US News recently had the opportunity to sit in one some financial aid decisions at Pomona College.
For people not familiar with the process this is an interesting look behind the scenes. The most interesting note to me in the article was the comment that in person appeals are particularly persuasive.
A note of caution, however, lest you believe that financial aid is this accommodating at all colleges
and specially students living in an apartment. As noted in the article Pomona has a very large endowment per student and can afford to be generous with their financial aid packages. Most schools outside of the highly selective colleges will not meet the full need of each of their students. Moreover, I doubt that most colleges would adjust down a parents stated assets even if the parent were too optimistic in valuing property.
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