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FINANCIAL AID Comparing Financial Aid Awards6The BIG Idea How do I compare financial aid award packages and decide which to accept?AGENDA Approx. 45 minutes I. Warm Up (5 minutes) II. Financial Aid
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How to fill out comparing financial aid awards

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How to fill out comparing financial aid awards

01
Gather all the financial aid award letters you have received from different colleges or institutions.
02
Review the letters carefully to ensure that you understand the terms and conditions of each award.
03
Make a list of all the components of the financial aid packages, including grants, scholarships, loans, and work-study opportunities.
04
Calculate the total cost of attendance for each college, taking into account tuition fees, room and board, books, and other miscellaneous expenses.
05
Determine the net price of each college by subtracting the total amount of grants and scholarships from the total cost of attendance.
06
Consider the types of aid offered by each college and evaluate whether they are renewable or for one-time use only.
07
Assess the loan options available and compare the interest rates, repayment terms, and overall debt burden.
08
Take into consideration any special circumstances or additional aid you may be eligible for, such as state grants or institutional scholarships.
09
Compare the financial aid awards side by side and analyze which college offers the most favorable financial package.
10
Seek advice from a financial aid counselor or advisor if you need help understanding or comparing the awards.

Who needs comparing financial aid awards?

01
Students and their families who are considering different college options and need to make informed decisions about which institution offers the most favorable financial aid package.
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Comparing financial aid awards is the process of reviewing and assessing the financial aid offers received from different institutions.
Students who have applied for financial aid from multiple institutions are required to file comparing financial aid awards.
To fill out comparing financial aid awards, students should review and compare the details of each financial aid offer, including grants, scholarships, loans, and work-study opportunities.
The purpose of comparing financial aid awards is to determine the most cost-effective and beneficial financial aid package for the student's education.
Information such as tuition costs, living expenses, grants, scholarships, loans, and work-study opportunities must be reported on comparing financial aid awards.
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