Updated: Apr 28, 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.
If you’ve exhausted other sources of funding like family help, grants, work study, and scholarships and still have a gap between what college costs and what you can afford, it may be time to turn to student loans. If so, you’re not alone—more than 60 percent of college students graduate with some form of student loan debt, reports The Institute for College Access & Success. But how much can you borrow? Limits vary depending on the kind of loan you’re interested in, as well as your year in school.
These loans are originated by the federal government. To qualify, complete the Free Application for Federal Student Aid (FAFSA®), which schools use to determine eligibility. If you are eligible, federal loans will be included in the award letters you receive from the schools you've been accepted to. There are a few types of federal student loans, with different limits on borrowing amounts:
Direct Subsidized Loans
Direct Unsubsidized Loans
This five-step process can help you determine how much to borrow.
Check your school's website for the annual cost of attendance. Typically, this number will include tuition and fees, housing and living expenses, books and supplies. You can also use their net price calculator to estimate your cost to attend.
Add up how much money you already have for college, from things like grants, scholarships, family contributions, savings, and earnings from working.
Once you determine how much money you already have toward college costs, you can estimate how much you may still need to cover.
The Federal Work-Study Program is a part-time employment program funded by the government. It allows students with financial need to earn money to help pay for college. You indicate your interest when you complete the FAFSA and may receive it as part of your award letter. If you’re eligible, apply for positions. If not, seek out other employment to help offset your college expenses.
Once you receive your award letter, you will know how much in federal student loans is available to you. You can then use this student loan calculator to estimate how much you still need to cover.
We recommend you exhaust savings, grants, and scholarships before taking out loans. If you do need to borrow, compare federal and private student loans and choose the loans that best fit your needs.
FAFSA® is a registered trademark of the US Department of Education and is not affiliated with Discover® Student Loans.