Tuesday, March 10, 2009

“We received a TERRIFIC Financial Aid Package for our student…………”

How many times have you heard this comment from a friend or acquaintance??
Recently I was discussing the high cost of attending college with a friend.
When he mentioned the college his daughter was attending, I responded how expensive that particular school was (almost $50,000 per year!!). My friend replied that she would never have gone to that school but “they offered her a terrific financial aid package”.

That caused me to think, has anyone ever told you that their son or daughter received a TERRIBLE financial aid package? Perhaps one of the reasons we have not heard this, is that the college ALWAYS says that we are offering you a GREAT financial aid package!!

In analyzing our clients’ college financial aid packages, we have found that the offers that most parents feel are good--------------are MEDIOCRE at best.

The ONLY way to truly understand the worth of a college financial aid offer is to compare it to offers given in the past to students and families in similar situations.
Of course, our statistical database allows us to do that, and also empowers the family to negotiate with the college in an effort to increase the financial aid package.

So the next time you hear about a “terrific financial aid package”----------a GREAT response would be------------------“compared to what??”

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