Mar 23, 2017 01:38 PM EDT
Because of the rising cost of college, many students have a lot of misgivings whether they should go to college at all or not. Those who do so find themselves with student loan debt they couldn't afford to repay. However, experts say that there are many ways how to get additional funding beyond Free Application for Federal Student Aid or FAFSA.
Submit an appeal letter showing the change in your financial situation
Kelly Peeler, founder of the startup NextGenVest, advise seniors that the best way to negotiate more financial aid from FAFSA is to show them that your financial situation (if any) has changed since you filled out the initial form.
If your situation has indeed changed, update your forms immediately and write and appeal letter telling them exactly how your financial situation changed.
Let colleges compete for you
Colleges are competitive and they want to get more students as much as possible. You can use that by sending them a letter saying you want to go to there but another college is offering you and they're giving you more money for scholarship.
Students should have a consumer attitude when they think about college education. They should negotiate until they can get what they want. It's as if they are buying a house.
Go back after the deposit's due
Another tactic that could get students more financial aid is follow up the school they want to go to after the deposit's due. That's because at this time, schools already have an idea who is coming and how many. Some schools who have overestimated their popularity and ended up with few students than they expected might be willing to give out those extra more dollars lying around. It doesn't hurt to ask or negotiate.
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