was a beautiful campus on the ocean.)

Which is part of my point here, money has to enter the conversation.

Consider this — every list needs at least one school where:

1. Your child would genuinely attend if accepted
2. Acceptance is very likely given their academic profile
3. The cost is manageable without merit aid — or where merit aid is highly likely

Item #3 is the financial safety, and it’s the one most families forget. I’ve worked with families who built a great, balanced academic list and ended up with no good financial options when the merit scholarship and financial aid letters came in.

That’s a painful place to be in April of senior year.

An undecided kid is actually a good candidate for schools with strong exploratory or undecided tracks — many excellent schools make it easy to start broad and declare later. That’s a selling point, not a compromise.

Have the Money Conversation Now — Not in April

If your child is lukewarm on the whole college idea, the last thing you want is a financial surprise making the decision harder. Or better yet, committing to a school with a high cost of attendance. Before senior year starts, have an honest conversation about what you can afford — and what you’re willing to spend.

That means knowing:

• Your student aid index (what FAFSA will calculate for financial aid eligibility)
• What a realistic merit aid scenario looks like at different types of schools
• Whether there’s a ceiling on what you’ll borrow or co-sign, or pay monthly
• What a gap year looks like financially if it comes to that

In my experience, kids who “can’t decide” sometimes can’t decide because they’re sensing — correctly — that the adults around them haven’t fully worked it out either.

When you can have a clear, calm money conversation, it often takes pressure off the whole thing.

What If They’re Genuinely Resistant?

Some kids aren’t undecided — they’re resistant. They don’t want to go, or they’re not ready, and no amount of campus tours is going to change that this summer.

If that’s your situation, here’s what I’d suggest:

• Don’t force it. A reluctant freshman who isn’t ready is an expensive mistake — both financially and emotionally.
• Explore alternatives openly. Gap years, community college, certificate programs, and work experience are legitimate options. Treating them as such (rather than as failures) often reduces the pressure enough that kids can think.
• Keep the financial strategy moving anyway. Even if college is deferred a year, your savings, your tax picture, and your aid eligibility will all benefit from planning now.

The Bottom Line

An undecided kid in the summer before senior year is not a crisis — it’s a signal to adjust your approach. Lead with smaller questions, build the financial picture regardless, and make sure the list includes at least one option that works for your family no matter what.

The goal isn’t to manufacture enthusiasm your child doesn’t feel yet. It’s to make sure that when they do get there — and most of them do — you’ve kept the door open and the options real.

That’s what good planning looks like.

-DC

That envelope (or email) from the college bursar’s office is coming. Maybe it’s already sitting in your inbox. And if you’ve never seen a college tuition bill before, the first reaction is usually some version of shock — even when you know well ahead of time that the number was coming. 

So let’s talk about what to do before you just write the check.

First, Understand What You’re Actually Looking At

A college billing statement isn’t always straightforward. You’ll see tuition, room and board, fees — but you’ll also see credits for financial aid, scholarships, and loans.

Before you do anything, make sure the aid package you were promised is actually reflected on the bill.

Missing scholarships or grants happen more than you’d think, and a quick call to the bursar’s (or business) office can save you thousands. Many bills are confusing. Ask if you don’t understand what you are looking at.

Second, Think Before You Tap That 529

If you have a 529 plan, this is the moment you’ve been saving for — but timing matters. A few things to keep in mind:

• Distributions need to match qualified expenses in the same calendar year to stay tax-free
• Room and board counts — but only up to the school’s published cost of attendance figures
• If your student received a scholarship, you could withdraw that same amount from the 529 with no penalty — though the earnings portion may still be subject to income tax
• Be sure the funds go directly from your custodian to the student’s account with the bursar at the college

Third, Consider the Payment Plan

Most schools offer an installment payment plan — typically spreading the semester bill over 4-6 months for a small enrollment fee (usually $50-100). In my experience, this is one of the most underused tools in college financing.

Why pull a lump sum from investments or a 529 all at once when you can spread it out and keep your money working a little longer?

Or, see if there is any room in your monthly income to make payments in place of a loan (or lower your loan). This can be a significant savings, yet many families often look at financing as “all or nothing.”

When you actually have the option, choose a payment plan that fits your budget and allows you to make regular payments to the college out of your monthly cash flow. It is wise to do so if you are able and lower any debt you may be considering as often your 529 is not going to cover the balance for four years.

