With acceptance letters comes financial aid award letters. These are just as important for college-bound seniors who must make their college choice by May 1st.
Ideally, a financial aid award letter should tell you:
Then the letter should explain if any additional balance cannot be covered through programs administered through the school. This is the difference a family will need to make up on their own through cash on hand, a private lender or the Federal Parents PLUS Loan program. Hopefully you can pay cash or, better yet, nothing at all.
If anyone would like to send me good, or even horrid, examples of financial aid award letters, contact me. I’d love to read them.
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