Considering Finances: Appealing the Award
Finding the perfect college is an exciting milestone, but it's important not to lose hope when the financial burden becomes overwhelming. If your dream college's price seems daunting, you can appeal the financial aid award outlined in your award letter. Although colleges may not openly encourage appeals, financial aid officers can make adjustments if warranted. Here are some steps to follow when considering an appeal.
Delay Depositing
Before making any deposits, settle the financial aid discussion. Once the college receives your deposit, they may be less motivated to offer a better financial aid package. Keep your options open until you have resolved the matter.
Be Realistic
When appealing, approach the college with a partnership mindset. Express your desire to be part of their community while explaining the need for additional assistance. Be clear about what you can afford, and make sure your request aligns with your Expected Family Contribution (EFC) and the cost of tuition. Conduct thorough research and negotiate in good faith.
Be Informed
Before initiating a conversation with the financial aid office, familiarize yourself with each college's specific financial aid policies. Understand whether the college offers need-based or merit-based financial aid. Contacting a college boasting about your academic achievements and SAT scores won't be effective if they solely provide need-based aid. Tailor your approach accordingly.
Investigate Preferential Packaging
Explore if the college practices "preferential packaging," which involves meeting a larger share of financial needs based on a student's academic profile. Determine if your test scores fall within the college's desired range. Colleges may be more generous with financial aid awards if your scores raise their profile.
Come Prepared
Colleges typically reconsider awards under specific circumstances. These include incorrect EFC due to changes in the family's financial situation caused by illness, unemployment, or a competing offer from another college. If you mention a competing offer, be ready to provide a copy of the award letter to the financial aid office.
Inquire about Conditional Aid
Discuss the possibility of conditional aid with the college. Find out if they are willing to provide additional aid if you maintain outstanding academic performance throughout your senior year.
Put It in Writing
Compose a detailed letter outlining the reasons for needing additional financial aid. Request a follow-up meeting with the financial aid office, ideally in person. Putting your appeal in writing demonstrates your seriousness and allows you to present a comprehensive case.
Remember, financial aid administrators have the discretion to make adjustments on a case-by-case basis. Be prepared to provide documentation to support your appeal. It is advisable to contact the financial aid office at each of your child's top college choices, as different administrators may present different financial aid packages.
Following these steps and presenting a strong case increases your chances of securing a more favorable financial aid package. Don't be discouraged from pursuing your dream college due to financial constraints. Appeal the award and advocate for the support you need to make your higher education aspirations a reality.