Financial Aid; How to Get More

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.

Like most questions about financial aid, many variables must be considered before coming up with an answer. And, there is no "one size fits all" answer.

But, it is sometimes possible to meet with a college admissions or financial aid counselor and come away with an improved scholarship or financial aid package.

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.

The information provided on the FAFSA allows a college to determine how much financial assistance, if any, a student may need. Keep in mind that while all financial aid does not require that a student has need, only students who demonstrate need are eligible for federal grants and government subsidized student loans. In addition, be aware that federal aid can not be awarded above the amount required to meet a student's 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.

Financial aid offered to you by the college you attend is not necessarily subject to the same regulations as federal dollars. Colleges and universities can and do offer all kinds of scholarships to students who have no financial need. The very most competitive colleges, however, award money almost exclusively on the basis of need, and meet 100% of every student's need as determined by the FAFSA.

Many colleges, especially privates not in the highest tiers, have created well funded scholarship programs designed to help them enroll students who, without a scholarship as a difference maker, might choose a more selective or lower priced alternative. These colleges tend to be especially happy to offer no-need scholarships to students of high achievement and potential.

Therefore, students admitted to such colleges might very well be able to meet with an admissions counselor and come away with additional funds if they can demonstrate that attending the college in question would be a financial stretch or that their other college options are significantly less expensive. Note that this kind of conversation should be held with an admissions counselor, not a financial aid counselor.

Remember, you are asking for help, not negotiating. If you behave like an aggressive business professional or consumer, you are very unlikely to get what you want. And, remember, there are any number of laws, rules, and regulations to which college administrators must adhere; they are not always able to help even when they want to. In some instances, however, they may enjoy a fair amount of discretion. So, if you need more financial help than you are first offered, open the lines of communication with someone in the admissions office...it can only help.

Article Source: http://www.myaddirectory.com

Daniel Kane, a university Dean, has created and maintains websites on online college programs and online education degrees.

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