If you didn’t receive as much financial aid as you expected or need to pay for your education costs, do not panic. Contrary to popular opinion, your financial aid package is not set in stone. You can send a financial aid appeal letter to your institution and have your financial aid package reconsidered.
Getting approved for a new financial aid package depends on your specific set of circumstances. Writing a financial aid appeal letter is the first step you need to take.
We’ll show you how.
Should You Appeal Your Financial Aid Package?
First and foremost, let’s cover the basis of this process: Is it reasonable for you to appeal your financial aid package?
Examine your financial aid application and consider whether or not the financial aid package that you have received reflects your financial circumstances. Ask yourself the following questions:
- Has you or your family’s finances changed since you submitted your Free Application for Federal Student Aid (FAFSA) due to unexpected or special circumstances? This might include new financial burdens like medical expenses, unexpected expenses, or other additional expenses.
- Did you make an error on your FAFSA that you think could have affected your financial aid package?
- Did you receive a better financial aid package from another competitive school and want the school to match the price?
If any of these circumstances are applicable to you, then yes, you should appeal your financial aid package.
If your appeal is reasonable, there is no harm in asking for a larger financial aid package. It can significantly improve your financial situation and reduce the burden of educational expenses.
Be sure to check your financial aid award letter to see if the school has highlighted any steps you should take for the appeals process. Some schools may provide a specific financial aid appeal form.
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What to Say in a Financial Aid Appeal Letter
When you’re writing your letter of appeal, keep in mind that financial aid offices are busy throughout the year, and even more so during pre-admissions and post-admissions seasons.
You’ll want to be direct and straight to the point, but also respectful and considerate of their time.
Here are some important things to consider when writing your financial aid letter of appeal.
#1: Address the director of the financial aid office by name.
While beginning a letter with “To the Financial Aid Office at x School ” or “To the Financial Aid Director” is adequate, addressing the director by name is a great way to stand out and be more polite. It doesn’t take much time to do a quick search and find out who the Director of Financial Aid is at your institution, but it shows interest and effort!
#2: Be polite!
Introduce yourself! Say thank you more than once in the email, and acknowledge the effort the financial aid office is making. You’ll want to set a tone that is courteous throughout the email. After all, the financial aid office ultimately determines whether or not your request is approved.
#3: Get straight to the point. What do you need? A larger financial aid package. Why? X, y, and z.
You don’t want to write a long, extensive paragraph about your situation. While details are great, being thorough and concise is the best strategy when writing a financial aid appeal letter. Include information that is only necessary, nothing more.
#4: Provide appropriate documentation.
Every school will ask you to provide documentation if you are submitting a financial aid appeal. It is best to submit everything that is needed when you are submitting the appeal letter. Doing so will make the process easier for yourself and the office. Check your school’s website to see their requirements. For example, if your dad lost his job, you’ll want to send proof of his unemployment. If your grandmother is in the hospital, send the office an itemized hospital bill. If you received a competitive financial aid offer from another school, provide the financial aid package that you received.
#5: Be specific about how much you are asking for.
The FAFSA agency has their own tools for calculating how much aid is awarded to each student. Nonetheless, you should provide a rough estimate of how much financial aid you need.
>> MORE: How to fill out the FAFSA as an independent student
Let’s say your school’s tuition is $80,000 and you received $70,000 in aid. Your parents can only pay $5,000 out of pocket, so you should ask for an additional $5,000 in aid. If you’ve received a competitive offer from another university, include the numbers. Then, you should ask the university to match the price or provide a better offer.
#6: Ask what the next steps are in the appeals process.
You’ll want to know what to do after you send your financial aid appeal letter. Be sure to ask what steps to take next so that there isn’t any miscommunication, confusion, or staggered response times.
#7: Add your school-specific reference number.
Most schools will assign a unique reference number to your financial aid application. Provide this number in your email/letter so the school can easily find your application.
#8: Proofread, proofread, proofread.
You do not want to send an appeal letter that is full of grammatical and spelling errors. It demonstrates carelessness and haste. Accordingly, this is not the impression that you want to make when you are the inquirer in the situation
Financial Aid Letter of Appeal Templates
Here are some of Sparrow’s financial aid appeal letter samples that can help guide you when writing your letter.
Sample #1: Asking the School to Reconsider Changes in Income
To Mr. Kevin Jensen, Executive Director of Financial Aid,
My name is Henry Baker, and I am a senior at Academy High School who was recently admitted to Cornell University. First and foremost, I would like to say that I am incredibly honored to have been admitted to this distinguished institution.
Cornell Engineering is my top choice program and while I would love to attend, I am having financial difficulty that is preventing me from accepting this once-in-a-lifetime offer. I am writing to you to respectfully appeal my financial aid award.
My father is the breadwinner for my family of four. Unfortunately, he was recently laid off from his job at Delta Airlines in March due to downsizing in the company. Luckily, he was able to find a new job at Tessan. Nonetheless, he is making substantially less than stated on my FAFSA. I’ve attached his last pay stub at Delta and his most recent pay stub at Tessan to this email.
My father makes an average monthly income of $5,000. Athough, household expenses like car payments, rent, electricity bills, groceries, and gas bills add up to $1,205 per month. While we were previously able to afford our expenses comfortably with his previous job, we are currently living on a tight budget.
