College Financial Fit Tips
Financial Aid and student need impacts college admission decisions. Some colleges may not meet the student’s full demonstrated financial need, others may offer more loans instead of generous financial aid packages consisting mostly of grants and scholarships. Selecting a college that offers a good financial fit with the student or family’s financial resources is the goal.
Here are some tips to help you evaluate colleges’ financial aid programs:
- What’s the average total cost of attendance (tuition and fees, books and supplies, room and board, travel, and other personal expenses)?
- Does the cost for attending this school vary by program? Will your program cost more or less than the average student cost?
- If you are offered loans to meet the cost of the school – how much money are you willing to borrow and able to pay back?
- Does the school offer scholarships or other types of aid that aren’t based on financial need? How can you apply ? When is the application due?
- When does the financial aid office notify students about financial aid award decisions? Is there an early estimate offered or only final award amounts?
- What are the academic requirements or other conditions for the renewal of financial aid, including scholarships?
- If the financial aid package isn’t enough, can I appeal? Under what conditions, if any, will the aid office reconsider the offer?
