What is a Financial Aid Appeal Letter?
As a student, your financial aid appeal letter is a powerful tool. It's a formal request to the college financial aid office to reconsider the financial aid package received. The appeal letter provides details supporting the reasons why you may need more financial assistance.Writing a Financial Aid Appeal letter
Your financial aid appeal letter should be clear and concise. You'll need to explain your current financial situation and provide well-supported evidence. Do not overcomplicate your appeal letter.
What Should be Included
A financial aid appeal letter aims to show financial need and justify why the school should provide additional assistance. Include the four elements below in your appeal letter: Greeting and Intro Start your letter on a positive note. Express your gratitude and establish a connection. Consider calling the financial aid office to inform them about your appeal letter and to find the appropriate person to address it to. Using a name in your greeting makes the letter more personal. Include the financial aid award year you're referring to and a brief statement on why you're writing to appeal your financial aid Explanation and Details Clearly explain why you're appealing the decision. Be specific about changes in your financial situation. Include dollar amounts or percentages to illustrate your financial situation and the impact of the changes, making your appeal more compelling. Colleges are required to share their Cost of Attendance (COA) on their website. You may want to compare the college COA with your award package to get a clear financial picture of your out-of-pocket costs. Provide relevant details and documents supporting your appeal, including tax returns, medical bills, or letters from employers. If the reason for the appeal is due to an error in your original application (like a missed form), explain that clearly.Financial Aid Appeal Letter Sample
Why Should You Write a Financial Aid Appeal Letter?
There are many good reasons for a financial aid appeal, like a change in your family’s financial situation. A change in circumstances since you submitted your FAFSA may include: Change in Family Income: For instance, a parent may have lost a job, your family took on unexpected medical expenses due to an injury or illness, or divorce may limit funds to help pay for school. Unexpected Financial Burdens: Expensive medical bills, extreme damages to a home or primary residence of dwelling, or even a death resulting in funeral costs, are examples of unplanned monetary burdens. Better Offer: Reviewing financial aid award letters is an important part of making a college decision. If you receive a better offer from another college, you could use this to leverage your request for more financial aid. Errors: If you made a mistake on your FAFSA or discovered a miscalculation in the award letter, you should write an appeal letter.When Should You Appeal Your Financial Aid?
Don't wait to appeal your financial aid award letter. If the proposed aid is insufficient for attending school, begin your appeal ASAP. Many colleges have limited state and federal funding, so appealing earlier boosts your chances of getting more financial aid. You should also call the college's financial aid office or visit their website to learn about the appeal process. Some schools have required forms, and you may need to submit your appeal letter electronically or via email.How long does the appeal process take?
The timeline for the financial aid appeals process varies, but it can take up to a month. Timing depends on several factors, such as appeal structure and review periods set by the college financial aid office. Complex appeal cases, such as job loss, medical emergencies, or natural disasters, usually require further verification from financial aid officers. There is also a busy season during which the financial aid office tends to receive appeals. A more significant number of appeals typically occurs at the start of a semester. Ensure your appeal letter request is complete and not missing any documentation; any follow-up will add additional review time.What are my chances of getting approved?
If your reasons are valid and you provide the proper, documented reason for your request, you'll have a better chance of approval. High-achieving students may also have a better chance of receiving more financial aid. A decline in enrollment could positively impact the odds of a student getting more financial aid due to an appeal letter. Many colleges and universities have yearly enrollment goals. A limited budget for financial assistance at the school would limit the odds of a substantial financial aid revision.What happens if my financial aid appeal is denied?
Rather than a firm denial, most colleges will offer additional financial solutions even if your appeal cannot be fully granted. These may include work-study opportunities, scholarships, or private student loans as options. As federal student loan and private student loan rates have and continue to increase, applying for scholarships should be a part of financial plans helping students pay for their education.You Might Also Like
Shawna Newman
Managing Editor, Contributing Writer
Shawna Newman is the Managing Editor and a writer at Fastweb. She has over 10 years of experience in higher education. Her direct work with college admissions teams, financial aid officers, college deans, ...
