Understanding college and university financial aid offers

Partners Post, May 2014

Students and their families are often confused or even frustrated when trying to understand the financial aid offer letters they receive that are essential as they make extremely important decisions about higher education.

Counselors report that these letters are full of acronyms and jargon that can be confusing.  One key concern is that loans and scholarships are often lumped together, which can give a false sense about total assistance. One of the most important points to remember is that anything listed in the financial aid letter as a loan is just that — a loan which must be repaid at a later date. You should also be aware that the letter details aid only for the first year of school.

To help you help your child with these important decisions, be sure to talk to your school’s counselors. They can help you understand navigating this process.

With the help of a school counselor, “Decoding the Student Financial Aid Letter” was recently issued by National Public Radio. Take a look at this helpful piece which contains many useful tips and related information.

 

 

 

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