Schools
Picking the best financial aid package
Once you get the award letters, how do you decide which offer is the best for you child.
Now that your son/daughter has applied to college(s) the wait is on for not only where they will attend but which college will provide the best financial aid package.
But once you get the award letters, how do you decide which offer is the best for you child.
In a previous blog, “Beware of Misleading Financial Aid letter“, I shared information from The College Solution on how award letters can be misleading. I included some examples and websites to help you understand and decipher the award letters.
- What’s Missing From This Financial Aid Letter?
- Are These Financial Aid Letters Misleading?
- An End to Bad Financial Aid Award Letters
Today, I just read an article by Rob Oto on “Decoding Financial Aid Award Letters“. He shares 4 steps to help you through the financial aid side of your college search.
- Step 1: Set some time aside
- Step 2: Gather the Data
- Step 3: Calculating the Balance
- Step 4: Compare
He also provides sample award letter and worksheet to help you through the process.
But most importantly, once you read through the letters and start to compare the awards if you come across information you don’t understand or the numbers are just not adding up, Call the financial aid office and have them review the information with you and explain the process.
If you feel that the financial aid department needs to know of financial circumstances that will not show up on the FAFSA, send them a letter explaining your financial burdens. Don’t wait, the sooner the better. The longer you wait to speak with them the less aid will be available.
As always, the Department of School Counseling at Montville High School is always available to assist you through the college process.
If you have questions, send me an email, If I don’t have an answer for you I can help point you in the right direction.
Till next time.
