With deadlines to accept financial packages looming, are your students confused about award letters? Here are some tips and a free handout to walk students through their letters:
Make sure students check the deadline. Most colleges and universities require a response by May 1.
Explain the differences between these kinds of financial aid:
- Grants and scholarships
- Loans
- Work study
Help students understand next steps: In addition to a signed copy of the award letter, is the school asking for other paperwork?
Free handout: Download our “Understanding Award Letters” handout, including a sample award letter,
here.
One piece of information missing in this resource is the difference between
subsidized and unsubsidized loans. You may also want to share the above link with parents to help them understand the difference.