Finally, Don’t Ignore the Loans Conversation

If federal loans are part of your plan, they don’t just appear — your student needs to accept them through the financial aid portal.

They also have documents to sign such as a promissory note required for the funds to be disbursed to the school. It sounds obvious, but I’ve seen families miss disbursements simply because no one clicked “accept.”

Check that box now and have your student watch for emails from financial aid on documents needed.

Think about this: the families who navigate college costs most successfully aren’t always the ones with the most money. They’re the ones paying attention in June and July, before the bill is actually due.

So take action NOW so you are prepared and ready for fall – and enjoy some relaxing time with your college student who is home for summer!

-DC

Choosing a major at the age of 17 or 18 is usually not easy – and switching majors in college is common. In fact, most students change their major two to three times before graduating.

While this is sometimes necessary and a healthy way to explore interests, families are often unaware that it can have a major impact on graduation date and overall cost. It is usually not a consideration in the planning process for college financing prior to choosing a college.

The potential increase in cost may not be a reason to dismiss the thought of changing majors especially if it will truly be a better path for the student. However, it is wise to anticipate the potential changes in cost and time to graduation.

Here is what to consider when talking about potential major changes.

Lost Time- Extra Semesters

This can be the biggest factor in changing majors. Adding extra semesters involves more cost.

Many majors have different core requirements and sequences of courses. Switching into a specified major such as nursing, engineering, or education for example requires foundational courses that are often different for each. Changing to a very different major can create the need for:

• An additional semester
• An additional full year
• Sometimes certain courses are only offered one semester per year

We all know college costs are high, and an extra semester can cost anywhere from $12,000-$25,000 or possibly much more depending on the school.

Losing Credit for Courses Already Taken

Families often assume that if a student stays at an institution, prior coursework will apply to a change in major, but that is not always the case.

A change in major can cause:

• Electives that no longer satisfy major requirements
• Lost credit toward major prerequisites
• Credits that count toward graduation, but not the new degree

Program GPA Requirements

Many competitive majors require higher GPAs for admission to the program and if admission is delayed, students may not be able to enter the program later, or may be required to retake courses or take courses that do not count toward graduation.

Effects on Scholarships and Financial Aid

Some scholarships are tied to:

• Being in a specific major
• Taking a minimum number of major-related credits
• Tuition waivers- tied to majors
• Departmental Awards- tied to majors

Emotional Impact: Pressure, Stress and Confidence

Considering the financial impact matters of course, but there are the emotional impacts on the student to consider:

• Exploring career options in high school
• Getting involved as a volunteer or in a program or business that you are interested in
• Speaking to adults in your family and friend circle who work in your desired profession
• Consider self-interests and not just popular majors
• Your first year in college- find a great advisor and take advantage of their expertise and advice

All this information is not to say that switching majors is a sign of poor planning or failure, but rather to encourage consideration early in the process to help avoid some of the potential challenges and costs later.

The bottom line is that with the significant investment in a college education it is important for students to be in a major that will help them lead a successful and happy career after graduation.

As a financial advisor and college planner, along with my experience working at a universities, I have helped hundreds of families leading up to the final stretch to make it to Decision Day- May 1^st.

It is exciting for sure, however, it can feel overwhelming! Students are making the crucial decision of where they will spend the next four years, and parents are planning for this significant investment.

Here is a guide to help students and parents make a confident, well-balanced choice—emotionally and financially.

1.     Look Beyond the Sticker Price—Focus on What You’ll Actually Pay

When comparing colleges, don’t get distracted by the published tuition number. What matters is the net price, which is:

• Total cost
• minus
• Grants and scholarships (free money)

If two colleges feel similar, the financial structure often becomes the real deciding factor.

2.     Consider the “2026 College Fit” Instead of the Dream from Five Years Ago

The world has changed quickly—so the idea of the “perfect” college might have, too. Encourage your student to evaluate:

• Career pathways in a world shifting toward AI and automation
• Majors with strong workforce demand and internships
• Updated ROI data showing employment rates and average salaries
• Campus culture, safety, and academic support

Your student isn’t choosing the best college in general—they’re choosing the best college for who they are becoming now. Parents are considering the best financial fit at the same time.

