Your Financial Aid Offer

Colleges may offer aid applicants a combination of aid types, including grants, scholarships, and federal loans. The offer of financial aid will come in the form of a financial aid offer.

The financial aid offered may be different for each school to which you apply. Don't automatically assume that a less expensive school will cost you less money.

Look very carefully at your financial aid offers:

Question 1: What percentage of the financial aid offer is "free" money?

Question 2: Are there any gaps in my college funding?

Question 3: What should I do about those gaps?

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Test Your Knowledge

Which school will be more expensive for you if your expected family contribution is $5,000? One that costs:

  1. $8,000 per year
  2. $24,000 per year

There is no difference… you will be asked to contribute $5,000 at both schools. Although the second school may seem more expensive, you will be eligible for more aid, since the cost of attendance is greater.