Getting a Bigger Financial-Aid Offer

Charles Passy:

It's that terrifying time for seniors -- high school seniors, that is: the nail-biting moment when millions of them find out whether they've been accepted or rejected by their college of choice. But if that in-or-out verdict appears final, there's another one that's anything but definitive -- namely, a college's offer of financial help to parent and child.

At a time when demand for college aid is soaring -- applications for federal assistance have increased by 59 percent since 2006 -- 07, according to the U.S. Department of Education and FinAid.org -- appeals of award packages are also on the rise. Some colleges say requests for reconsideration are up as much as 30 percent over the past three years; this is forcing administrators to enter into sensitive financial negotiations and even renegotiations (yes, you can appeal an appeal). And the back-and-forth involves not just newly accepted students but also those at the tail end of their campus experience.

Posted by Jim Zellmer at May 11, 2012 1:04 AM
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