We just received the first of many (and hopefully better) financial aid packages. It's our state school so it's just about what we expected. In addition to his merit scholarship he got a subsidized stafford and a perkins loan.
The letter that came with the package states that an acceptance of the financial aid award must occur within 2 weeks of the award letter date because availability of funds cannot be guaranteed. Is this typical?? He hasn't even decided what school to go to yet.
This is his financial safety if he gets lousy packages everywhere else, but we won't know that for at least two weeks. I'm hoping that the best are saved for last......
I'm also wondering if the 2 week notice is not necessary because they offered loans and not grants. ANyone know???