Financial Aid 101 | The Guidebook on Negotiating College Financial Aid
So your child got accepted to college and the school even gave you financial aid - that's great!
But unfortunately, the amount they offered you wasn't enough, and you are worried that you won't be able to send your child off to college. But did you know you can appeal your offer and get more money!
Here's why all college students should appeal your financial aid offer.
Cars & Colleges Have a Negotiable Sticker Price
If you have ever bought a new car from a dealer, you may have encountered the term Manufacturer's Suggested Retail Price (the MSRP is also known as the sticker price).
Carmakers set the MSRP to help separate you from your money, keeping more profit for the car dealer. And f you have ever bought a new car, you know you should NEVER pay the MSRP.
Many people hate buying a new car because they often feel the dealership took advantage of them. Car dealers use so many different gimmicks to distract you from several hidden costs that drive up your cost and increase their profit.
I'm saddened to say that colleges also have many hidden costs (I should know, I have one child in college).
A few of colleges' hidden costs:
health center fees
study activity fees
transcript & graduation fees
dorm increases based on location/newness of buildings
athletic program fees (sometimes several thousand dollars)
The list goes on and is also evident in the front-loading of grants before future tuition hikes.
Colleges are, first and foremost, a business. A very big business.