<p>Just wanted to ask others that are more familiar with financial aid offices what we should think through when reviewing financial aid packages from schools. </p>
<p>We actually might be in a position where college B better matches the award from college A. They were quite a bit apart so now we're worried that this will be a freshman year only deal to get student to commit right now. Once enrolled, is it possible there would be a bait and switch in following years? How do we approach this matter and should we try to get any reassurances in writing?</p>
<p>Would appreciate thoughts from others out there who may have sought a second reviews of their awards how best to think about and plan for years 2, 3, and 4.</p>
<p>Do schools stay consistent year to year if there are no significant changes in financial situations in a household? Is freshman year usually the best aid a family can expect to ever see because all schools care about yield that year?</p>
<p>Is the additional money merit aid or financial aid? If it is merit, call the school and ask what the requirements are for it to be renewed next year - certain GPA or whatever.</p>
<p>If it is based on financial need, then call the school and ask if this is a one time bump or not. My daughter requested an increase in aid from the school that she ended up attending. The head of the FA office was very upfront that it was a one year offer, since her sister was going to be a senior in college and we’d had extraordinary medical bills the prior year.</p>
<p>We’re trying to decide how persistent we want to seem to the financial aid office. We don’t want to seem ungrateful or annoying to them before things get started.</p>
<p>Most schools will keep the aid about the same all things equal in future years. You can look up what a college’s record is on that by examining fin aid figures in the Common Data Set. If you see significantly bigger award figures for freshmen than upper classmen, that is a flag.</p>
<p>However, be aware that the cost of college goes up each year, and that schools tend to expect students to contribute more each year. This goes for most all schools.</p>
<p>I had the same concern when a few schools came up with “need-based” aid bumps (after awarding merit scholarships with acceptances) when the FAFSA EFC clearly indicated that we are full pay. It did seem to be an attempt to boost yield or to lure a full pay student. I think they may “discover” that we don’t have that need next year. I did email one school to ask about it but haven’t received a reply. I don’t want to seem to be ungrateful, but I’d like to know if that extra money will be available in years 2, 3 and 4.</p>
<p>I ran into this with D2, the school didn’t come close to matching a more generous offer, but they did add a few thousand dollars extra. I asked in an email if the increase would continue in future years if our finances remained similar. They said yes, and they kept that promise for soph year. It appears that the bump they gave her came from an alumni gift, as she was requested to write a brief letter about her appreciation of the gift, academic goals, accomplishments, etc. As others have stated, the cost goes up every year, but the relative amount has remained the same as fr year.</p>
<p>D1 had something similar at a different school, while her grants were not increased, an alumni grant was used for part of her Institutional FA and she also wrote annual thank you letters to the family.</p>