Evaluating Award Packages

All financial aid award packages are not alike, and you must consider federal grants and loans, college scholarships and loans, and outside scholarships and loans in a comprehensive way to see how they work together for you at each college to which you have been accepted.

* Will the college alter its aid package if you have also secured outside scholarship support?

* Have you been offered a full scholarship or only a partial scholarship?

*  What portion of your package is loans, which you must pay back, versus grants, awards, or scholarships which are free and clear?

* What portion of your loans do you incur, and what portion do your parents take on?

* What would happen to your award if you accepted only part of it, and rejected others (e.g. loans or work-study)?

*  If you have work requirements, how many hours will you be required to work, at what rate of pay, and how will you be paid? Are you expected to save additional money from jobs over the summer?

*  How many years, exactly, will your aid package cover? Are there certain requirements, such as a High GPA, that you must maintain to keep your awards? What percentage of students graduate in four years?

*  What, exactly, will your aid package cover,? It may pay the only tuition, or include such elements as required fees, book, room and board, a computer, and travel to and from home.

*  What is the average loan indebtedness of graduates of the college, and where do they go after graduation?

*  Will you be guaranteed on-campus housing for the duration of your degree, or will you potentially have to move off-campus? How will your aid package cover such a move?

*  Are there special support programs or groups in place for scholarship students? What percentage of students on campus are receiving financial support from the college?

* Are there hidden costs associated with attending the college? High rents or food prices in the area, high travel cost, fees for lab, library, athletic center, or student transportation usage?

*  What happens if you lose your scholarship after your first year? What kind of aid could replace it?

*  When will you have to begin repaying your loans, and what would happen if you transferred to another college or reduced your enrollment from full-time to part-time status?

*  Has the college give you its best offer? Consider appealing your award, package, in terms of overall aid as well as the proportion of grants versus loans, due to extenuating personal or family circumstances or because you really want to attend the college but have received aid packages that make it easier for you to go elsewhere.

*  If your aid package, plus your and your family's expected contributions, is not enough to meet the cost of the college you want to attend, what other sources can the school recommend that you pursue.

*  How important to you is it to attend a particular college despite the fact that its aid package is not as attractive as other schools? It may be "worth" you're attending a top college with a strong program
in your area of interest, more support for you, and a better record of graduate and career placement.

Financial Aid Appeal Letter

Evaluating
Award
Packages