Financial Aid Reassessment?

Has anyone here requested the financial aid package be reassessed? We got DD’s re-enrollment contract today and while her funding went up a little, tuition went up more. And we just cannot afford it. I don’t mean, don’t want to afford it, I mean we literally do not have that much money every month. As it is, we are not sure we can afford a plane ticket for spring break, which needs to be booked soon.We have made a lot of sacrifices to make this happen, and I cannot stand the thought of telling DD she has to come home because we can’t afford it. We work multiple jobs, it’s not possible to work more. We are just at the financial breaking point.

Anyway, I am wondering if anyone has tried to get more financial aid from a school where you child has already been attending for more than a year, She has fantastic grades (90 something average), good friends, activities she loves, and is really doing well there in general. I hate to make her leave it because of money.

You need to contact the school’s FA office ASAP and explain your situation. It doesn’t matter what others have done. You are facing a dire situation with the very real possibility of disenrolling your daughter. That is in no one’s interest, including the school’s, and they need to know this. Now. The only real assistance you will get is from the school, not this forum. Contact them immediately. If this is a school that meets 100% of demonstrated need, then you need to demonstrate that need and let them do their part. Good luck to you. Please report back on how they help you.

DH is planning to contact them on Monday. I think I am just hoping someone will tell me it’s possible they will make changes.

I know that the FA office at our school is open to these discussions. Situations change. But it’s key to do it right away (as you are).

I would offer whatever information you have to justify your case and to show you are doing everything possible. There are, unfortunately, people who view club memberships, contributing to retirement, second homes, vacations as part of their basic “needs” so being forthcoming about the true need you have, intrusive as it is, will help you.

My daughter is a sophomore at a BS. Two years ago, when we got the FA offers from the schools where she was accepted, her number-one choice (where she is now) offered about 7% less than the highest offer. I called the financial aid officer, and he said to quickly (as @ChoatieMom recommends) submit a letter asking for reconsideration, detailing monthly cash flow, etc. Everything you wrote in your post would go into that letter. He was very nice about it and told me many parents submit letters asking for reconsideration. I did that, and we ended up getting $1K more than the highest offer.

It sounds like you are averse to taking on debt. I know that’s very wise, but I opened a home-equity line of credit so I wouldn’t have to work so hard. It’s a bummer, but at least I know I can afford BS (college is another worry) for my daughter, and right now, I think that is more important.

So asking to be reconsidered for financial aid didn’t take long for me and it worked out well. I recommend it.

I just wanted to update. We did email the school and provide additional financial info. DD will be staying at her boarding school - which is incredible news. We were at the point where we were expecting to bring her home at the end of the year. We have only one local option, and it is not a good school with a huge drug problem. I really didn’t want her there, so I am just so happy that she gets to stay!

Yay! Well done, @makp715!

@makp715 thank you for the update and we are very happy for your DD. We wish her the best of luck next year!

Good news, @makp715 !