What Do Colleges Consider When Deciding Financial Aid Award For Students?

Financial aid awards have many factors that come into play at various colleges when determining how much a student will receive.

First, what is the true need of the student based on the formula(s)? There are one or two of three formulas that will come into play. You have the Federal Methodology, Institutional Methodology, and The Consensus Methodology that will determine the true need based on the information provided on the FAFSA, CSS Profile, and or the college’s own institutional form.

Second you have the academic side. Colleges will offer scholarships based on a GPA and or the ACT and SAT results. In addition, because the admission game has changed over the years, if a college appreciates the student’s abilities, talents, and background, they will be desirous for that student to be a part of their incoming freshman class and therefor will offer more gift-aid.

Then you have the leverage component. If a student was offered a magnanimous award from another school other than their first choice, they may have the opportunity (if done right) to negotiate for a better award.

If you would like more information on how to retain a better financial aid package, please contact one of our experts.

Speak Your Mind

*

Google+