The Appeal Process
The appeal process is highly misunderstood, largely because so many College Funding "experts" misrepresent the process. Often at a Financial Aid Night the speaker will lead the audience to believe that "negotiating" for more money is just part of the normal Financial Aid process. If the college doesn't give you "enough", just ask for more. Put on your "Art of Negotiating" hat and go for it! This representation is entirely misguided!
You Don't Negotiate - You Appeal
There are indeed circumstances whereby it is entirely appropriate AND advisable to appeal a Financial Aid Award. But NOT for the simple reason - honest as it may be - that we just need more money for college because we haven't saved enough or we're opposed to incurring any debt for college! In fact, the term often used by colleges when an appeal IS warranted is Special Circumstances.
So What Are "Special Circumstances"?
There are a number of situations that legitimately qualify as Special Circumstances. These would include (but are not limited to):
- Loss of a job or reduction in earnings (of a parent)
- Diminished value of assets
- Excessive medical expenses
- Care for elderly parents (Grandma/Grandpa)
You see, there's no place on the FAFSA form to "tell your story". (There's a very limited space on the CSS PROFILE for comments.) Remember that your student's need-based financial aid eligibility is determined largely by the parents' income and assets as declared on the FAFSA form, which uses:
- PREVIOUS year's earnings
- Assets as of the time of filing
In this upside-down economy there continues to be horrific losses of income and assets that are NOT reflected on the FAFSA or the CSS PROFILE. If this applies to your family or if there are any other extenuating financial circumstances, then an appeal may be in order.
One of Our Many Specialties
Don't hesitate to call upon us for guidance in the Appeals Process or just to get our opinion on the nature of a potential appeal that you're considering. This is included in your Forms Processing Service with GetCollegeFunding.
And while there's never a guarantee as to the outcome of an appeal, we have a lot of experience in this area and have guided many families through a successfull appeal.