Do's and Don'ts of Negotiating Financial Aid Etiquette

Parents Forum
1

<p>Most of my college admissions results have come back, and now it is time to look at financial aid. I have received some of the financial aid packets from some of the schools that I applied to, looking at the figures based strictly on numbers, I believe that they have made the right decision. Looking at our EFC, it should be expected to pay practically full freight, but there are other factors that does not reflect our EFC. After all there was no place on the FAFSA to list special circumstances, and I feel that my dad and I did not elaborate enough on the special circumstances section on the CSS Profile (we have surely learned our lesson about that). This is the first time that my dad has filled out the FAFSA or the CSS Profile (he was an international student when he was applying), and now my dad and I have learned from the mistakes and are ready to start negotiating. I have, for the most part, been in charge and responsible for everything in the admissions process…from applying to merit scholarships and scheduling interviews to turning in the IDOC, filling out the CSS Profile, getting pin #s, and filling out the FAFSA. </p>

<p>Special Circumstances

  1. My dad is still paying off loans from two universities that he attended before I was even born ('87 and '90)----he still has $40,000 to go before it is all payed off.</p>

<li><p>My dad is supporting 10 people back in Africa (ranging from their teen years to the age of seventy). He is paying to sustain basic living. Basically, if his income is cut off, then they will not be able to survive, since about $10,000 a year goes to them, which is a lot of money in Africa.</p></li>
<li><p>My mother (she doesn’t work) is guardians to four of my cousins, who are teenagers. My cousins wanted to stay in Africa, because it is what they know (which is completely understandable).</p></li>
</ol>

<p>I never thought that I would be accepted to the majority of the colleges on my list, but reality is setting in and I know that I need to get over my sense of “there are more amazing people out there” syndrome. I feel uneasy even asking for a better financial aid packet and merit aid packet, because I know that they didn’t have to accept me at all. </p>

<p>I know it is wrong to feel this way, because I have seen many people on CC successfully get a better financial aid package. I think that it will make me feel better, if I knew some general rules about approaching this situation. I am afraid of coming off as demanding. I am afraid that I won’t be persuasive enough. I am afraid to even ask for more merit aid (my host from the school that gave me merit aid said that I should negotiate it). I don’t want to seem greedy or give the wrong impression. </p>

<p>Therefore, I have titled this thread the Do’s and Don’ts of negotiating financial and merit aid etiquette. Basically, how to have the most success in increasing financial aid, through approaches and behavior.</p>

2

<p>If they accepted you, they REALLY want you and will do reasonable things to increase the likelihood of your matriculating. You should contact each school immediately and let them know your full situation. For your first choice, LET THEM KNOW that they are the first choice but financial considerations may force you elsewhere. Then be prepared to document your reasons (1-3) -- even getting outside documentation (clergy, etc.), father's loan statements, etc..</p>

<p>To the other non-1st choice schools, explain to them that you would really, really like to consider them but financial hurdles lie ahead. Can they please consider the information you will present to them and reformulate a FA package.</p>

<p>HTH</p>

3

<p>You "appeal" your financial/ merit aid award [that is the terminology- appeal] by sending a letter with complete documentation of all your outside expenses that were not covered by the Fafsa form. If some of the colleges you have been admitted to are considered "rivals" for the same level of student, you can mention to college "A" that you received X $$ from college "B". since they do both want you. Sometimes this works, sometimes it doesn't.</p>

4

<p>I'm sure the grammar in your essays was better than how you wrote this asking for advice! In appealing an unappealing financial aid award, one NEVER mentions $ amounts, simply that other schools have offered considerably more, and that you need HELP! You explain that your additional need can be documented, but NEVER send anything more than a 1 page letter in round 1. As far as the colleges are concerned, they need to know in no uncertain terms that each one is your 1st choice! Depending on the school, you could have been underawarded or worse - mis-awarded! Either way, you're short. Sounds to me like you need professional help, and there's plenty of it out there.</p>

5

<p>I think you have a very, very compelling story here, and a very, very understandable reason for not having explained it well on the CSS.</p>

<p>I suggest the following:
1. Talk with your guidance counselor ASAP and see if he or she can be of any assistance (you never know!)</p>

<ol>
<li><p>Write an appeal letter to each school as if your life depended on it... just like you did your college essays... in your own voice... which is very compelling -- just focus on clarity, honestly, organization, persuasion and honesty. Have at least one none-jaded adult read it (a trusted friend or teacher) and possibly the school college counselor or a parent who has done this (I assume you can't afford professional help in your situation!)</p></li>
<li><p>Call one of the financial aid offices to talk this through right away! You might get some very helpful advice and information. Start with one about 2/3 down your list -- so you don't feel too anxious if it doesn't go well! Use the feedback and information you get to hone your strategy for your top choices.</p></li>
</ol>

<p>Good luck and best wishes. Your family has taken on many responsibilities and taken many enormous chances in life. Kind of reminds me of my family a few generations ago, only it took them several more generations to get anyone into college! ;)</p>

<p>S</p>

6

<p>The most important thing to do is to call the FA office immediately. Don't just send an appeal letter. Every college has its own policies on how appeals are handled, and some ask for additional paperwork and documentation when special circumstances are involved. Call the FA office ASAP and Ask to speak to the director of financial aid, if possible. You want to clearly state "My family has circumstances that were not reflected in the FAFSA (and Profile, if applicable). I can not afford to attend with the current offer, and I am wondering how I might be able to have you take a closer look at my family's circumstances and perhaps adjust my award. What is the process College XYZ uses to do so?" </p>

<p>The better you can document the extra expenses (in other words, show proof that your family is supporting the cousins with bank statements, etc.), the more likely your appeal will be successful. Make sure you specify that you can document the extra expenses when you talk to the FA director (assuming you can). </p>

<p>However, do not expect all colleges to handle things in the same way, nor equally change their offers. Additionally, it is unlikely that <em>most</em> will SUBSTANTIALLY increase your award to be full freight, but they may increase it JUST ENOUGH to make attending feasible with a bit of sacrifice on your family's part. Don't, for instance, expect a $20,000 EFC to suddenly drop to $0. It probably won't, but you may get some offers that will make your family's contribution $18,000, or $16,000. (Just using those numbers as examples, of course!)</p>

<p>Get going on this ASAP as it can take a few weeks to get all of the final data in hand. Good luck.</p>