FinAid here is USELESS. First of all, most of the named scholarships are for minorities. Now, that's cool, but I go to a pretty upscale private college. The foreign students here are from elite families in Africa and Asia; they are NOT poor orphans who grew up in mud huts with no shoes. These kids have been travelling since grade school and most of the ones I've talked to have attended various elite boarding schools in Africa and Europe. i've never even been on a plane! So basically, they get most of the scholarship preference just b/c they're dark skinned. It pisses me off even more when people that have been adopted into upper class white families in the area get these scholarships. The households in which they've grown up are about as far removed from third world Bangladesh that you can get. Not to mention the loose academic requirements for people that have slightly darker skin. The specific scholarship that my school give out to minorities is a joke. To get a merit-based scholarship of $2500 you need a GPA of 3.0. To get a minority scholarship of $5500, you need a GPA of 2.5. If you're white and want $5500, you have to come in with a GPA of 3.95 and ACT of 3.0 and then maintain a 3.5 or better to keep the scholarship. And this is fair how?
Then, there's the way the school and FAFSA dole them out. I pay for EVERYTHING on my own: tuition, room and board, utilities, food, clothes, books, transportation, my computer, etc, but yet they use my dad's income to decide how much I'm worth. Then, since I work on-campus, the school does this thing where when they total up how much you still owe, they take your work wages and throw them in the mix as "work-study". So when I met with the loan councellor, she started telling me I had a positive balance. Well, it turns out it's b/c I make $1000 a month here during school and $1500/mo during the summer b/c I work my frickin ass off. So they just automatically assume your wages go towards tuition. Turns out I'm thousands in the hole when on their computer screen, it looks like they owe me money.