Want help? You don’t have to simply accept the aid that is offered, according to Reecy Aresty of PayLessForCollege.com, who specializes in helping you gently negotiate a higher award of money that does not have to be repaid.
Arresty offers a free review of financial aid packages to my readers. If you hire him to negotiate on your behalf, the fee ranges from $195 to $395, depending on the number of schools involved. You can e-mail him at Reecy@PayLessforCollege.com.
Says Aresty: “Although May 1 is the deadline for non-refundable deposits at many schools, some families opt to make multiple deposits in order to keep the aid appeals process going beyond May 1.” Aresty notes that if the aid offers are close, it may be worth losing a deposit at one school to gain more grants of money at another.
Signing on for a financial aid package is one of the largest financial decisions any family can make, so do your research and don’t just look at the bottom line. Like your home mortgage, you expect to repay this loan over the years, while the value of the asset — your home or your education— grows over the years. As we’ve all learned, that’s a good idea over the long run — but the payments can be a huge burden over the short run