Buzzwords you should know

• Unmet Need:  The difference between the Cost of Attending College and the EFC (Expected Family Contribution.) This is the amount on which the financial aid award is based.

• Need Blind:  Colleges that make decisions without consideration of a family's ability to pay or if they applied for financial aid.

• Need Aware:  Colleges that take financial needs and its ability to satisfy it when making admission decisions.

• Dependency Override:  An option for the college to use Professional Judgment with proper documentation and explanation to override the dependency status of the student.

• Professional Judgment:  The authority of a school's financial aid administrator to make adjustments to the data elements on the FASFA and to override a student's dependency status based on supporting facts and documentation. This authority is also regulated by governmental requirements and guidelines subject to strict compliance audits.

Step 1: Visiting the College or Making Initial Contact

Questions to Ask

• What is the Cost of Attendance and what does it include?

• Is the college "Need Blind" or "Need Aware"?

• How much of a family's unmet need is met?

• What is the average financial aid package?

• on average, how much do students owe after graduation?

• What percentage of financial aid comes from the school?

• How does early action or decision impact financial aid?

• How is a student considered for merit based awards?

• How much free or gift aid does the college award?

• Do the financial aid packages include alternative or PLUS loans?

• What information is required to appeal an awards?

Step 2: Appeal Process

A financial aid award can be fully accepted or partially or fully rejected. Appealing for additional financial aid is not an automatic process.  It will take work to justify your need with limited time to present it in a positive and convincing way.  Financial aid officers and administrators can use professional judgment to adjust awards in many ways as long as you are specific and well prepared.

• Stay positive, non threatening or emotional.

• Become familiar with the college's policies, available scholarships and opportunities.

• Never assume that the college has an obligation to award more financial aid.

• Don't compare your award to another student as each situation is unique.

• Be open to loans and work study to show that you are willing to assume some financial responsibility.

• Provide a detailed analysis of your income and expenses to show cash flow and actual need.

• Be prepared to explain your consumer credit. Card debt. Was it the only option for emergencies or do you like to spend?

• Document unforseen expenses, loss of employment, death, sickness and other items that have drained the family's resources.

• Avoid terms like: "It isn't fair", or "You owe it to me."

• Be prepared to share awards from other colleges and ask if they can match or beat them.

• Mention any special affiliations, talents or needs for merit based aid.

• Ask about outside employment and work study opportunities.

• Ask when the decision will be made and how you can follow-up.

• Be sure to follow-up your meeting with a thank-you note.

What Happens if the College Cannot Offer More?

The Family must decide on how much of a loan burden they can handle and always have a fallback college that may be more affordable. Though there are no guarantees of additional financial aid awards, remember the old adage that nothing ventured, nothing gained. Give it your best shot and hope for the best.