Create a chart that lists each of these components in a separate column so that you are able to view the data in a simple format. In your chart, you should also include the total amount of write essay for you have been awarded that does not require repayment. Subtract this number from the overall cost of attendance. The remaining amount is the portion you are responsible for. Because work-study is akin to employment, consider it separately. List those loans available to you, and identify potential financial gaps. With this chart, it should be easy to determine which packages are superior.

Be cautious and critical

While comparing financial aid awards is relatively straightforward, it can be difficult to look toward your financial future. Ask if each institution front-loads its financial aid offer, providing more funds to freshmen than sophomores, and less still to juniors and seniors. The cost of your education will increase every year, so you will want to ensure that you have the funds to finish.

Certain schools also amend their awards based on the number of private scholarships a student receives. Inquire as to whether your prospective college or university has a plan for working with your other aid sources.

Speak with a school representative

If you have additional questions regarding your financial aid award letter, speak with a representative from each school you are considering. They will help you decipher especially confusing elements of your package, as well as offer additional insights. You will likely have the chance to pose specific and key questions, such as, "Are there limitations on when and how much I can work?" and, "Are there minimum grade requirements?"

While it may seem counterintuitive, it is important to remember that the most expensive colleges and universities on your list may not cost you the most money to attend. Look carefully at your award packages, and evaluate your options before you commit to a program!

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