This study analyzes the potential of major financial aid initiatives to serve as key elements of an institutional branding strategy. Concepts of branding and marketing serve as guiding frameworks for the analysis and interpretation of the findings. Using a case study approach, data were collected through interviews and document analysis at the University of North Carolina at Chapel Hill. The findings demonstrate the ability of financial aid to serve as a key component of institutional image and improve a university's competitive position while also ensuring the access benefits inherent in supporting low-income students. The implications of this work provide an additional rationale for increasing financial aid budgets and substantiate proof of the market's ability to improve access. (Contains 1 table.)