<p>After May 1st, when a college receives declines from the people who do not want to attend their school, what does the college do with the money they awarded them? For example, I am a freshman seeking more financial aid.</p>
<p>Having offers declined by prospective students is a routine part of the process, and the schools factor it in when they calculate their financial aid resources. If you need more FA than you were awarded, file an appeal . . . and you certainly don’t need to wait until after May 1 to do it.</p>
<p>Keep in mind: what incentive does this school have to increase your award if you’ve already committed to attend? Better to file your appeal before you accept their offer . . . unless it’s already too late for that.</p>