How to Ask a College for Additional Funds: Eight Steps of an Effective Appeals Process
Since colleges use merit scholarships as part of savvy marketing techniques designed to woo prospective students, it is important to read financial aid award letters carefully and understand what, if anything, can be done to secure additional institutional funds to help offset the cost of college.
As mentioned last week in Four Steps to Evaluating a College Financial Award Letter, while most highly-selective colleges provide need-based aid only, merit scholarships are given by many colleges.
💡Expert Tip: If an appeal makes sense, check the college's website for instructions on appealing a financial aid award letter. If you cannot find the instructions, email admissions. Once the process is understood, follow it.
8 Steps of an Effective Appeals Process
ONE: Remember You Are Appealing, Not Negotiating
Ensure all correspondence reflect humility and gratitude, not entitlement and privilege. Do not use the word “negotiate.” Instead, use the word “appeal.”
TWO: Use Data to Evaluate Your Case
Before deciding whether or not to ask for additional funds, know the answer to four questions: (1) what percentage of students receive non-need-based scholarships (i.e., merit aid? (2) what is the admission rate? (3) how does the student compare to the applicant pool? and (4) what is the college’s yield rate (i.e., percent of students who choose to enroll after being offered admission)?
Current Fine Educational Solutions clients are encouraged to take advantage of the College Aid Pro Compare and Appeal Feature by uploading award letters. Doing so will provide a side-by-side comparison of all offers and helps determine if asking for additional funds is appropriate (i.e., is the price fair and/or reasonable?). Finding the answers to questions 1, 2, and 4 is easy with a quick Google search; however, you may need to ask your high school or independent college counselor to help evaluate how you compare to other applicants.
THREE: Empower Students to Take the Lead
Students must lead the appeals process with parent(s) providing additional/follow-up information as necessary.
FOUR: Be Compelling and Honest
Colleges look good when students they accept attend (yield). Appeals that reflect a genuine desire to attend are more effective than those that are non-committal.
Instill confidence in the college that if they offer you additional aid, you will come by reflecting authentic enthusiasm and excitement. Colleges care about yield; let them know you could be a sure thing.
FIVE: Ask for a Specific Amount
Asking for a specific amount based on math will likely produce more favorable results than just asking for more. Do the math and share the calculations.
SIX: Leverage Awards Offered by Oher Colleges
Don’t be afraid to share awards offered by other competing colleges; seeing those award letters from peer colleges may incentivize a college to increase its offer.
SEVEN: Challenge Expenses
Life is typically more complicated than the sum of parts reflected on a tax return, the FAFSA, and the CSS Profile. Don’t be afraid to share circumstances not reflected.
EIGHT: Be Persistent, Not Annoying
College financial aid offices are super-busy at this time of the year. Don’t be afraid to follow up if you don’t hear back. Ultimately, measured and polite persistence demonstrates interest.
💡Expert Tip: Check your email daily, so you don’t miss anything!
Ultimately, an appeal is not always successful, but you lose 100% of what you never ask for.
For help assessing whether an appeal is worth the time and effort, more information on how to ask a college for more money, or anything related to the college admissions process, please reach out to kathy@fineeducationalsolutions.com.
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