What if it is not enough?

	Understanding Acceptance Letters
	Understanding Award Letters
	•	How to Read Award Letters
	•	How Awards are Determined
	•	Not Enough?
	Evaluating Award Letters Making the Final Decision
	Información en Español

Understanding Financial Aid Award Letters

What If the Award Is Not Enough?

You have reviewed the financial aid award letter and are concerned that your savings and grant package are not enough to cover your education expenses. There are options to get the funding you need so you can attend your top choice school.

Pursue scholarships. It may not be too late to apply—funds might still be available. Your chosen course of study could even have something to offer. Talk to your school's guidance counselor and take another look at online sources such as Sallie Mae's Free Scholarship Search.
Consider benefits from your parents' employers. Look beyond tuition and scholarships: There might be workplace programs to lower the cost of computers, insurance, or travel.
Investigate tuition payment plans. These plans could spread tuition expenses out over the year.
Verify that any special circumstances were considered. If you are unsure, talk to the school's FAO about your situation.
Last—but not least—conside other loan programs.

Need a Student Loan
There are loan options beyond those listed on the award letter:

Your parents may qualify to borrow up to the total cost of your education minus any aid received with the Federal Parent PLUS loan.
Private loan programs are also available. You could qualify for a Signature Student Loan.
And ask your financial aid office about school- and state-specific loan programs.

To explore these options further and see what programs you qualify for at your school, use our Online Award Analyzer.

Resources

Short on funds for college?
When grants, scholarships, and Stafford loans do not provided enough to cover the cost of your education, it's time to investigate other alternatives:

Signature Student Loan offers undergraduate and graduate students financing beyond what federal programs offer.

Parent PLUS is a low-interest, federally funded loan for credit-worthy parents of undergraduate, dependent students.

Tuition Answer Loan is an education loan that allows creditworthy parents and students with income to borrow and cover any education-related expense.

Tip

Choose loan amounts carefully. Borrow only what you absolutely need to cover the cost of your education.

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