3.     Don’t Rely on the Waitlist- Be Sure to Have an Overall Plan to Secure Enrollment

Many colleges have been using waitlists heavily in recent years and that will continue due to uncertain enrollment. However, students should have a plan that includes other options:

• Only accept a waitlist spot if you are sure you would attend
• Still pay a deposit at a school you are sure is a good fit and would be excited to attend
• Prepare for a potential long wait to hear about waitlists—it could be summertime that you get a notification

4.     Well-Being Should be a Priority for Students- It Matters More Than Ever

Heading off to college is a big transition. It is crucial to be in a community with a strong support system.

Consider these items:

• Availability of mental health services and counseling both on and off-campus
• Academic support (tutoring centers, advising, peer mentoring)
• Disability or accommodation resources, if needed
• Residence life safety and structure
• The feel of the student community—supportive vs. competitive

5.     Check the Small Details: Deposits, Housing, and Important Deadlines

• Deposit deadlines and refund policies
• Whether freshmen are guaranteed housing
• Honors program or scholarship requirements
• Orientation/registration dates (the earlier, the better)
• The timeline to submit final transcripts and immunization records

6.     Have The Conversation: “How Are We Paying for College?”

Being open and having a transparent discussion on financing college can reduce stress and help you make an informed and financially feasible decision.

• Look at any surplus monthly cash flow that can be used to make monthly payments
• If you are considering loans- look at all the details: Federal student loans, parent loans and private loans. Know the totals you are expecting to borrow and if they are realistic.
• Look at the student’s potential salary after graduation—is the debt you are considering reasonable?
• Discuss the student working part-time during school and summers
• How does the overall college expense affect long-term planning for the family such as retirement goals?

What’s Next?

Maybe the most important step in this long journey—When you make the choice and pay that deposit, it is time to celebrate!

Take a deep breath: Wear the merch, send out notifications to friends and family and enjoy this moment knowing you did your best to prepare for this Decision Day!

January is one of the most important months in the college planning process. It is a natural time to take a breath and reset, evaluate where you are and create a clear strategy for the months ahead.

Whether you are a junior gearing up and getting into the nitty gritty of it all, or a senior facing decision points, there are opportunities at this stage in the year to set yourself up for success in both admission outcomes and affordability.

Here are some focus points to help you get the year started on the right track.

1. Financial Aid and FAFSA deadlines

Deadlines are critical for these applications to maximize your financial aid. Also, some schools require the forms for merit scholarships even though they are not need-based.

• Families should be completing the FAFSA and CSS Profile (if required) if they have not already- early submission ensures you do not miss priority windows for university grants
• Check for other college-specific deadlines such as unique scholarship opportunities separate from merit scholarships

2. Review Academic Progress and Mid-Year Grades

Reflect on your academic progress and be sure to have a plan for the second half of the school year.

• Mid-year grades matter- colleges use them to confirm academic consistency, make decisions for students who were deferred in the early action process, and evaluate the academic rigor for juniors
• Check in with teachers if you have any concerns about finishing the year strong to get extra support

3. Evaluate and Focus on Extracurricular Activities and Their Impact

Think ahead about what else you would like to get involved with before college for your own growth and interest and to help with your college applications.

• Reflect and consider what you want to focus on for spring and summer
• Do you want to take on a leadership role? Start an impactful project? Set up an experience for summer that will be meaningful for you and your college application?

4. Make a Standardized Testing Plan (Juniors)

Spring is a common testing window. Start making your plan now for spring.

• Decide on testing or test optional
• If you take tests, which will you take? SAT, ACT, or both?
• What will be your test prep? Also, how many attempts will you make?

5. Plan for Spring College Visits Now

College open houses fill up for February and April breaks.

• Sign up for open houses early and make your hotel reservations early if needed
• Create a spreadsheet or list of items to compare for each college such as costs, student environment, geography, academics, unique features, etc.

6. Refresh Your College List

Your college list will likely evolve, and that is a good thing. It is a good time to re-evaluate based on these items:

• Your academic interests
• Your academic performance
• Information from your research on the college
• Likelihood of a merit scholarship (important affordability factor)
• Geographical location
• A “best fit” both financially and for the student’s overall experience and comfortability

7. Create Your Student and Family Timeline for the Next Six Months

Having an organized plan and roadmap of upcoming deadlines and “to dos” will help the whole family stay on track and reduce stress.

