Financial Aid: When and How is it OK to Negotiate for More…

Can You Negotiate Financial Aid

            So, you’ve gotten your college decisions in the mail, you’ve held your breath in anticipation as you opened each letter and… YOU GOT IN! You celebrate, breathe a giant sigh of relief, and start to picture your future at the college of your dreams.

            And then the financial aid award letter comes in the mail and… it’s not what you hoped for. You had built up your expectations, dreamed of your life on campus, and now, looking at your financial aid award letter you’re feeling not just disappointed, but deflated. Is this it? Is this the end of your college dreams? Do you have to just accept either taking on more loans than you can afford or choosing a different college?

            Don’t toss out your dreams just yet! There may still be hope. Did you know that you can appeal your financial aid award and potentially get awarded more money? That’s right, there is a chance that you may be able beef up your financial aid package if you meet certain criteria. So, in the interest of saving you money, let’s dive right in…

When to Negotiate Financial Aid

            There are certain circumstances that warrant appealing your financial aid award. Outside of these circumstances, though, there is really almost no chance that an appeal will be successful. In most cases, the financial aid that a college offers is what you get, but in “extenuating” circumstances, or with a bit of a bargaining chip, you may be able to make a convincing case for more aid.

            Here is when to negotiate financial aid:

1. When your or your family’s financial situation changes.

Things happen and life can take unexpected turns (as we all saw in 2019-2021, thanks Covid…). Sometimes, people get laid off and the income your family and your college dreams were relying on is no longer consistent. Or a large and unexpected medical emergency happens, and the funds that were once available to help put you through college need to be re-allocated.

These things happen, and there isn’t really a lot you can do to prepare for them. But, here’s the thing: colleges know that life can change in an instant. They understand that things happen, and in some cases, they can be flexible to your circumstances.

If you’ve had a change in your life that affects your ability to pay for college, then you may be able to get more financial aid by appealing.

• When there is a mistake in your award letter:

Though uncommon, sometimes the totals or the amounts listed for aid from different sources in your award letter are incorrect. If you see that there is a mistake or discrepancy in your financial aid award letter, you can appeal for the department to reevaluate your amount. Mistakes may look like a total that doesn’t make sense, incorrect amounts for Federal aid, a scholarship amount that differs from the amount you were promised, etc.

In these cases, you can appeal and may be able to get them to change the total based on the mistakes.

            In these cases, you may be able to shake out a few hundred to thousands more dollars towards your education. However, just because you may go through one of these cases does not mean that you will absolutely get more aid—just that it’s possible.

            On the flip side of this coin, there are many situations where trying to appeal for more financial aid is really not worth the time. Here is when not to bother appealing:

1. Just because you want more money.

Colleges do not have unlimited money to give, so they try to spread out their available aid based on what they believe each student needs. The amount of money that is extended in your award letter is the amount of perceived need based on your family’s finances and income. Just wanting more money or believing you deserve it based on merit or inherent goodness is not a good enough reason to appeal. If your financial circumstances are unchanged and consistent with the information on your FAFSA, then there is no reason to appeal.

• When you get a better offer from a university

Don’t compare offers from Private universities to public universities, or universities with vastly different price tags. What they are willing or able to give one student will be much different between the two. Public universities often have much smaller price tags and are primarily government funded, which means the amount of aid they can offer will be much smaller than private universities, who often have more funding.

In most cases, the amount offered to you in a financial aid award letter is what you get. But, in those few cases that you have changed circumstances, you may be able to get a little more aid, and if that means saving a few hundred or thousand dollars over the years, it’s a big win.

How to Negotiate College Financial Aid

            So, we know the “when,” now let’s talk about the “how.”

            And it begins with a phone call. That’s right, an ACTUAL call. The first things you’re going to do is call the Financial aid office.

But, don’t get too excited—the phone call is just step one, not the actual negotiation. The purpose of the phone call is to ask for the contact information of the person who handles Financial aid appeals. Specifically, you want their email address or the address from which they receive appeal letters. Also be sure to ask how they prefer to receive appeals (ie. in the mail, via email).

Be sure to be polite, patient, and courteous. Remember that the financial aid officials want to help you, and it is their job to do so, but they are also human beings; meaning they are far more likely to go above and beyond for someone who is kind and respectful.

When you know who you’re going to be appealing to, the fun begins.

