Potential Magazine College and Career Organizer 2020 | Page 36

scholarships
scholarship negotiation
Sponsored by:
(a n d r ec ei v e!)
How to Ask for
More Scholarship
Money
BY ANGIE HAYDEN
Here’s a little secret to remember as those college
acceptance and scholarship award letters arrive:
The scholarship offers that schools initially send
might not be the best possible offers you can get!
Did you know that once you receive scholarship offers from
colleges, you may actually be able to negotiate for more?
OUR EXPERIENCE
As my daughter was deciding where she would attend college,
two of the schools she loved offered her scholarships that differed
by around $1000 per year. She began to feel that the school
offering the smaller scholarship was a better fit for her, but she
didn’t want to say no to more money. In the end, one short email
was all it took and within a few days the admissions office at her
preferred school contacted us to let us know that they had found
an additional $1000 per year for her.
With one five minute email, we earned four thousand tax-free
dollars. Over four years, that equates to almost an entire year of
dorm room costs, or around three years of student meal plans!
Cha-ching!
Justify Your Request
There are two main circumstances that are most likely to qualify
you for more financial aid or scholarship money:
• There is a significant difference in your family’s EFC (Expected
Family Contribution) on your FAFSA and your actual ability to
pay for college expenses. Have you had unusual medical bills
over the past year or recently lost a job? Your financial reality
is measurably different from what the FAFSA portrays, you
should make it known to the school in writing and be prepared
to show documentation.
• Another school has made a more attractive offer. This was
the case with our daughter. When citing this reason in your
request, include the competing offer. Also keep in mind that a
larger dollar amount award might not necessarily mean a better
offer if the cost to attend is higher, so consider your out of
pocket expenses rather than the dollar amount of the scholar-
ship and base your request on that.
Be Realistic
SO EXACTLY HOW DOES IT WORK? Be honest and keep your request within reason. If you are going
to use another college’s offer as leverage they should be fairly
comparable. You also shouldn’t expect the financial aid office
to offer more due to high mortgage payments or other regular
expenses that are within your control to change.
Put It in Writing Timing is Everything!
You might think that a phone call is more personal, but if you
put it in writing, you have a record of your request (and their
response!).
Choose the Right Words
Your letter or email doesn’t have to be lengthy or complicated.
Express that their school is your first choice, but your decision
must also be dependent on what makes financial sense, so you
are seeking additional funds to make it possible. State clearly the
reasons you are requesting more money, and that you would be
grateful for any additional help they can provide.
36 | College Organizer 2020
It can be most beneficial to ask for more money in the window
soon after receiving the school’s offer but before sending in any
deposits. The reason is twofold:
• Extra scholarship money may be depleted if you wait too long
to make your request.
• Once you have committed with a deposit, schools may feel less
pressure to offer any extra incentives.
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