How to Work with a Small Financial Aid Award
Do you find your financial aid reward to be a few bucks shy of what you need to pay for college? Don’t give up just yet! The caring advisors at College Funding of Tampa Bay want to share a few tips and tricks with you before you decide to throw in the towel.
Try to Alter the Amount
There are a number of reasons why your financial aid award is smaller than you were expecting. Since so many factors determine the final amount, there are a few steps you can take to try and up the number.
Double-Check Your FAFSA or CSS Profile
The first thing you should do is look over your FAFSA or CSS Profile application. No matter how careful you were the first time, mistakes are extremely common. Since it’s easy to check your work and fix your mistakes, this should be the first thing you do.
File an Appeal
If you’ve experienced any changes in your financial status, you can file an appeal or write a letter to the school’s financial aid administrator. If your status has changed your household income by enough, you could be approved for an increased award. A few examples of such changes include:
- The death of someone who contributed to the household’s income
- A divorce which could leave you with a large financial burden
- Unexpected emergency expenses like visits to the ER
- Unavoidable home repairs like patching your roof
Financial aid administrators tend to be more lenient if you have a good enough reason for needing more money since they want you to be able to attend their school. It’s always worth a shot and it may solve your problems.
Show Competing Offers
If a competing school is offering you more aid, there’s a likely chance that the university you’re applying for will match that offer. All you need to do is show proof of what the other school is willing to give you. Since your desired college would rather not see students fall to their competitors, they will do what they can to meet your needs and come to a mutual agreement.
Have a Backup Plan
If you’ve tried all of the above with no luck, no need to worry! There are other ways to get the money you need in earning a higher education. Although some of these options don’t necessarily come free, they still provide a means of paying for your expenses:
- Look into additional scholarships. You never know what scholarships you qualify for unless you try. You can ask your school’s financial advisor about available scholarships and how to apply.
- Find a part-time job. It might be difficult to juggle a small job and your studies at the same time, but it’s a viable option if you’re able to handle it. Many colleges offer jobs right on campus so you wouldn’t even be going far. An on-site job will make it easy for you to squeeze in extra earnings before, after, or between classes.
- Consider a student or private loan. Even though you have to pay it back with interest, a loan will get you the money you need to get your foot in the door.
Need More Help?
Still not sure if you have the means to pay for college? Speak with an expert at College Funding of Tampa Bay for assistance! We’re here to lay out your options and find a way that works best for you so you can continue seeking higher education and earn the degree that you want. Call us today at (813) 755-6834 to set up a meeting with one of our advisors.
