For many students financial aid is used primarily just to pay tuition, but for some students financial aid also helps to pay for some school related living expenses as well. Let’s say you received your financial aid package and your financial aid package including grants, scholarships, work-study, and federal loans did not even add up to the cost of your tuition. What do you do? Well that depends.
If your financial aid accurately reflects your expected family contribution (this is calculated by your FAFSA) you may be out of luck. Perhaps you need to consider other methods of paying for school, or even finding ways to reduce your costs (to be highlighted in a future post). Sometimes you can still get additional loan money if your financial aid package did not offer you the maximum amount of loans for the year.
If your family (or just you/ your spouse if you are an emancipated minor, ward of the state or over the age of 24) had a significant drop in income after your taxes were filed (such as a loss of employment) then you can appeal your financial aid with your school. You will need to go to the financial aid office and fill out the appropriate paperwork. Most of the time your financial aid will be adjusted to meet your needs.
Generally speaking if you are not satisfied with your financial aid package go talk to your school’s financial aid advisors. They can review your package and help make adjustments if you qualify.
