5 Hints To Win Your Financial Aid Appeal
5 Hints To Win Your Financial Aid Appeal
You should file a financial aid appeal to the financial aid office at the concerned school if your situation has changed since you submitted your financial assistance application.
Your chances of receiving additional money will rise if you take the time to carefully consider and submit a financial assistance appeal together with any necessary supporting documentation.
Remember that even if your financial aid appeal is successful, you might not receive the same amount of funding each year you attend college. Every detail is where the devil is found.
Find out from the Financial Aid Administrator how much of your grant money is refundable for your second, third, and fourth years of study. It would be wise for you to enquire about the requirements as well.
What Makes a Financial Aid Award Appeal Worthy?
An excellent reason to file an appeal is if your family’s income has significantly changed or if you’ve had unanticipated medical costs. These are not the only explanations, though.
Financial assistance administrators are permitted to examine exceptional conditions by exercising “professional discretion” or “professional judgment.” Put another way, as long as the college has the money, they can offer you more if you give them the justification and the evidence for it.
It is not sufficient, as most people would agree, to express your dissatisfaction with the award and demand an immediate increase in your prize. You have to present them with the evidence before they can show you the money. A financial aid award may be appealed for the following reasons:
- Income loss as a result of being laid off or fired.
- Unusually high medical costs as a result of a family member’s illness or hospital stay.
- A sudden event in life, such as the passing of a parent or close relative.
- The student and their parents grow apart.
- The family/student encounters a natural disaster.
- Modification of assets or income on the CSS Profile, FAFSA, or other financial aid application.
- An improved financial aid package from another university.
How Can I File an Appeal for Financial Aid?
The majority of institutions offer an appeals procedure for financial assistance awards. You should confirm the criteria with the Financial Aid officer or the college website to be sure you are submitting the correct paperwork.
For example, to appeal for financial aid at Cornell University, you must complete a unique form known as an appeal application form. You can file an appeal and schedule an appointment at the University of Michigan to discuss how your circumstances have changed.
You might only need to submit a letter and supporting documentation to some other universities. If permitted, include a letter with a passionate appeal with your paperwork, even if colleges just request a form. This could help you succeed.
What is a Financial Aid Appeal?
College applicants have the option to file a financial aid appeal to request more money or a better financial assistance package than what was initially granted.
Most universities, if not all of them, will have policies in place to assist you in appealing. Go to the college’s financial assistance webpage or get in touch with the Office of Financial Assistance to get started.
5 Hints To Win Your Financial Aid Appeal
Record Your Unique Situations
As directed by the financial aid agency, draft a letter or email politely requesting more money and describing your updated situation. Include information about a parent’s job loss, illness, divorce, or taking on the role of providing care for an aging family member in your request.
Copies of any supporting documents you may have, such as a letter of termination or medical bills, must also be included. By supplying supporting documentation, you will strengthen your case and make it simpler for the financial assistance officer to make a biased decision in your favor.
Utilize more Offers
To strengthen your financial aid appeal, you can take advantage of better financial assistance offers from other universities.
They may match a greater financial assistance offer you received from an institution they view as a peer (or rival for the same students). Should your academic standing place you in the top 25–25%, or perhaps the top 50% of candidates, and you possess a unique gift, you may hold greater sway.
Many universities are eager to brag to US News about their students’ academic achievements. The less leverage you may have, the lower you fall in the application pool.
No matter where you are in the candidate pool, you should be grateful for the financial aid package and offer of admission. Tell them if they are your first choice. It’s crucial to emphasize, though, that attending would be made feasible by an increase in gift aid, which includes grants and scholarships.
Enumerate any recent honors or advancements in your studies
You could also include any recent accolades you have received since submitting your application in your appeal letter.
Make sure you inform them whether you have won any awards in the areas of academics, leadership, sports, or other pursuits. If you weren’t already a very appealing prospect, doing this could make you more so.
Recall that universities are very attracted to your accomplishments since, well, they look nice on you.
Send in your appeal as soon as possible
If at all feasible, file your financial aid appeal before College Decision Day, which is May 1. This is how colleges will interpret it: as part of your backup plan.
Naturally, you will be forced to file the appeal at that time if your situation changes near the day of the decision. Remember that money is frequently tight and that other students will also be contesting their financial aid package.
Remain in Touch
It could be a good idea to give the financial aid office a call or send an email if a week has passed and you have not heard back from the college.
If your appeal is denied, find out if you can resubmit more papers to support your case. If that’s not feasible, you have two choices: either figure out a responsible way to cover the costs, or think about going to a less expensive institution.
Regardless of the outcome of your appeal or the amount of grants and scholarships you anticipate receiving, always remember to thank the financial aid officer in writing.
Conclusion
Find out from the Financial Aid Administrator how much of your grant money is refundable for your second, third, and fourth years of study. It would be wise for you to enquire about the requirements as well. Chew over the fine print, and best of luck with the appeal.
