How do you analyze your financial aid award letter? How should I know if I should reject or accept the offer?
What is IN your financial aid award?
Are you an incoming freshman?
If you reject it can your parents pay the full amount?
Look at what the school has to offer you. Probably wise to accept all grants and scholarships, and work study, if you were offered that. Will that cover your costs along with whatever your parents can contribute?
If not…add in the Direct Loan amount $5500 for a freshman.
Now are your costs covered?
If not…you have a gap in your aid amount and the cost of attendance.
If the option on your aid award is for a Parent Plus Loan, how much would your parents need to take in that? That is their loan…and they may want to explore other options for paying.
OP, if you are a pharmacy student, please aware that federal grants & sub. direct loans may going away when your status become graduate/professional. You should analyze your financial aid over 6-8 years of study.