Comparing Financial Aid Award Letters

 

You got into the top three schools on your list.  Each has sent you a financial aid award. One offer looks better than the other two, but is it really?  It’s important to compare financial aid offers.  Here are 6 questions to ask: 

  1. What is your Cost of Attendance (COA)? Does the college list all the costs for going to college: 1) Tuition & Fees; 2) Room & Board; 3) Books & Supplies; 4) Personal Expenses, 5) Transportation (getting to and from the campus). If the award does not include these items, search the website for the information or call the college.  
  2. What is your Expect Family Contribution (EFC) number on your Student Aid Report? The amount your family is expected to pay toward college is on the student aid report generated when you filed the FAFSA (Free Application for Federal Student Aid). This number is needed for comparing financial aid awards.  If your family contribution is close to or more...
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