Your financial aid letter: What to do if it isn't enough

You can get more money for college by keeping your information up-to-date and meeting with your financial aid officer to discuss options.

A college education is getting increasingly expensive, which is why financial aid is so important to many students. Unfortunately, some students and their families find that their initial offers for financial aid aren’t enough to cover their college costs. If you’ve opened your financial aid award letter and feel that it is still not enough to make tuition affordable, don’t give up. Instead, try these tips for getting more financial aid.

Keep your information up-to-date
If your financial circumstances have changed and you feel you can no longer contribute as much as much to your education costs, it is essential that you alert your school’s financial aid office as soon as possible. After all, your financial aid is based on your family’s income and assets, so you might be able to get more assistance if anything changes. Be prepared to provide some documentation. You should also plan to update your information for financial aid every semester so that you can make the most of the help that is offered to you.

Ask what you can do
Don’t be afraid to ask your school’s financial aid office for additional aid. Just keep several things in mind. First off, your initial financial aid package may have already exhausted your options for grants and scholarships, which don’t have to be repaid. So if you’re asking for more aid, be prepared for additional loans or a work-study program. Neither of these things are the end of the world, especially since repaying loans can boost your credit score if you do it right and work-study programs can help you gain valuable experience. Regardless of what your options are, make a point to be professional and courteous during your meeting with the financial aid office, and be prepared to discuss your academic successes, as well as the reasons you need more financial aid.

Don’t despair
If you aren’t able to get more financial aid, you will probably have to make some adjustments to your lifestyle. Look into jobs that allow you enough flexibility to maintain your studies and look for ways to save money on your living and recreation expenses. Also prepare to apply for scholarships and grants for the next semester so that you can get as much help as possible paying for your degree.