When you receive an award letter that you have moved up the financial ladder one step. You have moved from financial aid applicant financial aid recipient. The award letter, or letter if you have applied to more than one school, can and should be used as an important tool in the decision on where to attend school. More and more students are waiting for their award letter before they make their intentions known from the national day intentionally period from May 1 This trend has not gone unnoticed by the financial aid offices around the nation. We all strive to get our email out, especially incoming freshman prospects, as soon as possible.
Why this is a good trend is obvious when you look at more than one award letter. Awards among schools can be of thousands of dollars even same student. And, as anyone can certified, it is extremely compelling quality to wave money in front of your face somewhere. For students who have the ability and resources to apply for more than one school, most financial advisors assistance would strongly suggest that you make. People in financial aid offices call this strategy “getting to yes.” When the Agency has accepted you and you get a reward offer, you hold all the cards. Now, with the stacked hand, you can decide what organization you want to join and you also have the ability to use the award letter from the agency competitors to ask if your school choice can sweeten the pot to keep you from “jumping ship.”
Most financial institutions consultants support agree that it never hurts to ask. Some financial managers hate that there are experts “out there” a spokesman for the students to draw Award. But if everyone is getting this advice and you are not, guess who is at a disadvantage? So, definitely consider negotiating prize package.
Schools need to include important consumer information in the award letter. Letters must include the cost of attendance, and federal agencies expected family contribution and how much of your requirements are met and how much is received. Make very sure the cost of attendance, which is almost always the plan is appropriate budget for you. If you are given any institutional funding for merit or talent, you should know whether to award just one year, or if it is renewed for the coming years. What if the rating falls? You will still be eligible for college scholarships, or other help, such as student loans, for that matter.
If you are granted credit college student, you must report the interest or the price if you have been awarded more than one loan. If you are automatically granted work and study work, ask how many hours you are supposed to work and if there is any other assistance to replace your work-study should be working difficulties with you.