It might surprise you to learn that financial aid offers are not set in stone. Kalman Chany, founder and president of New York-based Campus Consultants, says that some schools have become far more flexible about their initial offers over the past few years. If you receive a package that does not meet your need, plead your case by phone or in person to a financial aid officer. The more they want your child, the more likely they are to sweeten the pot. "Before you call, you should have gathered all the supporting ammunition you can in front of you," Chany writes in his book "Paying for College Without Going Broke." "If you've received a better offer from a comparable school, have it in front of you when you call, and be prepared to send a copy of the rival award letter to the school you are negotiating with." He notes, too, that you should explain clearly any special circumstances such as high margin debts or other expenses, such as support of an elderly relative, not accounted for by the aid formula. Also, let them know if your circumstances have changed since you filled out your need-analysis form, including a divorce or loss of job. Finally, you might gain some sympathy if you have more than one child in college at a time. Financial aid administrators may lower your family's discretionary income figure used to determine the college kids' financial aid package. |