Appealing aid and more...

2collegewego
Tue, 29 Mar 2011 22:35:30 +0000

A financial aid package is a piece of paper or a screen on a website that has the school’s cost of attendance and lists whatever aid the school is offering you personally. It could be a scholarship (although you may have already received a separate letter offering you the scholarship), a grant and/or loans. For example:

Univ ABC: tuition $34,000
Room and board: $10,000
Additional expenses: $1,000
Total costs: $45,000

Financial aid:
123 scholarship: $5,000
ABC grant: $2,000
Unsubsidized loans: $5,500
Total aid: $12,500

It may also tell you what the student is expected to earn in the summer and school year.

It may itemize what the parent contribution is or let you do the math.

But that’s what it is, in a nutshell.

It will also show you a way to accept/ deny each part of it-- so you can accept the scholarships and grants and turn down the loans if mom and dad have enough savings to cover it.