I was hoping that the financial aid office could take this new information into consideration and readjust my financial aid award. It would be an honor to be a part of Cornell Class of 2027 to learn about mechanical engineering. Therefore, I hope that the financial situation can be appropriately addressed.
I appreciate your time in reading this email and reconsidering my financial aid award. Please let me know the next steps to proceed from here. Thank you very much.
Sincerely,
Henry Baker
Senior at Academy High School
San Francisco, California
Cornell Reference Number: 123456
Sample #2: Asking the School to Reconsider Merit
To Mr. Brian Hill, the Director of Student Financial Services at Carnegie Mellon,
My name is Virginia Valli, and I was recently accepted to the Mellon College of Science. I am extremely thrilled and honored to have been given an opportunity to attend Carnegie Mellon and want to thank you for all of the hard work you do for your recent admits!
I am reaching out with the hope that my financial aid award could be reconsidered. Specifically, I would love to attend Carnegie Mellon but would be unable to do so with the financial aid package that I received. I am trying my best to make the cost of tuition affordable for my parents and I and would hate to lose this opportunity.
I’d like to share new updates and additional details to my application that demonstrate my worthiness as a student.
- In January, I started the Youth Democrat Leaders Club at my high school in order to promote civic engagement and youth voter participation in Atlanta, Georgia. We are working to institutionalize youth voter registration through the public education system and just hosted our 7th youth mobilization drive at a local high school.
- Since the approval of the Covid-19 vaccinations, I have been volunteering with the Atlanta Community Center to help Spanish-speaking elders register online to receive their vaccinations. I am currently translating important documents, managing appointments, and interacting with elders over the phone.
- I was nominated by my biology teacher for Freeside High School’s prestigious ‘Scientist Award’ that is only awarded to select seniors in the entire graduating class. Selected students are usually individuals in the top of the class who have demonstrated knowledge, excellence, and passion for science. Currently, I am in the process of interviewing for the award and will let the office know if I do receive the award.
I hope these new updates demonstrate my strength as not only a student, but a community activist and scientist. At Carnegie Mellon, I plan to study Biology and minor in Political Science and hope I will be afforded the opportunity to do so.
Finally, I’ve attached a substantial merit award that I received from Washington University in St. Louis that I hope the financial aid office at Carnegie Mellon could match. Carnegie Mellon is my first choice university and I will absolutely attend if I am able to afford the tuition more comfortably.
Thank you so much for your time, and please let me know if you need any additional documents.
Sincerely,
Virginia Valli
Freeside High School
Atlanta, Georgia
Carnegie Mellon Reference Number: 67890
Sample #3: From the Parent/Guardian
To Mr. Phil Asbury, University Director of Financial Aid at Northwestern University,
My name is Michael Sterner. My son, Joey Sterner, is a sophomore at Northwestern University and recently received his financial aid package. I am writing to you because I noticed that the office was using the same tax year (2019) that was used in Joey’s freshman year to calculate his financial aid award.
Specifically, I wanted to inform the office that around seven months ago, the company that I work for had a budget deficit and my income has significantly decreased. I will be making an estimate of $6,000 less this year than the previous. I would like to request a reexamination of Joey’s financial aid award due to this.
I’ve attached a pay stub from this January and August to demonstrate this change in circumstance. I hope this is taken into consideration when reexamining Joey’s financial aid award.
Thank you very much.
With regard,
Michael Sterner
How Long Does it Take to Hear Back For a Financial Aid Appeal?
There is no exact answer, as the time period to hear back for a financial aid appeal differs from school to school based on their aid appeal process, staff numbers, and the point in time you sent the appeal. Some schools might respond in a few days, and others might respond in a few weeks.
You can speed up the aid award appeals process by attaching any necessary documentation to the email/letter you submit to the school to make the process easier.
What Happens if Your Financial Aid is Denied?
Approval for students depends on the school and your unique circumstance. If your financial aid appeal is denied, this unfortunately means that the school will not be issuing any more financial aid to you. There are a couple of things you can do:
Look for Grants, Scholarships, and Loans
Grants and scholarships are a great way to earn free money to pay for your academic expenses. Both are a form of gift aid, so they do not need to be paid back or accumulate any interest.
>> MORE: What are 4 types of financial aid for college?
You can apply for grants and scholarships given by your state, private organizations, or federal student aid.
If you are looking for options besides scholarships and grants, consider applying for federal student loans or private student loans.
Loans need to be paid back and will accumulate interest, so you’ll want to find the best option available for you. Submit a free form with Sparrow to see what rates you get with 17+ lenders, so you can find the best student loan option for you.
Consider Another School
Consider your other options. If you received a more competitive financial aid offer from other schools, accepting their offer might be the smarter choice if financial aid is a large consideration.
Student loan rates from our partners
Ascent
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 11/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 11/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
LendKey
1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
Earnest
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
College Ave
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Closing Thoughts From the Nest
Whether your financial circumstances have changed significantly or you’ve received a higher financial aid package from a different school, appealing your financial aid package is definitely an option you should consider to better afford the cost of attendance.
Use Sparrow’s aid appeal letter templates as a starting point. Remember to be polite and direct in your letter and include all the necessary financial documents to expedite the financial aid appeal process.