The schools that accept you will send award letters that spell out the financial aid you’re eligible to receive. Review each award letter carefully and consider how attending a particular school will potentially affect your education investment.
Depending on the time of year, financial aid may be estimated or actual. Letters mailed in January or February contain estimates. Those mailed in the early spring typically contain actual numbers. Know which numbers are reflected in your letter.
Gaps in aid are almost the rule
Don't be surprised to find out that financial aid won’t cover the total cost of your education. Aid programs generally have limited funds to disburse to a large number of applicants. However, if your expected funding is substantially different from the amount in your award letter, talk to the financial aid office at that school. Remember, these figures can be negotiable.
Also, if there has been a change in your family's financial situation since you filled out your FAFSA, let the financial aid office know. Schools have the power to consider new financial circumstances and re-evaluate the amount of your award.
A private student loan, such as Loan to Learn®, is an excellent way to cover the difference between your actual cost of attending school and your financial award plus any subsidized loans.
After choosing your school
- Follow the instructions for acceptance listed in the school’s award letter
- Notify the Financial Aid Office of your chosen school
- Complete, sign and return all forms included with your award letter (TIP: Make a copy for your records before mailing them)
- Notify the financial aid offices of the schools you will not be attending so they can reallocate funds to other students