Yes, You Can Negotiate Your Financial Aid Offer!

Many students are so excited about getting into a university they aren’t able to objectively analyze their financial aid package. The truth is — most of the time it’s not as good as it could be.

Understanding Your Financial Aid Package

Your financial “aid” will almost always include:

• Loans (which must be paid back)
• Work study (not always guaranteed)
• Scholarships (may not be renewable every year)

Keep in mind that financial aid packages are typically most generous for freshmen, and you may not be able to keep all of your scholarships every year.

Why Negotiate?

For that reason, it’s crucial that you advocate for the best possible financial aid package the school can afford, especially if you can prove you are a great fit for this school.

Think of Admissions as Sales

The admissions department is like the “sales” department of a college. Their primary job is to:

• Make sure there are enough students attending the school
• Accept students who will:
  • Return after their freshman year
  • Graduate on-time
  • Get hired after graduation

If you can make your case that you are all of those things, it makes the school much more likely to want to cut you a deal. You are exactly the type of person they want representing their institution.

Steps to Negotiate

1. Prepare Your Information

• Double check all financial information submitted via FAFSA
• Gather details on any changes in financial circumstances
• Have your financial aid offer on hand
• Know the maximum amount you can afford to pay
• Prepare competing offers from other institutions

2. Contact the Financial Aid Office

• Call, email, and send snail mail
• Be prepared to contact them multiple times
• Reach out as early as possible
• Speak with someone who can adjust your package

3. Make Your Appeal

When communicating with the financial aid office:

• Be professional
• Stick to the facts
• Avoid emotional appeals
• Make your case for why you’re a great fit
• Include information about challenges you’ve overcome

Remember: You’re already in the minority for attempting to negotiate, which can work in your favor. Be confident in who you are and what you have to offer.

Get help analyzing and comparing your offers