<p>Hi all! New mom on board here. Sending my first child off to college and I’m wondering if the financial package that a college offers is set in stone. We didn’t get nearly enough help from our first choice college and I wondered if we pulled out and chose a different school, would our first school consider giving more money? Is it a bartering game or should we trust that what they’re offering us is solid truth? I’d hate to lose our slot on their roster, but if walking away will get us more cash then I’ll play the game! Thanks for any tips…</p>
<p>It’s not a bartering game, and walking away will not do anything for you. </p>
<p>While most FA packages are solid, there are some exceptions. These are usually when the college has made a mistake, when family financial circumstances have changed substantially or when the student has a more generous offer from a peer school. And even then, a lot depends on which school you are talking about, some can afford to increase FA packages, while others have limited funds.</p>
<p>It would help to know what school are you asking about.</p>
<p>^^Hmmm…Not always the case. I’ve known a couple of kids who presented other packages to their #1 choice, told them they were desperate to go but just couldn’t swing it…and #1 made up the diff. It doesn’t happen often…and I certainly don’t suggest holding one package over another like a threat…but there is flexibility.</p>
<p>What do you mean by “pulling out”? If you mean declining acceptance to the school, the school isn’t going to chase after you like a heart-broken beau.</p>
<p>If you mean that you have better offers from similarly ranked schools and this school isn’t affordable, then you could ask for a review…</p>
<p>1) Does this school meet need?</p>
<p>2) Is it an OOS public?</p>
<p>3) Are your child’s test scores high for the school (within the top 25%)? If so, well-within the top 25%? </p>
<p>4) Are the other offers from “peer schools” (schools that are ranked similarly)?</p>
<p>5) Do you have any special circumstances? </p>
<p>6) What is your EFC? and is this a CSS Profile school as well?</p>
<p>7) What is the difference in grants? How much more do you need?</p>
<p>8) What are the COAs for each school? (cost of attendance)</p>
<p>A LOT depends on the school. And some depends on how badly they want your child to be a student there.</p>
<p>Instead of pulling out and going elsewhere (which will not do you any good with School 1) contact school number 1 and say that it is your child’s first choice school. See if there is any possibility of increasing his aid so he can attend.</p>
<p>I will say…if you are asking for financial aid money to cover your FAMILY contribution…you are unlikely to get it. If you are asking for additional money to cover a gap in financial aid, it all depends on the school.</p>
<p>When our DD got her aid packages, she talked to two schools. One school FLATLY refused to even discuss their financial aid awards…wouldn’t even talk about it. The second school gave her an additional student loan and added work study to her package. They did not increase her “free money” grant/scholarship.</p>
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<p>Please read what is written and don’t assign absolutes when none are given.</p>
<p>Sometimes, and I repeat, sometimes, if a kid can say that s/he has to walk away without more aid, but would send the accept on the spot if there is a closer match to another comparable school, and the financial aid office might be able to work out something. That and any number of appeals and conversations have sometimes generated a re examination of the need and package. Sometimes just a statement of the facts will get the same result. You never know if it was the phrasing used, or if the college would have taken a look anyways.</p>
<p>However, if you say you are walking away, you put yourself in a corner. Unless that is absolutely the truth, it’s not something to use as a tactic or as a game. Most appeals and request for more aid result in a denial form what I have seen and read, and most of them will maybe throw in a loan or work study. Unless there is an item where some treatment is questionable or that a like school has treated differently or an outright mistake, I don’t see a lot of packages being redrawn. </p>
<p>You have to understand that the aid offices are being inundated with these requests. On this message board alone, you can see the subject raised ever so many times. </p>
<p>I still urge those who feel that there are unaddressed issues, inconsistencies between like schools, something you don’t understand, or if you truly feel you want to make an attempt to get more money, to give it a go. But I do not advise the “walk away” approach unless you are going to do exactly that.</p>
<p>Perhaps a better idea would be to apply to schools that you can actually afford, SO many people apply to schools that require large grants/scholarships/loans dor their child to attend,it amazes me…</p>
<p>I see no reason for anyone not to apply to schools with high price tags in hopes of getting aid, if the possibility exists, even if it is a long shot. As long as an applicant is covered with a likely college that will meet needs, that the applicant can like and is affordablle, let him/her go to town on the long shots both in acceptance and aid. As long as it is understood that if the money is not forthcoming from the school or a big time lottery ticket hits for the family, that certain price ranges are not affordable, no harm in giving it a go.</p>
<p>My kids did apply to some schools that have merit awards but knowing that they were not likely to get anything substantial. In a couple of cases, very few, but still it did happen, they did get awards that made those schools possibilities. It was a nice surprise. </p>
<p>But my kids were also able to just throw out those schools that were over the price range that we had stated as the limits. I’ve known situations where everyone was made miserable because someone in the family could not let go in an unaffordable case or became determined to make it happen when it was a very bad financial decision to do so.</p>
<p>When my son was deciding between 2 universities, I gave each a call. I told both that my son really wanted to go there, and questioned what would happen to his scholarship if he didn’t go (for 1 school he competed in an engineering test and won $20,000) and if he would be eligible for anyother scholarships that became available. Didn’t make a difference for the 1st school, but 3 days later my son received a letter from his 2nd school giving him a $2,500 scholarship renewable for 4 years. I don’t know if it was a coincidence or because I called, but it was sure nice to get. It also tipped the scales to where he ended up.</p>