FAFSA: Comparing School Aid Offers
“A school aid offer (or award letter) tells you what financial aid you can receive at a particular college or career school. If you’ve applied to several schools, be sure to compare aid offers to see which school will be the most affordable.
If you listed a school on your Free Application for Federal Student Aid (FAFSA®) and have been offered admission by that school, the financial aid office at the school will send you an aid offer (often electronically). The offer includes the types and amounts of financial aid you may receive from federal, state, private, and school sources. This combination of aid is your financial aid package.
Because your financial aid package is created for you and is based on the cost of attending a particular school, your aid amounts will vary from school to school.
Figuring Out Net Price
Follow these easy steps to figure out your net price, or net cost, for each school, and find out which school will be most affordable for you.
- First, find the cost of attendance for your program on the aid offer. If the school doesn’t list the cost of attendance on the aid offer, ask the financial aid office for this figure. Make sure it includes amounts you will pay to the school directly (such as tuition and fees) as well as other costs (such as living expenses, books and supplies, and transportation)…”
Who knew there was so much to understanding FAFSA? Continue reading more about comparing school aid offers, click here.
Are you still confused about your FAFSA? Need help deciphering what is what? Call me, Nadine Underbrink, M.Ed today to help.