How do I choose between need-based and merit-based financial aid?

Hello! I'm a junior, and I'm starting to research financial aid options for college. I'm wondering if I should focus on applying for need-based aid or merit-based aid. Can anyone explain the differences between the two and offer some advice on which one might be better for me? Thanks in advance!

Hi there! It's great that you're starting to look into financial aid options early. I'd be happy to help explain the differences between need-based and merit-based aid. Need-based aid is financial assistance awarded to students based on their family's financial situation and their ability to pay for college. This type of aid can include grants, scholarships, work-study programs, and loans. The amount of need-based aid a student is eligible for is typically determined by the information provided in the Free Application for Federal Student Aid (FAFSA) and/or the CSS Profile. Merit-based aid, on the other hand, is awarded to students based on their academic achievements, talents, or other personal qualities. This type of aid can also include scholarships and grants, but the focus is on the student's accomplishments rather than the family's financial need. In terms of deciding which type of aid to focus on, it really depends on your individual circumstances. If you have a strong academic, artistic, or athletic background, you might have a good shot at merit-based aid. However, it's also important to apply for need-based aid, as you might qualify for more assistance than you realize. My advice is to pursue both options and see what opportunities are available to you. Good luck!