Friday, Mar 23 2018 | Updated at 02:42 AM EDT

Stay Connected With Us F T R

Mar 14, 2017 12:15 PM EDT

If you are about to enter college and have been accepted to a number of colleges, one of your biggest dilemma could be choosing and deciding the college to attend. And one of the things you might need to consider in your decision making is the financial offer of each of those institutions.

If you find it a bit difficult to read and understand what your financial aid letters say, here are some tips to keep you guided.

Break down the components

The first thing you will have to do is to separate scholarships and grants from student loans, according to CNBC. This way, you will be able to come up with the true cost of how much money you will be getting out of your own pocket because you will not have to repay scholarships. Your calculation will show the difference that you can use for your comparison of offers.

Focus on the net cost

The net cost or the net price is the cost of the attendance minus the total amount of financial aid offered by the school, according to Smart Asset. Loans will eventually have to be paid back after graduation, so you have to make sure to come up with the right calculation to determine which college makes the best financial offer.

Know what the is included in the college cost's estimate         

Check the breakdown of the college cost and see if it includes other expenses like the transportation or the travel costs to and from your college, the tuition, board, room, etc. Then consider other expenses which are not included so you can see which college has the better offer.

Think about the long term       

Instead of thinking about the benefits of the offer for a year, think about how it will be helpful in the years after your first year in college. Also check if there are other requirements such as meeting the minimum GPA.

Follows college students, guide, decipher, financial aid package
© 2017 University Herald, All rights reserved. Do not reproduce without permission.

Must Read

Here is NASA’s Take On Anonymous Hackers Alien Claims [VIDEO]

Jun 28, 2017 AM EDTNASA official says no alien has been found until today.

International Cyber Attack Strikes Again: Ransomware Hits Companies Worldwide [VIDEO]

Jun 28, 2017 AM EDTOver 2,000 computers in about a dozen countries were affected.

The Magic of Celebrity Involvement: How Projects and Concepts Get Public Nod When Icons Get Involved [VIDEO]

Jun 28, 2017 AM EDTDo celebrities really affect marketing?

Student Loans In Focus: How Much Do Students Really Borrow To Attend The Top 10 Schools [VIDEO]

Jun 26, 2017 AM EDTFor most students, going into the Top 10 schools is a dream come true. But is the expense in studying in these schools worth it?