Getting an acceptance letter from a college you applied to is really fun! Waiting for the financial aid offer letter is less fun; reading the letter and decoding it might be no fun at all. In fact, it may be downright confusing.
While colleges were encouraged to use the “college shopping sheet“, fewer than 50% of them did. There is a list (here) of ten important things to pay attention to when reading your college offer letter.
Chapter 2 in our book is also a great resource for estimating what your expenses at college will be as well as lots of insightful financial aid information including a breakdown of what kinds of loans are available, examples of real college financial aid award letters, and step by step explanations of what each ‘award’ is (free money, loans, or employment opportunities). Check it out today!