Language is everything. You never get a college to "compete" with another college and you don't get them to "negotiate" aid. Most important learn as much as you can about the process at the schools that you are interested in.
During the admissions cycle D got accepted to amherst, dartmouth, williams, barnard, tufts, bryn mawr and Mount Holyoke.
There was a total of $12,256 between the Barnard package and the final offer we got from Dartmouth (we used the Williams offer for a financial review from Dartmouth (Dartmouth met the williams package) where D is now attending. However, the Williams package was not the overall best package, we were just requesting a financial review between 2 comprable schools; her top 2 choices).
Originally Williams gave more grant money,less loans, a less student contribution, less parent contribution than Dartmouth.
Dartmouth met Williams' EFC, lowered the loans, and met the grant aid.
I personally would not use the approach of what school a, b, and c offerd) as admission officers, Financial aid offers and those who work in enrollment management are very savvy when it comes to looking at "their competition", who choses their school over school A, B or C so the approach could come back to bite you. No one wants to feel that they are in a bidding war over students. If you need a review, I would only send on package per school; school a & b, or c and a (or what ever combination works for you). Schools want to know that you are coming for the education. Although money is a factor, if it is really that big of a factor, some will tell you to go where your money can take you.
While one does not use the words "negotiate" I am going to use the word to state some important points...
1.Know the financial aid policy of the schools that you are dealing with.
Many schools are part of the 568 Presidents' Group Member Institutions do agree not to get into a bidding war with the other member institutions over students
http://568group.org/docs/568statute.pdf
member institutions
568 Group Member Institutions
Some schools are up front with the fact that they do preferential packaging (Muhlenberg, BU -when it comes to giving out merit money). Some schools purposly give you an admit-deny, they admit you then give you a package that is so out there you cannot afford to attend.
Some schools (wesleyan and brown come to mind) are very upfront with the fact that they do not negotiate aid any you must really have some extenuating financial situation in order to get a financial review.
Read the fine print that comes with your award letter.
In our house we were very fortunate because D's first choice (which did not give the overall best package) stated in their FA brochure that they sent with the award letter that you could request a financial review even if it meant sending in another school's offer. We did request a review sent in School B's offer. We also knew that when it came to losing students- while school B did lose students to HYP, it was a 50/50 split when it came to chosing school A over school B (and vice versa). The Director of Admissions and FA even stated it in the school's daily newspaper. So read those school newspapers, they are a weath of information. When we contacted Current college D told them that it was her first choice, but school b was the more economically feasible option for our family and stated why. She faxed over school B's offer letter and a few days later they sent a letter meeting the offer (by the same token D also knew that if we could not get the $$ that she would be attending school B).
2. Know how and where you stand as far as the applicant pool. If the school sees you as some one "worth" negotiating for ( I don't know what constitutes worth but often it has to do with where you are in regards to the school's institutional mission) you could end up with more money.
3. IF you have a package from a school that is based on merit money, it is very unlikely that you will be able to negotiate a a comprable package from a school that has a need blind approach to FA. Most need based schools are very explicit about the fact that they don't consider merit money when comparing packages.
I think you have to really break down the packages as if you were footing the bill.
Look at loans as money coming out of pocket (as it is out of pocket, it is just not coming out of pocket at this moment).
Look at the student contribution (which can also be considered out of pocket because if the student does not eaarn the money, the college does not make up the short fall. There will be a gap that you as parent will have to make up by writing a bigger check or taking out another loan)
IF the schools are in different states, look at the cost of coming home. Is it plan, train or automobile? because it is going to cost something.
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