Working with Financial Aid Officers
Posted 18 Mar, 2009
There’s no getting around it–times are tough–and families with college-bound students are really feeling the pressure. As parents we want to help support our children, but with the inescapable and constant news about the failing economy, it is hard to see the light at the end of the tunnel.
Updating Outdated Information
Many of you are in the process of reviewing and comparing your student’s financial aid award letters, attempting to determine which schools have provided the best offers to minimize your family’s out-of-pocket cost. As you will remember from filing the FAFSA, any need-based aid is based on your income from last year–and your circumstances may have changed since then.
Don’t think that you’re stuck with these numbers!
It is perfectly acceptable to submit updated information to your student’s financial aid office if your family has experienced one of the following:
- Loss of job,
- Significant loss of income,
- A one-time bonus that will not be repeated this year,
- Other extreme financial hardship (such as illness, drop in value of your assets, etc.).
Contact your student’s financial aid office to notify them of any of the above items. Explain to them that your family is struggling, and ask if there is anything they can do to help.
Never “Negotiate”
One of the biggest mistakes parents make when working with financial aid officers is treating them like “the opposition.” Some parents are rude, demanding and unprofessional when communicating with the financial aid office. Think about the person on the other end. If you were dealing with a parent like this, would you be motivated to find ways to make concessions? I don’t think so! Some parents also approach an as a appeal a one-sided negotiation. The parent treat the financial aid officer as if he or she is out to get them–this can certainly prevent your relationship from starting off on the right foot!
Yes, financial aid officers want to do what is best for the school that employs them, but most also want to try to help your family as much as possible (especially when there are legitimate circumstances present that are affecting a family’s ability to pay!) That is why it is so important for you remember that old adage, “You’ll catch more flies with honey than with vinegar!”
So when you deal with a financial aid officer at your child’s school, treat him or her as if you are on the same team. Explain your family’s situation to them, and ask for their help, advice, and suggestions. Be friendly. Be courteous. Keep in mind these people are in a very stressful situation right now trying to figure out how to fairly allocate a finite pool of funds. Build a relationship that will motivate them to go the extra mile for your student. And never use the word “negotiate!”
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
Photo by Franque
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There’s no getting around it–times are tough–and families with college-bound students are really feeling the pressure. As parents we want to help support our children, but with the inescapable and constant news about the failing economy, it is hard to see the light at the end of the tunnel.
Updating Outdated Information
Many of you are in the process of reviewing and comparing your student’s financial aid award letters, attempting to determine which schools have provided the best offers to minimize your family’s out-of-pocket cost. As you will remember from filing the FAFSA, any need-based aid is based on your income from last year–and your circumstances may have changed since then.
Don’t think that you’re stuck with these numbers!
It is perfectly acceptable to submit updated information to your student’s financial aid office if your family has experienced one of the following:
- Loss of job,
- Significant loss of income,
- A one-time bonus that will not be repeated this year,
- Other extreme financial hardship (such as illness, drop in value of your assets, etc.).
Contact your student’s financial aid office to notify them of any of the above items. Explain to them that your family is struggling, and ask if there is anything they can do to help.
Never “Negotiate”
One of the biggest mistakes parents make when working with financial aid officers is treating them like “the opposition.” Some parents are rude, demanding and unprofessional when communicating with the financial aid office. Think about the person on the other end. If you were dealing with a parent like this, would you be motivated to find ways to make concessions? I don’t think so! Some parents also approach an as a appeal a one-sided negotiation. The parent treat the financial aid officer as if he or she is out to get them–this can certainly prevent your relationship from starting off on the right foot!
Yes, financial aid officers want to do what is best for the school that employs them, but most also want to try to help your family as much as possible (especially when there are legitimate circumstances present that are affecting a family’s ability to pay!) That is why it is so important for you remember that old adage, “You’ll catch more flies with honey than with vinegar!”
So when you deal with a financial aid officer at your child’s school, treat him or her as if you are on the same team. Explain your family’s situation to them, and ask for their help, advice, and suggestions. Be friendly. Be courteous. Keep in mind these people are in a very stressful situation right now trying to figure out how to fairly allocate a finite pool of funds. Build a relationship that will motivate them to go the extra mile for your student. And never use the word “negotiate!”
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
Photo by Franque
Subscribe in a reader
Subscribe by Email
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