Financial Aid; How to Get More

Among the three or four most frequently asked questions about financial aid is whether or not it is possible to ask for and receive an increase in aid.

Because financial aid is governed by fairly complex regulations, a definitive answer to that question...an answer that applies to all students...is not possible.

It is true, however, that it may be possible to wind up with an improved scholarship or financial aid package after an exchange with an admissions or financial aid staff member.

Every student who applies for financial aid is required to fill out a free federal financial aid form (FAFSA) on which there are questions related to family assets and income. In some instances, colleges will also ask financial aid applicants to provide additional information on an institutional financial aid form.

The information provided on the FAFSA allows a college to determine how much financial assistance, if any, a student may need. Keep in mind that while all financial aid does not require that a student has need, only students who demonstrate need are eligible for federal grants and government subsidized student loans. In addition, be aware that federal aid can not be awarded above the amount required to meet a student's need.

So, unless you make a mistake on your FAFSA, you'll only be able to increase your federal financial aid if you can demonstrate to a financial aid counselor that you have suffered financial reversals since submitting your FAFSA or that you are the victim of special circumstances. Generally, a successful appeal requires solid documentation.

Institutional financial aid, however, can be a different story. Individual colleges and universities can offer you grants and scholarships even if you have no financial need. But, not all choose to do so. The very most selective colleges tend to offer money only to those with demonstrable financial need (and meet the full need of all students).

Many colleges employ their own scholarship monies as a tool to compete with more prestigious or less expensive institutions...institutions to which they might otherwise be likely to lose students. These colleges are more than willing to put scholarship dollars on the table to attract top students.

Thus, a good student admitted by such a college may be able to wind up with an improved financial aid package if he or she can produce award letters from other colleges which offer better packages, or if he or she can convince an admissions counselor, director, or dean that the original financial aid package would make it difficult (or impossible) for the student to attend the college.

Remember, you are asking for help, not negotiating. If you behave like an aggressive business professional or consumer, you are very unlikely to get what you want. And, remember, there are any number of laws, rules, and regulations to which college administrators must adhere; they are not always able to help even when they want to. In some instances, however, they may enjoy a fair amount of discretion. So, if you need more financial help than you are first offered, open the lines of communication with someone in the admissions office...it can only help.

Daniel Kane, a university Dean, has created and maintains websites on online college programs and online degrees . Financial Aid; How to Get More