Top Colleges in Connecticut Don’t Tell Parents the Complete Story About Financial Aid Award Letters

This is an exciting time of year for many Connecticut parents of college bound students because families are receiving and reviewing college awards letters. The college awards letters let the families know the amount and type of financial aid that is offered to the student to attend that particular college.

One of the biggest secrets in the college education business is that parents do not have to accept the financial aid awards letter just because the college sends you an award letter. Throughout the entire process it is important to remember that you may accept, deny or appeal any part of the awards letter. You cannot let a college pressure you into accepting an award letter before you have time to compare all aid award letters.

The colleges do not want you to know that you can appeal any and every part of your financial aid awards letter because then they have to make up the difference from their highly coveted endowment account, which is nothing more than money sitting in a bank account earning interest for the college. When you are contemplating appealing your awards letter the first and best thing to do is try to get an extension of time to accept the award letter. The extension of time allows you more time to compare and put together a compelling and convincing appeal to the award letters.

Most colleges usually allow the student until May 1st to respond to the award letter. Keep in mind that should a particular Connecticut college refuse to grant you an extension of time, the student can accept the award letter to lock in the award. The student’s acceptance of the award letter does not commit the student to attend that college. However, acceptance of the award letter will probably reduce the chances of successfully appealing the award letter.