The girl entered Choate one week late and was one of the 48 boarding girls in the Class of 2000. During her five years in the Admissions Office, Farrell has noted that more and more families are becoming comfortable with the financial aid process and are ready to jump in. Final decisions about boarding schools are based on the best financial package families can obtain. Farrell counsels families to pursue lots of options to buffer disappointment. A solid candidate who turns out just shy of full funding in the Choate pool may be a superstar elsewhere.
Patience is also a virtue in the financial aid waiting game.
If families are able and willing to wait awhile there is a chance that we'll be able to make that incredible post-April phone call with an offer of funded admission. Farrell is referring to the monies that come back to the financial aid budget if a student who has been awarded a grant chooses to stay home or enroll at another school. That award then becomes available to another candidate in the pool. More than Good Business When all is said and done, financial aid makes good business sense. Financial aid in the form of tuition discounts brings in revenues and helps keep us competitive.