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If you apply for financial aid at more than one school, you will receive a financial aid offer from each school. Take a close look at your financial aid offers and compare the following:
- Cost of Attendance (Budget): You may need more financial aid to make ends meet at a more expensive school. A high cost of attendance is not a problem as long as you have the resources to pay for it. Make sure you know what items are included in the financial aid budget, and compare the figures with your own estimates for room, board, and other costs.
- The Expected Family Contribution: These amounts are usually similar at all the schools to which you apply.
- The Financial Aid Package (Award Notice): The total amount of aid in your package is not necessarily the most important figure. Consider the whole package and be aware of the bottom line.
Does the total aid offered equal your calculated need for aid? Subtract the financial aid offered from the cost of attendance to see how much you and your parents will have to pay. If your expected family contribution plus the aid offered is less than the cost of attendance, you will need to look for additional resources or find ways to reduce your expenses.
Also, compare the ratio of grants and scholarships to the cost of attendance. A high proportion of grants and scholarships in the aid package should mean you will have to work fewer hours or borrow less to meet your expenses.
Get Help
If you need assistance evaluating aid offers, contact the Office of Financial Aid and talk to a financial aid officer.
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Federal School Code
002325
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To help you analyze your aid offers, use these worksheets:
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