The main objective of this study is to identify differences in the freshman financial aid packages of low-income, high-achieving minority students in public and private institutions. Our results suggest that private and selective institutions can offer better financial aid packages that enable them to recruit higher numbers of low-income, high-achieving minorities. We found that, as a consequence of banning affirmative action policies, flagship public selective institutions, unlike selective private ones, cannot freely compose financial aid packages to recruit and retain minority students. This, in turn, translates into an increased financial burden for the students in flagship public universities. (Contains 5 tables.)