Some Items for Your January to June Timeline:

• Testing dates and prep plan
• Financial aid application deadlines
• Campus visits
• Application items for seniors
• Setting up activities for spring and summer
• College List review of your top criteria and schools
• Family meeting times- set time aside during these busy years to create a calm space for discussing your college plans
• Anything else that needs to be done!

January is a great time to set up expectations and success for the coming year. Thinking about your strategy now and following your own plan and committing to steps will go a long way to being successful in finding the right college fit for the student and the family’s financial situation.

Start your plan NOW knowing you will have a momentous year ahead, approaching the exciting “move-in” day when you see your efforts pay off!

-DC

This time of year, many of us are trying our best to be thoughtful and giving to both to our own families and those in need. This is a wonderful thing!

In the article that follows, our colleague Donna Cournoyer shares some ideas about what parents can give to college-bound children, and what college-preparing high schoolers might consider for their parents.

Hint: It’s not what you think.

Your first thoughts might be: 529 contributions, cash, a new laptop, a university sweatshirt, money for books, dorm supplies, part-time job earnings, and more.

While all these items are important for both college students and their parents, I have something other things in mind—and they are free.

Time

The gift of time is a wonderful thing, always.

For college planning families, making the time to sit down together and focus on your college plan during this busy holiday season is truly valuable.

It is usually a time when both parents and students have a bit of time off from their regular work and school commitments and the world slows down to celebrate. (After the hectic lead up to your holiday schedule!)

Midway through the school year is also a good point for students to refocus on what is coming up in spring; SAT/ACT, college visits, creating the college list, and much more.

Making the effort to set a time for a detailed discussion as a family, rather than hope to be able to fit some time in this season, can be very beneficial to preparing for upcoming college planning items to be sure you stay focused and on track, and less stressed.

Consideration

When you are making your way through the college planning process, be sure to consider other points of view.

Students: Your parents are doing their best to provide a college education for you that comes at a cost. It is not easy to save and navigate both financing and finding the right fit for you at a college where you will connect and flourish. While it is often stressful to plan for college, try to be considerate of the commitment your parents are making to set you up for success.

Parents: Your students are likely as stressed as you, but in a different way. We all know the pressures related to what peers are doing; to getting good grades; to getting accepted; and generally to performing well in high school.

Your students will have ups and downs and may need a bit of a break or extra consideration at times as they try to do their best.

Perfection is not usually necessary to be a good candidate for college admission. Being considerate of your approach as you work together will go a long way toward facilitating this long-term process and having it unfold as smoothly as possible.

Dedication

Showing up for the process is key. Doing your best amid the emotional and complex process of college planning helps you both in the long run.

Parents and Students should commit to items that need to be taken care of, including:

• researching colleges
• estimating costs
• finding a college with the right “fit”
• scheduling open-house visits
• contacting admissions reps
• putting in study time
• attending college fairs
• getting involved
• working on college essays
• beginning and completing college applications
• considering majors
• thinking about post-college study or work

This is just a sample of what goes into college planning, and it can seem like a lot!

Start early and break down your planning into small, digestible steps and dedicate yourself to keeping up with the plan, within reason. Again, this will go a long way in the long run.

Patience

Finally, patience. We all know by now that this college process is one of the biggest investments and life events for families.

The more you find ways to stay calm, and be consistent in your preparation and approach, the more you can enjoy the excitement of this hard-earned and well-deserved milestone!

High school years are packed with more activities and events than ever before. Combine that with the fast-paced, news-bombarded world we live in, and it is important to take a breath. Literally.

Do whatever works best for you to gain peace of mind and remain calm – and keep it going.

Students and parents: You are both doing your best. Try to keep that in mind when unexpected things come up or when pressure builds. It is inevitable, but not unsurmountable.

Keeping a peaceful approach may seem optimistic, but if you try your best to keep your patience with each other and remember not to aim for perfection, or sweat the small stuff, you do have a perfect chance of making it to and through your college years!

As a college and financial planner, one of the most common questions I hear from families is, “What exactly is a merit scholarship — and how do we get one?”

Let’s clear up the confusion.

Merit scholarships are scholarships given by colleges to attract strong students, and are not necessarily based on financial need.

