Strategies To Cut College Costs- Award Letters

The following is a reference guide of education cost-cutting strategies for families of all income levels. These strategies were created by some of the top minds in educational funding and can provide families with financial opportunities to help fund tuition costs. They include:

• Asset Strategies
• Income Strategies
• Award Letter Strategies
• Appeal Strategies
• Education Tax Incentive Strategies
• Academic and Admission Strategies
• Other Strategies

• If the award letter does not show the “True Cost of Attendance” (COA) leaving out costs, determine the “True COA.”  Ask for the PLUS loan eligibility. Then add that to the financial aid award to compare the “True COA.”
• Check if grant/scholarship aid is renewable and its criterion.
• A college acceptance deadline that cannot be met should be extended. If the college will not grant an extension, the family should accept the award for its safeguard. Accepting an award letter does not commit the student to attending that college.
• Awards that do not meet expectations should be appealed to the Financial Aid Officer (FAO).
• Research if private scholarships reduce grants or loans.