Potential Magazine College Organizer 2019

scholarships scholarship negotiation Sponsored by: How to Ask for (and r eceive!) More Scholarship Money BY ANGIE HAYDEN Here’s a little secret to remember as those college acceptance and scholarship award letters arrive: The scholarship offers that schools initially send might not be the best possible offers you can get! Did you know that once you receive scholarship offers from colleges, you may actually be able to negotiate for more? OUR EXPERIENCE As my daughter was deciding where she would attend college, two of the schools she loved offered her scholarships that differed by around $1000 per year. She began to feel that the school offering the smaller scholarship was a better fit for her, but she didn’t want to say no to more money. In the end, one short email was all it took and within a few days the admissions office at her preferred school contacted us to let us know that they had found an additional $1000 per year for her. With one five minute email, we earned four thousand tax-free dollars. Over four years, that equates to almost an entire year of dorm room costs, or around three years of student meal plans! Cha-ching! SO EXACTLY HOW DOES IT WORK? Put It in Writing You might think that a phone call is more personal, but if you put it in writing, you have a record of your request (and their response!). We chose to send an email to the admissions office, and for good measure included a phone number and expressed that we would be happy to speak with anyone who could help. 38 | College Organizer 2019 Choose the Right Words Your letter or email doesn’t have to be lengthy or complicated. Express that their school is your first choice, but your decision must also be dependent on what makes financial sense, so you are seeking additional funds to make it possible. State clearly and succinctly the reasons you are requesting more money, and that you would be grateful for any additional help they can provide. Justify Your Request There are two main circumstances that are most likely to qualify you for more financial aid or scholarship money: • There is a significant difference in your family’s EFC (Expected Family Contribution) on your FAFSA (Free Application for Federal Student Aid) and your actual ability to pay for college expenses. Have you had unusual medical bills over the past year, recently lost a job, or received a cut in pay? If there is any reason that your financial reality is measurably different from what the FAFSA portrays, you should make it known to the school in writing and be prepared to show documentation. • Another school has made a more attractive offer. This was the case with our daughter. When citing this reason in your re- quest, it’s a good idea to include documentation of the compet- ing school’s scholarship offer. Also keep in mind that a larger dollar amount award might not necessarily mean a better offer if the cost to attend is higher, so consider your out of pocket expenses rather than the dollar amount of the scholarship and base your request on that. www.potentialmagazine.com

Potential Magazine College Organizer 2019 | Page 38