Comparing Costs

COMPARING SCHOOL OFFERS  

Each school you applied to will send you a notice either electronically or by mail of your acceptance or rejection. If you get accepted by more than one college (which is always the hope), carefully review the financial packages. If you get a large award, don’t be overcome by it. You must look at the net cost of attending!  SEE BELOW FOR THE FORMULAS TO BEST EQUALLY COMPARE SCHOOL OFFERS!


FOLLOW DIRECTIONS CAREFULLY!
Besides your acceptance, your letter will probably also contain instructions on how to accept the aid package and where to call if you have questions. It will probably be a thick packet of supplementary documents: promissory note for any loans offered, work study information, housing information and more. If you do Early Action on some schools, the financial information may come later than the acceptance letter. 


STILL TORN BETWEEN SCHOOLS?
If needed, visit the colleges that accepted you to compare them one more time. You can also go online and enter college chat rooms, social networks, and opinion sites to read what students think about their colleges. Moreover, you can also search online for college reviews written by students.

THANKS BUT NOT THANKS

Once you get all your paperwork returned to your chosen college, then send letters to the other schools that you applied to (admissions and financial aid) and let them know you have accepted another offer. Thank them for their consideration. Students on waiting lists will really appreciate you doing that.







WHAT TO COMPARE
  1. Grant amounts Renewable or one time?
  2. Scholarship amounts Renewable or one time?
  3. Loan amounts Subsidized, unsubsidized, interest rate, loan length and other terms
  4. Plus loans How much? (keep to a minimum)
  5. Living expenses
  6. Transportation costs
  7. Actual payment
  8. Estimated debt after graduation






Comments