Preparing Financially for College

Preparing Financially for College

Reading – and understanding – your financial aid award letter is a key part of assessing the cost of your college education. To support you in the process, we have provided information to explain the total cost of attendance, award letter and financial aid package. You will also find resources to help you determine the best financial choice you.

What Is a Financial Aid Award Letter?

A financial aid award letter is the notification that students receive informing them how much financial aid a school is willing to offer.

All students that submit a Free Application for Federal Student Aid (FAFSA), were approved for aid, and accepted by a school will receive a financial aid award letter from that school. Financial aid award letters are only for one year of school. You’ll need to complete the FAFSA every year to determine what aid you are eligible for and you’ll receive a new award letter every year with that corresponding FAFSA submission.

Award Letter Definitions & Key Components

The first step to reading financial aid award packages is to understand the elements they include. Here are the main parts to look for:

Accordions