How accurate is a estimated award letter from the school you get accepted to?
I was just wondering to make sure it’ll be close to what I am expecting in case I choose to go there.
Thanks!!!
It’s as accurate as the figures you reported on the FAFSA and/or CSS/Profile.
Have you submitted your final tax info from 2014 taxes? That will determine the accuracy of the offer for need-based aid.
From my D’s experience, it was quite accurate and was the baseline. We did DRT but they still asked for documents for verfication. At the end, they replaced the loan and workstudy with grant for the exact amount. Then the tuition increased in summer but so as the grant accordingly. However, this may be a special situation as my D’s school meets the need.
Garbage in = garbage out. The aid estimate is based on your numbers provided. If your numbers change a lot the aid changes. If your numbers stay the same, you can expect the aid to remain the same. They aren’t playing games with you.
What you need to find out is how much of that financial aid can be renewable. Some schools may give you a good FA package for freshmen year but not afterward. So even if the estimate FA package is accurate, you should not make decision solely depending on this. You need to go deeper to find out more information.
http://www.reuters.com/article/2015/02/23/us-column-weston-aidoffers-idUSKBN0LR15R20150223
@jym626 yea I submitted my tax info from 2014 already. I am getting my fasfa estimate award leter on Monday! That is why I am wondering if its going to be accurate. I am a transfer student to UCSB. It’s so expensive if I don’t get cal grant!