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One of the most common questions parents and adult students ask is whether or not they can negotiate for an improved scholarship or financial aid package. The answer is "yes" for some, and "no" for others, depending on a number of variables. It is accurate to say, however, that in some instances, meeting with a financial aid or admissions counselor can lead to a better financial aid package than the one offered initially. Every student who applies for financial aid is required to fill out a free federal financial aid form (FAFSA) on which there are questions related to family assets and income. In some instances, colleges will also ask financial aid applicants to provide additional information on an institutional financial aid form. It is the information therein collected that enables colleges to get a picture of a student's financial need. While not all aid requires financial need, federal grants and subsidized loans do. And, federal funds may not be used to award students dollars in excess of their demonstrated need. Thus there is only one way to get an increase in federal funds. If you can demonstrate to a financial aid counselor that your financial status has changed significantly since submitting the FAFSA, or prove the existence of special circumstances, you may be eligible for additional dollars. If you have a case to make, be prepared to submit documentation and you may be successful. Your word alone will seldom if ever be enough. Colleges can be much more flexible with their own funds than they can with federal dollars. Many can and do offer academic, leadership and many other scholarships without regard to need. The Harvard's, Yale's, and Princeton's of the world seldom offer any funds not based on need, but they meet the full financial need of every student they enroll. Other colleges and universities, especially second and third tier privates, often use institutional scholarships to compete with more selective and/or less expensive colleges. Such schools are generally very comfortable using their own dollars to sweeten the pot for high-achieving students. Thus, a good student admitted by such a college may be able to wind up with an improved financial aid package if he or she can produce award letters from other colleges which offer better packages, or if he or she can convince an admissions counselor, director, or dean that the original financial aid package would make it difficult (or impossible) for the student to attend the college. When requesting more aid...need based or otherwise...remember that you are not buying a car. Ultimatums, rudeness, and aggressive behavior will surely be counter productive. And, you must remember that admissions and financial aid offers do not enjoy unlimited discretion. While I would not encourage anyone to try to save the last dollar on educational costs, there is no harm in requesting necessary help.
Article Source: http://www.financemanual.com
Daniel Kane, a university Dean, has created and maintains websites on online colleges and online degrees . Don't reprint this article. Instead, reprint a free unique content version of this same article.
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