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Financial Aid Appeals Process and Templates
As published by College Funding Services
What is it?
Did you know if you're not completely satisfied with your financial aid award we can complete a formal process to appeal for re-consideration? Nothing is guaranteed in this process and normally we tell our clients to make their school decisions based on the original awards. However, we are going to give them hell and see if we can't squeeze more out of them.
Expectations
Typically, successful appeals result in an additional $3,000-$5,000 (annually). Successful appeals are VERY rare at public institutions (outside of extreme hardships), whereas we expect good results at most private schools. Again, nothing is guaranteed.
Timing
We want to submit appeals once we receive the financial aid awards at relevant colleges (we won't appeal at a school, if we're not serious about attending). This usually means between mid-December/mid-January for early applicants and mid-March/early-April for regular decision applicants. Sometimes we will wait to receive (hopefully more generous) awards before appealing. Colleges usually take between 2-3 weeks to make a decision, but this varies and sometimes take months.
Should we always appeal?
No. There are scenarios in which we could risk receiving less money if we appeal. This is rare, but possible. Make sure you consult your CFS rep. before submitting formal appeal.
How do we do it?
Stop me if you've heard this: It depends on the college. As we've mentioned, these institutions are private businesses and as such they each run their business differently. Consult your CFS rep for guidance on the procedures at your particular college/s. However, in all cases you will have to have something in writing in order for colleges to alter an award. We will provide specific guidance on this.
Strategy
We take a four-pronged approach to appeal awards;
(1) A letter and engagement from the student (see video below)
(2) a letter from the parent
(3) leveraging other financial aid and merit based awards
(4) leveraging our network of financial aid counselors
Watch a video on the process and access appeal letter templates here or visit our College Planning Resources page for more information.
Read our related resources:
Take these steps to appeal your financial aid award.