College financial aid award letters: How to understand and compare student loan offers
College-bound students and their families are receiving financial aid award letters from the colleges where they have been accepted. The letters offer families a combination of free money and other financing for the coming academic year. Sallie Mae recommends that students and their families take the time to understand and compare financial aid offers before making their college decision.
Some of the more common financial resources found in award packages include:
Sallie Mae’s CollegeAnswer.com, the planning-for-college website, offers an Online Award Analyzer to help families evaluate award packages, as well as other resources, including a free scholarship search and estimation of monthly student loan payment after graduation.
Sallie Mae's How to Pay for College devotes a chapter to choosing the best financial aid award package, including insight from financial aid officers on how they package financial aid, sample award letters, and comparison worksheets.
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To schedule an interview with a college-financing expert, contact Erica Eriksdotter at (703) 984-5628. Media inquiries only please.
Related topics
Applying for financial aid
Maximizing education tax benefits
Visiting college campuses
Last-minute financing
Managing student loans