Updated: Jan 07, 2022

Financial Aid
How to appeal your financial aid award letter
Does your financial aid award letter fall short of what you need to pay for college? Learn how to appeal an award letter with Discover Student Loans.
College acceptance season is an exciting time—high school seniors across the country find out which colleges and universities are offering them a spot, and start making decisions about where to attend. A big part of that decision-making is the financial aid award letters that students also receive. These can sometimes bring stress and confusion, especially since award letters can be difficult to decipher from one school to another.
Financial aid award letters generally include grants, scholarships, work-study programs, federal student loans, and your Expected Family Contribution (EFC). Because each school uses its own template for award letters, it can be challenging to compare college costs apples-to-apples. But evaluating them doesn’t have to be complicated. Just follow these five steps.
Your award letter may contain a mix of different types of aid, each of which can help you financially in different ways.
When you're ready to compare financial aid, first gather all of your award letters and a highlighter. Carefully read each letter, highlighting each type of aid and the amount offered. You may want to use two different colors to highlight: one for loans that will need to be repaid and another color for scholarships and grants that do not need to be repaid.
There are tools, such as the Award Letter Comparison tool from Discover® Student Loans, which can help guide you through the process of comparing your award letters. It is important to understand and compare the various types of aid you are being offered (free money vs. money you must pay back) and how much money each school expects you and your family to contribute to your education.
Financial aid offers typically cover only one year in school, so families must complete the Free Application for Federal Student Aid (FAFSA®) every year. Some aid like scholarships or grants may be guaranteed for four years, though most are only guaranteed for the first year. Families should inquire with the college’s financial aid office about the likelihood of aid being extended and get the answers to their questions in writing.
Students can and should continue applying for outside private scholarships, since that is free money that doesn't have to be paid back. Leverage scholarship search tools, such as the Free Scholarship Search from Discover Student Loans, to help in your search for these scholarships.
Keep in mind that when you compare college costs, price isn't the only factor. You should also consider location, academic rigor, graduation rate and employment rate. Pick the school that will give you the best combination of education and experience and leave you with the least amount of debt.
FAFSA® is a registered trademark of the US Department of Education and is not affiliated with Discover® Student Loans.