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Why do financial aid packages differ from institution to institution?

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Why do financial aid packages differ from institution to institution?

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Not all schools use institutional methodology (IM) to determine eligibility for financial aid. The majority of colleges and universities in this country use only federal methodology (FM). Even within those schools that use IM, there are differences in how institutions use information gathered on the CSS PROFILE. There are also variances in the financial resources that institutions can draw upon when awarding gift aid.

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