This post is from Grown and Flown | By Jeff Levy | Estimated reading time: 5 minutes
It’s spring of your student's senior year, and your student has received the best news. “Congratulations! We are pleased to inform you that….” They break into a huge smile, followed by tears of joy as they learn they have just been admitted to the school of their dreams. Looking at the next page of their letter, you feel like crying too, but for entirely different reasons.
The financial aid award isn’t close to making their dream school affordable.
So what should you do? The only remedy available to you at this late date is the Letter of Appeal that you’ll need to send well before National Decision Day, the last day a deposit at your student’s school will hold their place.
Most years this is May 1, but because of the FAFSA delays in 2024, many schools are extending this deadline until May 15 or June 1. Important: verify the deposit deadline at each school your student has applied to.
What should you write in a persuasive Letter of Appeal?
How to appeal a financial aid award
1. First, compare the financial aid offers from all their colleges.
You must understand your net price at the schools your student wants to attend. The net price is the total annual sticker price at the school (tuition, fees, room, board, books, personal expenses, and transportation to and from campus) minus any grants and scholarships listed in the financial aid award.
Do not subtract loans or student employment since these aren’t gift aid. Then do the simple arithmetic to learn how much each school will actually cost:
COA - Grants/Scholarships = Net Price
2. Call the financial aid office
Next, if you decide to appeal at one or more schools, call the financial aid offices and ask what their process is. Some will send you a form to complete; others will ask you to send them a detailed written request. If they allow a letter, I recommend you send it as a pdf attachment to an email addressed to the financial aid office of each college.
Strongest reasons to appeal a financial aid award
Simply wanting more money, even needing more money, will not win your appeal. So what are the most convincing circumstances that could lead to a favorable adjustment to the award?
1. Loss of job/income
The most powerful reason to appeal is that there has been a loss of a job or another source of income since the FAFSA and CSS Profile were submitted. If this loss of income were due to a circumstance beyond the family’s control, it would carry considerable weight in the appeal process.
What will be expected from you is:
- Date of job loss
- Reason for the job loss
- Amount your earnings have been reduced
- Explanation of when employment will be resumed, if known
- New expectation of earnings
It is best to attach additional documentation corroborating these circumstances or to state that such documentation can be provided if necessary.
2. Increase in non-discretionary expenses
Family spending can skyrocket due to serious injury or illness, an elderly family member needing to move into your home, or natural disasters like fires, floods or earthquakes where there is significant damage to your home or property. If any of these events have occurred, they should be documented in the letter of appeal using actual dollar amounts.
3. Better offer from another school
Suppose another institution has offered a more generous aid package that could impact the decision of where your student will enroll. In that case, you should bring this to the attention of the financial aid administrator. Best if the competing institution is similar to the one you are sending your appeal. Be prepared to share a copy of the competition’s award letter.
Once your student has been admitted, they have more leverage than you might think. The institution wants them to enroll because its yield — the percentage of admitted students who enroll — is an essential indicator of an institution’s power in the marketplace.
Writing a financial aid appeal letter
Here are some important guidelines to follow as you write your letter:
• It is perfectly acceptable for parents, rather than students, to communicate directly with the financial aid administrator. Not the case with college applications and essays but actually expected when it comes to financial aid negotiations.
• Identify the applicant by name, date of birth, high school, whether a first-year applicant or transfer, and the application round (e.g., early decision, early action, regular decision). Identify yourself as well.
• Show appreciation for your student’s admission into the institution and the financial aid they have been offered.
• Title your letter as “Letter of Appeal.” In the first brief paragraph after identifying the applicant at the top, clarify that you would like them to review the offer of financial aid in light of the information you will document in this letter.
• Your arguments should be concise. The more your case can be explained by numbers, dates and events beyond your control, the more persuasive it will be. More facts, less poetry.
• Be clear about what you can afford to pay. If $6,500 more in institutional grants will make your student’s first choice affordable, and if that is the difference in net price between the two competing institutions, state this clearly. Tell them how much more they will need to offer to ensure your student’s enrollment.
• In your closing paragraph, thank them for the time they are putting in on your behalf. Explain that because of family finances, the cost of college is a significant factor in deciding where your student can attend. Express clearly that their institution is your student’s first choice (if this is true) and that you hope they can make it possible for them to enroll.
Some final tips
It is always easier to say no to someone in writing than over the phone and easier over the phone than in person. If you can visit the financial aid office, mention in your cover email that you would like to arrange a meeting as soon as possible. Otherwise, let them know you will follow up in a few days by phone.
Remember, admitted applicants have leverage, and your persuasive arguments have a good chance of initiating a recalculation of your need. This can result in your student’s financial aid award being increased. Know going into the negotiation what you will require to make your student’s enrollment possible. Be prepared to say no if they don’t meet it, and yes if they do!
