Saturday, January 3, 2009

What You Do When The Aid Offer Isn't Enough To Pay For College

What do you do if you get that letter and the financial aid offer is not enough? There are several routes to take. First, if family financial circumstances have changed, through loss of a job, for example, it's important to revise your FAFSA and contact the student aid office to advise them of the situation. You may qualify for more aid.


If the lack of aid is going to make attending impossible students should write a polite letter to the school, appealing for additional help. He suggests writing instead of calling, so it's more difficult for them to turn you down. Ask for help, not money. The rule is that if you don't ask, you won't get.

Another helpful Web site is SimpleTuition.com, which can help you work your way through alternatives to the aid you've been offered in the original letter.

Among those gap-filling alternatives: Private loans to students, PLUS loans to parents, or home-equity loans, if you qualify. You can actually search and compare private student loan providers on their site, including rates and total repayment cost.

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