So it’s April. You have already filled out the financial aid forms. Now what should happen next?
By now, you or your child should have received the financial aid letter, also called as the Student Aid Report or SAR. (If not, check your spam folder to see if it got filtered out.) This important document outlines all the awards (i.e. aid or grants, availble federally subsidized loans) you will receive from the college, state, or federal government.
Review the letter carefully to determine if the award is fair. It should contain a fair mix of college scholarships and grants. Colleges have a historical amount of aid they give. However, let’s not forget that college is a business. It is possible that they could short you, or offer less than you expected or are even rightly entitled.
Assuming you have letters from multiple colleges, compare them with each other. They will list total grants, student loans, etc. This way will allow you to determine which college has the best financial package. Unfortunately, the best financial package is not always the top pick for your child:( However, now that you have summaries of the award packages, you (or we if you are already working with CPC) can approach the other colleges to ask for more money.
You need to convince the university why they want your child. There are various strategies to do this, some more effective than others. Put yourself in their shoes, and practice your pitch on others before you call the school. Too many people accept those letters as final and do not attempt to work with them. It won’t always work, but it is certainly worth a try.
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