How to Appeal a Financial Aid Award
There are two types of financial aid awards you can appeal: need-based aid and merit-based aid. You must, however, have a good reason to appeal. You might appeal need-based aid if your financial situation has changed since completing the FAFSA (Free Application for Federal Student Aid) or if there is something you need to clarify beyond what the school saw on the FAFSA. Aug 20, †∑ Contact the Schoolís Financial Aid Department. Each school requires steps for filing financial aid appeals. For instance, institutions may insist learners submit a satisfactory academic progress appeal form, or they may only recognize special circumstances that occur after a particular date.
Suzanne Ofr. This was my story: A teenage daughter with her heart set on attending an expensive private ho. A mother who knew the financial aid award would need to be substantial for it to work.
Waiting for an offer of admission only to find out that, though she was accepted, the aid package was insufficient and the college was simply not appeap.
This same scene may be playing out in appela home today. As a parent, you know the financial realities of paying for college. Your student, on the other hand, is thinking with their heart. Fortunately, you do have options. Your student fianncial choose to accept an offer from another college with suitable financial aid ó as we did.
Or you can ask the college for more financial aid. To help families do this, Road2College has crowdsourced financial aid and merit scholarship offers using their Compare College Offers tool. Families submit all their student offers and compare the net cost of each school. Then, you can see offers from other students at the same school and compare your student with other students who share similar characteristics like GPA, test scores, and family EFC range.
This can help you determine if iad offer your student received is comparable to the offers to other students.
Another option is to look at the percentage of admitted students receiving financial aid at a particular college and the amount of the average award using a college data source like College Data or College Navigator. Just like any other large consumer purchase, college tuition prices are negotiable.
The sticker price you how to throw a frisbee farther is very rarely the price you pay. This year, because of the pandemic, you can anticipate that many but not all colleges will be even more flexible in order to appexl students due to low application numbers based on the fact that families are struggling financially. When you appeal your financial aid award, you are simply asking for more money. They may say no, but it does not hurt to ask.
You have nothing to lose and everything to gain by appealing your award. There are two types of financial aid awards you can appeal: need-based aid and merit-based aid. You must, however, have a good reason to appeal. To appeal merit-based aid, your student should have a reason to increase the aid such as other higher award offers from other schools or an improved academic performance.
There are some reasons to appeal merit-based aid. If the college is keen to attract your student, they may sweeten the deal by providing more aid if you ask. Depending on how their freshmen deposits are looking fewer students than expected accepting admission offersthe college may be inclined to increase merit aid to attract more students.
Make this appeal through the admissions office. If your student decides to appeal merit aid, you should provide the college with information to support the request:. The financial aid office will evaluate your situation and make a determination based on the information you provide. Determine whether an appeal might increase your financial aid award amount.
Write a financial aid appeal letter either to the admissions office or the financial aid office. You can, however, follow these simple guidelines:. Some colleges use a Special Circumstances Form for financial aid appeals. You simply list your reason in a few sentences or even just fill in bubbles and submit it to the financial aid office.
Based on the information provided on this form, the college may adjust your student's award. Once you compare your student's financial aid awards and determine you are eligible to appeal, craft your letter to the college or colleges. Just remember that May 1 is the decision deadline and once you accept admission, positive appeal decision will be less likely.
If you presented a clear reason for requesting more need-based aid, the odds are in your favor that the college will find some money to supplement your award. A few thousand dollars, however, can make the difference between having to take out substantial student loans or what weekday is cheapest to fly on able to attend with minimal debt.
The more selective a college is, the less likely they will be to offer more merit aid. If your student is at the top of the applicant pool and a stellar student, the college may be more likely to offer additional aid. Due to the pandemic, many colleges and universities are facing enrollment uncertainty and a risk to their revenue streams.
They will be more likely to grant appeals to attract more students. For parents, financial circumstances may have changed due to job loss or national shutdowns and warrant additional aid based on financial need. The U. Current college students are also eligible to appeal their financial aid. Due to the financial impact of the pandemic, they may need additional financial aid to how to reset samsung phones college. If you need more money in your financial aid package and you meet the how to appeal for financial aid, initiate an appeal and ask.
But ask properly and politely. Click Here to Download. Get engaging stories and helpful information all year long. Join our college parent newsletter!
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What to Do When Your FAFSA Amount Isnít Enough
By Mark Kantrowitz. College financial aid is not like negotiating with a car dealership, where bluff and bluster will get you a bigger, better deal. Also, read about how to find scholarships and how to increase your odds of winning a scholarship. Special circumstances include any financial circumstances that have changed in the last two years or anything that differentiates the student from typical students. You can appeal before you apply for financial aid. You can appeal after you apply for financial aid.
You can appeal in the middle of the academic year. You can appeal during the first year in college or after the first year in college. It is best to appeal for more financial aid as soon as a special circumstance has occurred. Note that an appeal lasts for only one year.
If the special circumstances still apply, you must appeal again in subsequent years. If your financial aid appeal is approved, it will be implemented by making a change in the data elements on the FAFSA. For example, if a parent has lost their job, the financial aid administrator will change the income and income tax figures on the FAFSA. The EFC will yield a new figure for demonstrated financial need, based on the difference between the cost of attendance and the new EFC. This, in turn, will yield a new financial aid package.
The college financial aid administrator can also implement some adjustments through a change to the cost of attendance. The book is available on Amazon. By Mark Kantrowitz January 21, Related Articles. Unlock Printing Already have an account? Parent Grandparent Financial Advisor. Log in. Parent Grandparent Financial Advisor Please select a type of user. Please enter a valid email. Deal with student loan debt better. Sign up for our newsletter.
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