Once you receive an award letter, you moved a rung on the financial aid director. They have moved from financial aid applicant for financial assistance recipients. The award letter or letters, if you have applied for more than one school can and should serve as an important tool in your decision about where to attend school. More and more students are waiting for their award letters before their intentions of the national day of intent deadline of 1 May be promulgated. This strategy is not goneunnoticed by financial aid offices throughout the nation. We all try to out our letters, especially to incoming freshman prospects, as soon as possible.
Why is this a good strategy is obvious if you look more than one award letter. Awards from the schools thousands of dollars can also vary the same student. And, as everyone can attest, there is an intense wave of convincing quality money before the face of a person. Students who apply to the ability and the resources thatmore than one school, most financial advisers strongly recommend that you do. People in financial aid offices call this strategy "Getting to Yes." Once the institution has accepted you and you will receive an award offer, you hold the cards. Now, with a stacked hand, you can decide which institution you would like to participate, and you also have the opportunity to use your award letter from a rival institution to ask if you can sweeten your school of choice of, do you think of "jumpingShip. "
Most financial advisors agree that it never hurts to ask. Some financial aid administrators hate that experts "out there" to lobby for students to negotiate their price. But if everyone is to advise them and you do not, guess who's at a disadvantage? So consider, in any case your premium package negotiations.
The schools are required to include important consumer information in your letter of award. Your letter must contain your costs of participation, your Stateand institutional expected family contribution, and how much is filled with your need and how much remains unfulfilled. Make sure that is very cost of attendance, which is almost always an estimate, an appropriate budget for you. If you are awarded scholarships for all institutional merit or talent, you will want to know whether the contract is only for one year, or whether it will be extended for future years. What if your GPA falls? Become eligible for the CollegeFor your scholarship or other aid, such as student loans, for that matter.
If you are awarded a student loan, you must have the interest rate or rates, if you have been notified awarded more than one loan. If you automatically for a work-study job, ask how many hours you will be expected to work and whether there are any other aids to make your work-study was designed to replace a problem hardship for you.
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