Friday, April 19, 2019—In just two weeks, on May 1, prospective college freshmen all over the country will have to make a decision about where they will enroll next fall. But before students make their College Decision Day selection, many will need to consider and compare financial aid offers from different schools.
This can be an exciting but stressful time for families as they weigh which school best fits their student’s needs academically and socially against which school is the best fit for their family from a financial standpoint. One of the biggest factors in choosing a college is cost, but comparing financial aid award notifications can sometimes be difficult because different schools have different resources, so financial aid offers—and the way they are presented—can vary greatly.
The National Association of Student Financial Aid Administrators has developed an Award Notification Comparison Worksheet that students can utilize to help make the process of reviewing financial aid award offers a bit simpler. The worksheet includes a glossary of terms commonly found in award notifications and provides tips students can follow when comparing financial aid offers.
“Too many students end up not enrolling in college because they think they won’t be able to afford it or don’t fully understand their options,” said Megan Coval, NASFAA vice president of policy and federal relations. “With this tool we’re aiming to demystify the financial aid process so parents and student can more clearly understand what is being offered and what the terms are of that aid. As decision day approaches, financial aid administrators across the country also stand at the ready to help answer any outstanding questions, no matter how small, about paying for college.”
NASFAA encourages prospective students and parents to reach out to financial aid offices at potential schools with any lingering questions. To request an interview with a NASFAA spokesperson about what students and parents should take into consideration when making their college-going decisions, please email firstname.lastname@example.org or call (202) 785-6959.
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 28,000 financial aid professionals at nearly 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every ten undergraduates in the United States. Based in Washington, D.C., NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators. For more information, visit www.nasfaa.org.
Publication Date: 4/19/2019