So, you got two college acceptance letters, but different financial aid offers? That’s tough. Luckily, there is a way to negotiate with colleges for a better financial aid offer when you have two competing packages.
Here’s what you need to know about bargaining with two colleges regarding financial aid offers.
Qualifying for Aid Appeal
The first step to getting a better aid package is to apply for aid appeal. One of the qualifying factors is getting a competing offer from another college.
Now that you’ve met the qualifications, you can submit aid appeals to both of the colleges you want to negotiate with.
Apply for Aid Appeal to Bargain You’re Financial Aid Offers
Frank has put together a step-by-step guide to applying for aid appeal. It’s fast, easy, and as long as you feel comfortable advocating for yourself, we have tons of faith, you can do it on your own.
You’ll want to show proof that another school has offered you a better or equal financial aid package. To do so, make sure to submit a copy of your Aid Award from the competing school alongside your appeal letter.
Additionally, use your letter to outline why you deserve aid (merit, accomplishments, etc.) and why you need the additional aid (can’t afford, trying to avoid debt, want to be able to focus on school).
Just follow the steps here. Then make sure you have someone you trust to review your letter before you submit it to the schools of your choice.
Wait for Your Schools Decision
Once you’ve submitted your aid appeal, the decision is up to the schools. They will contact you regarding their decision. But don’t forget to follow-up with them to make sure they got your letter and are taking your appeal seriously.
At Frank, we suggest calling weekly until you get a decision, being kind in your request, and make sure to have your information available when they ask for it.
Hopefully, by going through the aid appeal process, you can get a better financial aid offering at one of the two schools you’re choosing between. No matter what, your education is worth taking this extra step!