Asking Colleges for More Money: Eight Steps of an Effective Appeals Process

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 strategies 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 Five Steps to Evaluating a College Financial Award Letter, while the most highly selective colleges mainly provide need-based aid, 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: It’s An Appeal, Not A Negotiation

Ensure all correspondence reflects 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:

• What percentage of students receive non-need-based scholarships (i.e., merit aid)?
• What is the admission rate?
• How does the student compare to the applicant pool?
• What is the college’s yield rate (i.e., the percentage of students who choose to enroll after being offered admission)?

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 or 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 attend 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 calculations will likely produce more favorable results than just asking for more. Do the pertinent math and share the calculations.

SIX: Leverage Awards Offered by Other Colleges

Don’t be afraid to share awards offered by other, similar colleges. Seeing those award letters from peer institutions 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. For example, did a family incur significant medical bills? Or, is a family member disabled, resulting in a disproportionate financial burden?

EIGHT: Be Persistent, Not Annoying

College financial aid offices are extremely 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.

Final Thoughts

Ultimately, an appeal is not always successful, but you lose 100% of what you never ask for. By following these eight steps, you can navigate the appeals process with confidence.

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.