It’s the time of year high school seniors receive their financial aid packages.
If you are disappointed in the amount you are awarded, you can appeal for more money.
Here are four tips for getting more money.
(Remember: Try this before committing to a school with a deposit. Once the college has your money, you’ve lost your leverage.)
Let's Make a Deal
Be careful not to sound like you’re trying to negotiate a commodity. This is your child, so when communicating with the school, don't use the word “negotiate.” Instead, say "reconsideration."
Contact the Financial Aid Office
If your family had a change in a financial situation like loss of job, you'll be asked to submit documents to back up your claim. If you're lucky, schools will recalculate what's known as the expected family contribution.
My Kid Got a Better Deal
Some colleges will adjust a student's award package to one up another school's offer.
Call the Admissions Office
Parents tend to focus on the financial aid office when appealing their awards packages. But remember, they only deal with financial aid. The admissions office may be able to increase your scholarship award, especially if your child received merit aid.