And by fun, I mean drafting a letter—a REAL LETTER. Even if you’re sending this via email, the format and tone of your appeal needs to be professional and well thought out. This isn’t just a two sentence-email saying you have X problem and need more money. How you negotiate financial aid needs to reflect intention, respect, professionalism, and sincerity.

That said, the letter does not need to be long. 1-2 pages is sufficient. All you’re really doing is explaining why you’re appealing (under what circumstance) and expressing intention and excitement at the prospect of attending their university. For each potential reason for appealing, you may want to tweak the structure of your letter.

            In the case of your circumstances changing, you explain how your family financial circumstances have changed, what happened, and why you need more aid because of it. Explain how it affects your ability to pay for college. Include documents that prove your claims, such as pay stubs, termination notices, or bills. Make sure to express how much you want to go to their college, and that you’re looking for every way to make that more financially.

           In the case of a mistake in your award letter, you begin with expressing how excited you are at the prospect of attending their university. Then you explain that there seemed to be some mistakes in your award letter. Describe the mistakes or areas of confusion and ask if they would reevaluate the final number. Make sure to explain that they are your top choice and that you are really intent on attending their school, you just need to make sure that you’re getting all the aid you can to make it as financially doable as possible. Include the original award letter with the mistakes for proof.

            It may seem repetitive to discuss how much you want to attend their school, but it is critical that you express your desire to go there. A school that knows you’re intent on attending is far more likely to be intent on helping you than one that believes you’re a student weighing options.

            Depending on how the college stated they wanted to receive appeals (email, snail mail,etc.) you’ll send off the letter with the necessary attachments.

Now comes the hard part—waiting. It can take colleges a few weeks to go through the appeals from students, so you may not hear back for 1-2 weeks. That also means you should hold off on following up with them for at least 1-2 weeks. Following up or checking on the status too soon can be pushy, and you don’t want to annoy them.

If you haven’t heard back after 2 weeks, it’s alright to email or call the office asking if there are any updates on your appeal. Again, keep a respectful tone. They are not obligated to give you more money, so you want to keep in their good graces. If you are on a deadline, it’s okay to politely indicate that you have a deadline coming up for important decisions.

Make sure that what you say and how you say it show that you respect their time and work. A simple “I know that you probably have a lot of student appeals and details to work through, so I appreciate your time,” can go a long way.

 When you hear back from the financial aid department regarding your appeal, there are three possible answers:

1. Yes
2. No, but…
3. No.

In all three cases, your response to the financial aid officer should be “thank you for your time.” If their response is open to follow up questions, ask them.

When you get their answer, it’s time to assess what you can afford and what your options are. Will you be able to attend their school with whatever financial aid you have been given? Sometimes, even when the answer is yes, the amount they give you in your appeal may still not be enough. Then you have to decide, is attending this school worth taking on more loans, or is there a cheaper option?

Depending on what you determine, either accept the financial aid offer and put down a deposit or politely inform them that you’ve decided to pursue another option due to your financial needs.

Before you Appeal your Financial Aid Award

            Before you begin the appeals process, set your expectations. Understand that each school only has a certain amount of aid to give to each student, and that they aren’t a bottomless pit of money. In many cases, the answer will be “no,” and that’s the way it is. But, sometimes, the answer is yes. It doesn’t hurt to ask and you asking won’t jeopardize your acceptance into the University. They won’t repeal their initial offer for financial aid either. So, should your circumstances warrant it, there is no harm in at least asking.

            Additionally, sometimes you don’t meet the criteria for appealing financial aid, but scholarships are a different department. You may be able to get more money from your merit or academic scholarships if your grades and/or test scores have improved since your initial application. For this, you’ll reach out to the admissions department as they are the ones who handle that.

            You can also consider applying to external sources for scholarships. There are many businesses and websites offering scholarships to students for a variety of skills or identifying attributes. Many websites even offer scholarships without requiring an essay, like The Christian Connector’s $5,000 scholarship drawing.

            At any rate, there are other options for financial aid and scholarships if the financial aid award isn’t enough. If you are set on that college and the award letter isn’t enough, try appealing. If appealing is out of the question, don’t worry! Hope is not lost… it might be just a google search away!

For more information on Christian colleges and universities, or to be entered into one of our scholarship drawings, visit us at The Christian Connector.