Among the three or four most frequently asked questions about financial aid is whether or not it is possible to ask for and receive an increase in aid.

Like most questions about financial aid, many variables must be considered before coming up with an answer. And, there is no “one size fits all” answer.

It is true, however, that it may be possible to wind up with an improved scholarship or financial aid package after an exchange with an admissions or financial aid staff member.

Virtually all colleges and universities require students seeking financial aid to answer questions on a federal form (called a FAFSA) designed to provide an indication of a student’s need for financial aid. Some private colleges also use a second form to obtain additional relevant financial information.

It is the information therein collected that enables colleges to get a picture of a student’s financial need. While not all aid requires financial need, federal grants and subsidized loans do. And, federal funds may not be used to award students dollars in excess of their demonstrated need.

Therefore, the only way to get an increase in the amount of federal aid offered to you in your initial financial aid award letter is to convince a financial aid officer that there has been a significant change in your financial standing since the submission of your FAFSA or that there are special circumstances not reflected in your FAFSA answers. If you can prove what you say, you will have a chance.

Institutional financial aid, however, can be a different story. Individual colleges and universities can offer you grants and scholarships even if you have no financial need. But, not all choose to do so. The very most selective colleges tend to offer money only to those with demonstrable financial need (and meet the full need of all students).

Other colleges and universities, especially second and third tier privates, often use institutional scholarships to compete with more selective and/or less expensive colleges. Such schools are generally very comfortable using their own dollars to sweeten the pot for high-achieving students.

As a result, students bound for colleges in this category may have some luck in upping their financial aid package if they can point to other institutions which have offered them better packages or make a convincing case that the initial financial aid package presents a difficult financial challenge. These kinds of appeals should be made to an admissions counselor or to the Dean of Admissions.

When requesting more aid…need based or otherwise…remember that you are not buying a car. Ultimatums, rudeness, and aggressive behavior will surely be counter productive. And, you must remember that admissions and financial aid offers do not enjoy unlimited discretion. While I would not encourage anyone to try to save the last dollar on educational costs, there is no harm in requesting necessary help.

Source: Daniel Kane

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