College in the US these days, students are more concerned about how they will pay the tab than they are about getting in.
Understanding Your College Acceptance And Financial Aid Letters – Here’s How! (PHOTO: CNBC)
Us College Acceptance
Most families in the US find it hard to afford higher education and those costs are only are still rising. According to the College Board, tuition and fees plus room and board for a four-year private college averaged $53,430 in the 2022-2023 school year; at four-year, in-state public colleges, it was $23,250. For most students and their families, which college they will choose hinges on the amount of financial aid available, which is detailed in each school’s financial aid award letter.
What Is a College Financial Aid Letter?
One of the first things to understand when evaluating a financial aid award letter is the notification that students acquire informing them how much financial aid a school is willing to offer.
All students that applied for a Free Application for Federal Student Aid (FAFSA), were authorized for aid, and are accepted by a school will obtain a financial aid award letter from that school. You may see that this notice is directed to by names such as “financial aid offer,” “FAFSA award letter,” “financial aid award letter” or “financial aid package,” but they are all practically the same.
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