Need-based financial aid involves understanding a family's ability to pay the tuition your school charges, and then negotiating (whether formally or informally) a discount strategy to meet as much of the need as possible. It is important to note, however, that understanding need is a complex process. While we would all like a simple formula for assessing need, no two families' needs are exactly alike. With this in mind, ISM offers the following distinctions to understand the differing uses of need-based financial aid.
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