Yes, College Financial Aid and Scholarship Packages Are Negotiable
April 1, 2023 | By Daniel Strom
Financial aid offers aren’t always set in stone. If you approach it the right way, you might be able to secure more funding and make college more affordable. Here is how to give yourself the best shot:
Do Your Research: Before diving into negotiations, research the financial aid policies of the colleges you're considering. Some schools are more generous with need-based aid, while others prioritize merit scholarships. A quick look at their website (or even student forums) can tell you what’s possible.
Leverage Other Offers: Colleges don’t like to admit it, but they care a lot about their yield rate (how many admitted students actually enroll). If you have a better financial aid offer from another school, you can share this information when appealing your financial aid package with the university. This is a common practice, so do not feel icky about it!
Describe Special Circumstances (if applicable): If your family’s financial situation has changed—job loss, medical bills, unexpected expenses—let them know. Colleges understand that FAFSA data doesn’t always reflect real-life situations.
Schedule a Conversation: Emails are great, but if possible, schedule a call or an in-person meeting with the financial aid office. A personal conversation makes your case more compelling and shows you’re serious. When you talk to them:
Be polite and explain your situation clearly.
Ask about other aid options, like work-study or departmental scholarships.
Write them a thank you email after speaking with them (Seriously, it will be greatly appreciated.)
If all fails with the financial aid office, reach out to the admissions officer who is assigned to your region. This person likely advocated for your acceptance and may have some pull with the financial aid office!
Explore Alternative Aid Sources: If negotiations don't yield the desired results, don't lose hope. There are other avenues to explore. Research external scholarships, grants, and work-study opportunities. Look into local community organizations, foundations, and employers that offer educational assistance. Broadening your search can provide additional financial support and ease the burden of college expenses.
Bottom Line: Just Ask!
Most students never even try to negotiate their financial aid—but the ones who do often get more money. Worst case? They say no. Best case? You get thousands of extra dollars.
It’s always worth a shot.
About Daniel Strom
Daniel Strom co-founded Elite Scholar Advising, which provides tailored advice to college applicants worldwide. He is a proud graduate of Northwestern University and the Kellogg School of Management, where he also developed admissions experience through his role as an admissions representative. In addition, he also served on the Northwestern Alumni Admissions Interviewing Council. Daniel has helped hundreds of college applicants across the world realize their full potential by gaining admission to their dream schools.