If you've applied for financial aid at the schools where you've been accepted, you and your family will soon find out how much financial support in terms of grants and subsidized loans the school is offering via an award letter.

The type of financial aid you receive can range from scholarships and grants to work-study and student loans.

These topics will help you understand financial aid award letters:

• How to read award letters.
• How awards are determined.
• Analyzing your award letters.
• What if the funding offered isn't enough?