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Financial Aid; How to Get More

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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.

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.

Therefore, the only way to get an increase in the amount of federal aid offered to you in your initial financial aid award letter is to convince a financial aid officer that there has been a significant change in your financial standing since the submission of your FAFSA or that there are special circumstances not reflected in your FAFSA answers. If you can prove what you say, you will have a chance.

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.

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.

Do not think of a request for more aid as a negotiation, and do not approach it as such. Instead, ask an admissions officer (counselor, director, or dean) for help...help that will enable the student to attend the college without creating severe hardship for his or her family. If you have a good case to make...if you can demonstrate that the financial aid package offered to you puts a college or university out of reach, you may well get the additional aid you need.