Unlike need-based aid, which depends on your family’s income and assets, merit scholarships award qualities such as academic achievement, leadership, artistic talent, or community involvement.

What Merit Scholarships Really Are

Think of merit scholarships as a college’s way of saying, “We want you on our campus.”

They’re funded directly by the school, and they can significantly reduce the “sticker price” of attendance. These scholarships might cover a few thousand dollars per year or — in some cases — a lot more.

What many families don’t realize is that merit awards are also a strategic enrollment tool.

Colleges use them to attract students who raise the school’s academic profile or fill certain institutional goals. That means strong grades, test scores, or special skills can translate directly into financial savings.

How Merit Scholarships Differ from Need-Based Aid

• Merit Scholarships: Based on student achievements and potential.
• Need-Based Aid: Based on family financial situation, as shown on the FAFSA and sometimes the CSS Profile.
• A student from a high-income family can still qualify for merit scholarships, even if they don’t qualify for need-based assistance.

Which Schools Do Not Offer Merit Scholarships

Many of the elite and highly selective colleges do not offer merit scholarships at all, focusing solely on need-based financial aid. Examples include:

• Harvard
• Princeton
• Amherst
• Brown
• Bates College
• Bowdoin College

These schools often state explicitly that all financial aid is need-based, and merit scholarships are not available.

Although many of these schools fill 100% of need based on the financial aid applications (FAFSA and CSS Profile).

Where to Find Merit Scholarships

If a school does not offer merit aid, it may not explicitly say so. However, language such as “all aid is need-based” is a sign that merit scholarships are not part of the financial aid package.

Careful investigation of a school’s website should reveal if merit scholarships are available.

Most merit scholarships come directly from colleges themselves, not from outside organizations.

Many private universities often have more generous merit programs than elite Ivy-type schools (which focus mostly on need-based aid).

Many public universities also offer strong merit packages to attract out-of-state students.

Families can use tools like the Net Price Calculator (NPC) on a college’s website to estimate whether a student might qualify for a merit scholarship based on GPA and test scores.

There simply is not a lot of transparency from schools about whether merit scholarships are offered, how much is offered, and how they are awarded.

Also, there is no single resource to help families find merit scholarships.

While comprehensive data that includes all U.S. colleges is hard to come by, based on available information we can say:

• A significant minority of colleges (especially elite private institutions) do not offer merit scholarships.
• Estimates suggest that roughly 15–20% of accredited colleges and universities do not offer any form of merit-based scholarships, though this varies by year and data source.

Using school-specific NPCs is a good starting point. Here are a few additional resources to help determine which colleges offer merit scholarships:

• BigFuture by the College Board- Offers a Scholarship search, including merit scholarships that you can search based on the criteria you select.
• The Princeton Review will tell you if a college offers “non-need-based scholarship or grant aid” is available if you click on “financial aid” for a specific school.
• Collegedata.com Search for a specific college from the “College Search” tab at the top of the page. When the school appears in results, click on the school name to see all information. You will see a lot of data on this page. If you click on the “Financials” tab in the school profile, you can scroll down to see the percentage of students who receive merit scholarships labeled “Merit-Based Gift”.

Planning Tips for Families

1. Build a smart college list. Include schools where your student’s academic profile places them in the top 25% of applicants — that’s where merit money is most likely.
2. Keep grades strong through senior year. Some awards are renewable only if a certain GPA is maintained.
3. Submit applications early. Some merit scholarships are automatic, while others require separate applications or early deadlines.
4. Ask directly. Admissions or financial aid offices can clarify whether merit awards are stackable with need-based aid or limited to tuition.
5. Complete the FAFSA. Especially in year one, as some colleges require it for the student to be considered for merit scholarships even though they are not based on financial need.

The Big Picture

Merit scholarships are not just “bonuses” — they’re part of a smart financial strategy for college.

For many families, it is possible to bring down the $70,000 cost of a private college closer to the $30,000 cost of a state school.

As a financial planner, I encourage families to think of merit aid as both an academic goal and a financial opportunity.

By understanding how colleges use merit awards — and positioning students strategically — families can turn achievement into affordability.

In short: merit scholarships reward effort, strategy, and fit. The earlier you start planning, the better your student’s chances of earning one — and the more manageable college costs can become.

-DC