Need-blind admission in the United States refers to a college admission policy that does not take into account an applicant's financial status when deciding whether to accept them. This approach typically results in a higher percentage of accepted students who require financial assistance and requires the institution to have a substantial endowment or other funding sources to support the policy. Institutions that participated in an antitrust exemption granted by Congress were required by law to be need-blind until September 30, 2022.[1]
Many colleges and universities cannot provide enough financial aid to cover all admitted students. Some institutions are not need-blind, while others may practice need-blind admissions, but cannot provide sufficient aid. Additionally, some schools that use need-blind admissions for domestic first-year students may not extend that policy to international or transfer students. Need-blind schools tend to be selective, due to the large number of applications they receive.
Each institution has its own definition of meeting the full demonstrated need. Some schools meet this need through grants and/or merit or talent scholarships alone, while others may include loans and work-study programs. As a result, a student's financial aid package can differ greatly between schools that claim to meet full demonstrated need.[citation needed]