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Financial Aid Award Letter

Understanding the Financial Aid Award Letter from the College

The days on which offers arrive from colleges are filled dilemmas for parents. One of the most vexing is deciding whether to steam open the letters from the colleges, or wait until the student gets home from school. We can set your mind at ease about this dilemma at least. You can usually tell an acceptance letter from a rejection letter even without opening it-acceptance letters weigh more. This is because as long as you met your deadlines, you should receive financial aid packages in the same envelopes the acceptance letters came in. Most colleges will need a commitment from you before May 1. This gives you only a few weeks to sift through the offers, compare them, and-if possible-negotiate with the Financial Aid Officers to improve them.

Next Steps
  Determine Your Out-Of-Pocket Cost with the Aid Comparison Calculator
  Search for Scholarships: Free Money Is Available For You
  Use the EFC Calculator To Estimate Your Financial Aid Eligibility
  How Much Will College Cost? Use the Tuition Cost Calculator
  Subscribe to the Financial Newsletter: Advice Sent to Your Inbox
  Register and allow our financial partners to contact you with loan offers


The details of the aid package offered will be spelled out in a financial aid award letter. This document will be prepared by the financial aid office of the school. It will usually tell you the total cost of one year's attendance at the college as well as what the college decided you could afford to pay toward that cost. Most importantly, it will spell out the combination of grants, loans, and work-study aid that the college has determined you are eligible to receive.
 


Related Links
  Are You LOST In the Aid Process? Get On Track Now
  Appealing the Award
  Get A Job: Working While In School
  Let's Talk Basics of Financial Aid
  BUY THE BOOK: Paying for College Without Going Broke


Here is a sample award letter from Anytown University located in Anytown, Anystate, USA.

FOR MORE HELP - USE THE AES FINANCIAL AID AWARD ANALYZER

College Financial Aid Award Notification Example

Understanding the Financial Aid Award Letter information is from PrincetonReview.com.

 

 
   

 

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