Even with financial aid, many students can't afford college because of rising costs. For instance, in-state tuition and fees at national public colleges have climbed by 211% during the past two decades. However, an appeal letter for financial assistance may help students obtain additional funding for education. Parents may be shocked to learn that many universities are willing to offer additional financial aid packages of several thousand dollars to prospective students. How to appeal a college financial aid award?
Take Stock of Your Financial Situation
The Free Application for Federal Student Aid is used by colleges to establish need-based aid packages. For example, for the 2022-2023 school year, families will need their 2020 tax return to complete the FAFSA.
A financial assistance appeal may be warranted for applicants whose financial situations have changed in the past two years due to factors such as layoffs, furloughs, or wage decreases caused by the coronavirus epidemic.
A death in the family or an unexpectedly high price, such as medical bills, might also be grounds for an appeal. "We certainly realize that family conditions have changed." Even for those households whose income has remained stable, a great deal of worry is circulating. Everything is more costly now. Thus their costs have increased.
Stop Calling It a Discussion!
Blontz recommends families use the phrase "reconsideration" when writing or emailing universities instead of "negotiation," which colleges dislike since it sounds like you're haggling at a bazaar or car dealership.
Contact the Student Aid Office
Experts recommend introducing yourself through email to your financial aid counsellor and scheduling a phone call to discuss your unique circumstances if you want to file a need-based appeal. The financial aid counsellor needs help to grasp the full picture from a few back-and-forth emails and some statistics on paper.
Families seeking reconsideration must present evidence of how their financial circumstances have changed, ideally from an outside source. Using this data, institutions can revise their estimates of the "anticipated family contribution," or the lowest amount of money a family can pay toward a student's college expenses.
Get In Touch With The Admissions Team
To appeal for merit aid, you need to contact the admissions office rather than the financial aid office. Scholarships make up the bulk of a school's supplementary award program. In reality, many of the applications Kendall receives for merit scholarships are based on financial necessity.
When we inquire about the motivation for a student's scholarship appeal, the most common response is a financial need rather than any preconceived notion that the student deserves a larger award. Families that have already received a scholarship may be eligible for an increased reward.
Use An Alternative Deal
If a student receives a more generous offer from another school, that institution may be prepared to change its financial aid package to compete. Parent Terri O'Neill enhanced her daughter's merit assistance at a private Boston university by $10,000 after receiving offers of financial help from many other institutions that were more generous than the university in Boston. The endowment will play a major role in determining the amount of merit aid awarded.
Put Off Making That Deposit
First-year students usually have until May 1 to choose their college. Experts, however, advise that making a commitment before the deadline is unnecessary. Only send in your deposit once you've got the details of all your scholarship and grant offers.
According to Vasconcelos, "once the college receives the money, the family has lost power since the school knows you're going." By the time the deadline rolls around, the institution may have more seats and scholarships to offer.
Request What You Need As Soon As Possible
Around May 1st, university financial aid and admissions departments are frequently inundated with decision and appeal requests. Wait to file a request for additional funds, especially for merit-based help, until the last minute.
However, universities recognize that a student's financial situation may change after they have already committed to attending the school. We want families to file an appeal before the next assistance application season for the next school year.
That's why students may check with the financial assistance office whenever they like during the year to see whether they have the option of appealing. The school may be moved by the argument and would like to take action, but they just lack the resources to do so. 1 2 3
