I know this is a common question, but I figured that I would start a new thread just to organize my thoughts. Right now I am planning on putting my deposit down for my college (University of New England) on the 21st of this month, but I figured that it would be better to ask for more money before I put my deposit down. Right now UNE’s estimated costs are $37,443 for tuition and fees and $13,363 room and board, meaning that their estimated overall cost is about $51,000 (estimated) and they have offered me $40,500 (estimated). Now my problem lies in the fact that they offered me A LOT of money and I understand that and I really would hate to be greedy, but I live with just my mother and I, and my family has no money to offer for my college. So the $10,500 plus the other costs such as traveling, clothing, and other expenses are all costs that I will have to take out in private loans. So i figured that if I have an opportunity to ask for a little more money (every little bit helps) then I should at least try, even if it doesn’t work I figure there is no negative consequences (And if there is I would love to know what they would be). I just wanted to know the best way to go about writing to them. I plan on typing out a letter, but what should I say? I can’t just say, “Hey your offer was great but I need more”. I would love any advice that could be given.
@BB2000 You can take out Stafford loans ($5500 Freshman, $6500 Sophomore, $7500 Junior, Senior). You work in the summer an earn about 2k. And you go to consignment stores in Maine, like in Portland for clothes.
I apologize for not putting this in my original post by I included the Stafford loan in the $40,500 offered by the college. because I wanted to separate the costs that I ill have to take out as private loans. And i do already have a job and I am working on saving up as much money as possible 
You won’t be able to borrow those private loans on your own. You would need a co-signer. That would be a lot of debt to saddle your mom with - even assuming that she’d be able to qualify in the first place.
Do you have any other offers that are more affordable? You can let U of NE know that they are your first choice, but they are $X more expensive than University Z, and the you’d appreciate it very much if they coukd reconsider your aid package. Perhaps some vital piece of information was missing in our aid application.
My cheapest college was $4000 a year, so its a difference of $6,000 but its a much smaller school and I would definitely have more opportunities at UNE. Should I appeal that way? Also does a cosigner have to be one of my parents or can it be any member of my family? I’m the first member of my family to go to college so I really don’t know any of this.
@BB2000 You can appeal but you have to give a reason. You might get another 2k. Also ask your mom if you can have the AOTC.
https://www.irs.gov/credits-deductions/individuals/aotc
Also you can save money as an upperclassman when you live off campus and cook your own food. Probably 3-4k savings. More if you have enough roommates Learn to cook now while you are home if you need to. Take a look at an instant pot… Great for soups, grains, stews. Really as an upper classman you may only need an additional 6k a year which you could pay with a summer job, AOTC and tiny loan. It wouldn’t be so bad.
Portland insider tip: Whoopee Pies are the state dessert. Go here for them https://www.twofatcatsbakery.com/
People often suggest the AOTC be ‘given’ to the student. It is a credit that offsets the parents’ taxes. Only $1000 is a refundable credit. If the parent is low income, there is no tax to offset, and nothing to give to the student.
People wouldn’t suggest the parent give the $4000 personal exemption to the student, or the child credit.
^Kiddo could look into it and talk to his mom. Does no harm.
Yes, you can ask for more money – the best way to do that for a need-based award is to ask to speak to a staffer in the financial aid office to go over the details of the award. If the college intends the award to meet your full need, there may be ways that the award can be increased based on special circumstances --and sometimes when talking to a financial aid staffer at the college to go over the award and the basis for the award, it might turn out that there was a factor that was overlooked.
Asking doesn’t mean that you will get more money – but you know that – as you’ve said there is no harm in asking.
I do think a phone conversation will be more fruitful than an email – because sometimes things come up in conversation that you would not have known were important or relevant to include in your letter.
Also, keep in mind that some of the expenses reflected in COA do not have to be paid up front and some are flexible --so if you are frugal, you may be able to save $1000-$2000 off the estimated COA. If you are hardworking & creative, you might also figure out ways to earn money beyond a campus job or work study. (My kids certainly did) – so while it will require work and effort on your part, I think the amount of money you need to come up with is manageable. But obviously it would be very helpful if the college is able to increase your award even by a small amount.