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Published June 14, 2019 | Last Updated August 5th, 2023 at 12:29 pm
As you prepare to apply for college, or even as you go on college visits, it can help to get an idea of what to expect as you figure out how to pay the bill. Financial aid interview questions can help you determine which schools are likely to provide you with the best package.
A successful call to your preferred college’s financial aid office is all about asking very specific questions.
For instance, before you call, you don’t know if they weigh New York City income differently than Omaha income.
While you will never get the answer to how much aid your student will receive beforehand, you will be able to find out if there are extra scholarships that they can apply to or what makes your student a good financial fit for their school.
Here are some of the most important questions to ask financial aid officers as you contemplate which school works best for you.
Find out how much financial aid is available to students. You should also ask how much the financial aid covers, including finding out if:
It’s important to have a good idea, going in, what to expect in terms of total coverage.
Ask financial aid officers what applications they need. Some of the most common financial aid applications include:
In many cases, especially for need-based financial aid, schools expect you to fill out the FAFSA. You should fill out the FAFSA in any case, just to make sure you have access to all the federal financial options, including student loans, available to you.
Find out if you have to fill out separate applications for merit-based aid, and check with the financial aid office to confirm the deadlines for all applications if you’re looking for financial aid. Deadlines for financial aid may be different than deadlines for admissions AND deadlines for merit aid may be different than other deadlines as well.
In addition to finding out about financial aid, some of the questions to ask financial aid officers include those about options for paying for school. Find out:
Sometimes deciding what financial aid package to accept depends on different factors. Consider all the options you have to pay for school and see which package combines what you need with a certain degree of flexibility.
Once the school has offered you a financial aid package, it’s important to make sure you understand the terms and conditions involved with maintaining your aid. Which aid is being offer based on your family’s financial need and which aid is based on the student’s merit.
Unfortunately, students are not likely to receive the same amount of need based financial aid every year. This can be a good thing or a bad thing but too often is a bad thing.
Students must apply for financial aid each year and any changes in their families’ circumstances can affect their EFC and the amount of money awarded.
For merit scholarships, it’s important to find out if there are requirements to maintain a certain GPA, re-apply for aid each year, and if there are other circumstances you need to meet.
It can be difficult to figure out exactly what a school includes in their net cost estimate.
This is your time for digging in on the details.
Was the net cost to parents after student loans or work study? What meal plan was included? What kind of scholarships are included?
Before you do anything else, you should makes sure there isn’t a single category that you do not understand.
Especially with schools that use the CSS profile, they may take into account whether your cost of living is higher than another area of the United States.
Taking cost of living into account can help with both comparing incomes and home equity among students.
Thus, make you sure you ask whether cost of living adjustments are made solely on income or if assets are considered as well.
Whether a school counts private scholarships you’ve earned against student loans or scholarships from the college varies from school to school.
The difference can mean thousands to how much you’d have to borrow for school.
For instance, let’s say two schools offer you $10,000 in scholarships and grants.
And, you receive a $5,000 private scholarship.
One school deducts the $5,000 you receive from the scholarships and grants offered, so in essence, that school now only offered you $5,000.
The other school deducts the scholarship from the amount you were offered in student loans.
As long the cost of attendance isn’t $5,000 more, your student will go into less debt if choosing the second school.
Whenever your student is talking with a representative from the college, you always want to ask about scholarships for a major or talent that may not be represented in a net price calculator.
Since the school only offers money based on what they know about the student, being able to talk about talents, etc. either in the application or by phone can open up new scholarship possibilities.
The amount a school has to give can vary widely from year to year.
They may not always know if more money might come from additional fundraising, but it’s always a good idea to ask.
Also, ask if there are students who may be affected more than others.
For instance, if there’s a decrease in funding, is merit aid or financial need- based aid affected more?
Maybe there’s a school you like, but you’re not happy about the financial aid package. In that case, you need to know how to ask a college for more financial aid. Here are some tips that can help you potentially appeal and boost your financial aid offer:
You can also find out if there’s additional money available once you’re no longer a freshman, and ask about additional opportunities.
By knowing which questions to ask financial aid officers, you’re more likely to get a clear picture of which school is going to give you the best deal. You might not be able to go to your first choice school, but with the right approach, you can still get a good education without breaking the bank.
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Use R2C Insights to help find merit aid and schools that fit the criteria most important to your student. You’ll not only save precious time, but your student will avoid the heartache of applying to schools they aren’t likely to get into or can’t afford to attend.
Other Articles You Might Like:
Financial Aid and More: How to Pay for College with No Money
How to Motivate Juniors to Start the College Process
Don’t Be Overly Optimistic About Financial Aid
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Editor’s Note: Monica Matthews is the author of “How to Win College Scholarships.” She helped her son win over $100,000...
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