Feb 26, 2015
College Costs
Does it Pay to Stay in State?
It is a common belief that out-of-state tuition can be more expensive than in-state tuition. Check out which states offer affordable costs to attend state schools.
The award letter details how much support the school can provide to help you pay for college.
For the schools you have been accepted to, you'll start receiving award letters as early as February, and you should have all of them by April. A letter may include grants, scholarships and work-study programs, along with eligibility for federal student loans.
Award letter templates can vary, so make sure you carefully review each letter as you compare financial aid packages from different schools.
To determine which financial aid package best meets your needs, you may want to create a document that compares the financial aid from each school, including:
- Cost of attendance
- Grants and scholarships
- Work-study programs
- Federal student loans
- Expected Family Contribution (EFC)
- Amount needed to cover the total cost of attendance
Award Letter
Some schools will ask you to accept or reject each source of financial aid you are eligible to receive. If you reject a certain source of aid in your award letter, that does not mean another source of aid will increase.
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