Negotiate College Tuition & Save Thousands
For many students, the financial aid package, or scholarship money you receive from a college, can make or break the decision to attend that particular school. But before you rule out a college because of their financial aid package, have you considered asking for more money?
With the cost of college rising exponentially each year, more families find it harder to afford higher education. Colleges have plenty of open seats to fill, creating an opportunity for you to appeal and possibly get more aid.
Does it Work?
Many people are skeptical or scared to appeal and negotiate with colleges, but it's a proven tactic that can unlock those hidden funds that colleges keep stored away. Many parents fear that asking for more money will jeopardize their child's chance to attend that particular college. Remember, you are the customer. Colleges are businesses that need to enroll students.
More students are beginning to discover this tactic, finding that many colleges can offer more aid. In 2018-2019, the average discount rate on tuition for first-time, full-time freshman reached 48.2%! The even better news is that this number is expected to rise. Can you imagine cutting your tuition cost in half?
The opportunity to appeal and negotiate with private colleges is more significant than ever, and now is the time for you to leverage this opportunity to your advantage.
How do I appeal or negotiate?
Before running down to the financial aid office, follow these five simple steps to kick start your appeal and negotiation strategy:
1. Do Your Research
Before you hit the ground running, it's essential to do some due diligence and know your numbers. Be prepared to expressly state what you are looking for and have numbers to back it up. Ideally, you will want financial aid letters from several competitive colleges to leverage.
Additionally, consider that while there may be unclaimed financial aid money, there may also be scholarships that fall into the same category. Do your research beforehand to learn more about these scholarship opportunities if they exist. SimpliCollege provides a fabulous resource to help you find out the average gifts/grants/scholarship monies that every college in the US offers to students.
2. Know When to Write
Relevance and timeframe are important components of your appeal strategy. The best appeal window is right after the college sends out financial aid awards and again in the summer before college begins.
Did you know that SimpliCollege has 70+ appeal letter templates that you can use in appealing & negotiating your financial aid offer? Sign up today to download them and start crafting your appeal.
3. Use Leverage to Your Advantage
Remember, colleges are businesses, and with every business, there is competition. If a competing university gave you a better financial aid offer, use it to your advantage!
4. Clarify Your Circumstance
Let the financial aid office know your financial situation. Why do you need more aid? This step is an art and, if done correctly, can result in thousands of dollars of additional gift/grant/scholarship aid.
5. Write a Compelling Appeal Letter
The most critical step in your appeal strategy is writing a persuasive letter describing your situation and why your family needs additional aid. Your letter should be concise and to the point. Long, drawn-out letters could hurt you because people rarely have time to read them. Our successful appeal template letters are valuable to our members because we provide examples and templates for you.
Let us be your go-to for appeals and negotiation.
Many additional factors come into play when asking for more aid. Before fully diving into the appeal and negotiation process, remember that we're here to help! At SimpliCollege, our team has years of experience saving families thousands of dollars. We've gathered several unique strategies to help you and your family negotiate a better financial aid offer. Not many parents know how to do this successfully to receive more money from colleges, but we're here to help you.
Looking for a step-by-step guide to walk you through the appeals and negotiation process? Meet SimpliCollege.
