Parents and students often ask if it is possible to negotiiate with a college to improve the initial financial aid package they have been offered. Because financial aid is governed by fairly complex regulations, a definitive answer to that question...an answer that applies to all students...is not possible. It is accurate to say, however, that in some instances, meeting with a financial aid or admissions counselor can lead to a better financial aid package than the one offered initially. Virtually all colleges and universities require students seeking financial aid to answer questions on a federal form (called a FAFSA) designed to provide an indication of a student's need for financial aid. Some private colleges also use a second form to obtain additional relevant financial information. It is the information therein collected that enables colleges to get a picture of a student's financial need. While not all aid requires financial need, federal grants and subsidized loans do. And, federal funds may not be used to award students dollars in excess of their demonstrated need. So, unless you make a mistake on your FAFSA, you'll only be able to increase your federal financial aid if you can demonstrate to a financial aid counselor that you have suffered financial reversals since submitting your FAFSA or that you are the victim of special circumstances. Generally, a successful appeal requires solid documentation. Colleges can be much more flexible with their own funds than they can with federal dollars. Many can and do offer academic, leadership and many other scholarships without regard to need. The Harvard's, Yale's, and Princeton's of the world seldom offer any funds not based on need, but they meet the full financial need of every student they enroll. Many colleges employ their own scholarship monies as a tool to compete with more prestigious or less expensive institutions...institutions to which they might otherwise be likely to lose students. These colleges are more than willing to put scholarship dollars on the table to attract top students. As a result, students bound for colleges in this category may have some luck in upping their financial aid package if they can point to other institutions which have offered them better packages or make a convincing case that the initial financial aid package presents a difficult financial challenge. These kinds of appeals should be made to an admissions counselor or to the Dean of Admissions. When requesting more aid...need based or otherwise...remember that you are not buying a car. Ultimatums, rudeness, and aggressive behavior will surely be counter productive. And, you must remember that admissions and financial aid offers do not enjoy unlimited discretion. While I would not encourage anyone to try to save the last dollar on educational costs, there is no harm in requesting necessary help.
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Parents and students often ask if it is possible to negotiiate with a college to improve the initial financial aid package they have been offered.
Daniel Kane, a university Dean, has created and maintains websites on online degree programs and online education degrees . You can get a unique content version of this article.
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