So you want to improve your college’s financial aid package? Fine. Just don’t have your mom call the college to do the negotiating. For most high school seniors, “decision day” is May 1, the deadline for students to alert a college or university that they are accepting an offer of admission. For many, if not most, students and their families, finances play a role in that decision.
Events such as job loss, divorce, sudden death of family members, high unreimbursed medical expenses and more can change the equation. “If there has been a significant reduction in income compared to your application, inform the school’s financial aid office; in some cases, financial aid can increase,” said Phil Asbury, Director of Financial Aid of Northwestern University in Illinois.
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