Key takeaways:
- If your financial aid package isn’t enough to cover attendance or another school offers more, students may want to negotiate with their college for a larger scholarship.
- To increase the likelihood of approval, have a specific and realistic number in mind and be polite.
- Generally, students cannot negotiate higher scholarships with outside organizations, as those awards are predetermined and funds are limited.
Did you know that your financial aid award letters may not be written in stone? In fact, many colleges allow you to negotiate your scholarships and ask for more – but you generally need a good reason. If your aid offer wasn’t enough to cover the cost of attendance at your dream college, here are some steps and ways to ask for more.
Can you negotiate scholarships?
Yes, you can try to negotiate scholarships with colleges. Their answer depends on the college, their financial aid policies, your financial need, your student portfolio, and available endowment.
You typically can not negotiate scholarships with outside organizations, as their awards are set to specific amounts already based on available funding for that year.
How to negotiate scholarships
To negotiate scholarships, you need to email your college, specifically the financial aid department. Here are some tips for making your request:
1. Don’t rush
While you might be tempted to message your request right away, wait until you have other financial aid offers in hand. Knowing how much other colleges are offering you can give you leverage to ask for more.
However, you should make the request before you accept the college’s offer and submit your deposit. You also don’t want to wait until just before May 1, College Decision Day. Getting an approval takes time, and delaying too long might mean all the extra funds are gone.
2. Have a number in mind
Don’t simply ask the college for “more money.” Asking for a specific amount – such as $10,000 or $3,000 – makes it more likely you’ll receive it and gives credence to your request.
You should also be realistic. Consider your college’s average aid packages, endowment, how much they offered, and the cost of attendance (COA). If your first-choice college has a $60,000 COA and offered you $20,000, it’s unlikely they’ll give you a full ride, even if another one of your schools is. However, $10,000 may be more realistic.
3. Justify your request
Be clear on why you need the extra money to attend. Here are three examples:
- Your financial situation has changed. The Free Application for Federal Student Aid (FAFSA) pulls from the previous year. If your financial situation has changed since that year or since you completed the FAFSA – due to loss of income, medical expenses, or something else – you might be eligible for a higher aid package.
- You qualify for a higher merit award. Has your GPA gone up since you applied? Or have you earned a higher ACT/SAT score? Some college merit awards take your grades and test scores into account and better results could put you at a higher scholarship tier.
- Another college offered you more or lower net price. If you really want to attend one school but another college’s offer makes more financial sense, you can explain the situation to your top-choice school. Highlight why you want to attend there and how a larger aid package would make it more realistic for you.
If you have documentation that supports your request, attach it to the email.
4. Be polite and concise
Take time to introduce yourself at the top of the message. Follow email etiquette, and keep your request clear and concise. You’re more likely to get the money if you’re polite and have good reason. If you receive any messages or calls back, reply in a timely manner.
5. Be prepared to hear “no”
While you can try to negotiate scholarships, colleges don’t always have the additional funds to offer more money, especially if other students are accepting the full packages. If the school returns with a “no,” thank them for their time. You don’t want to burn bridges in case you want to reapply in the future or if you decide to attend with the lower aid amount.
It doesn’t hurt to ask for more money from your college, especially if you need it to attend. Always be polite in your request, make it realistic, and start early to increase your chances of increasing your scholarships. If you have any other questions about your awards, make sure to reach out to your financial aid department before you make your college choice.
Need help seeing which college is giving you the best deal? Easily compare your offer letters side-by-side with our Financial Aid Offer Letter Comparison tool.
