Deciphering Your Financial Award Letter [INFOGRAPHIC]

The financial aid process can be overwhelming before starting your first year of college, especially if you aren’t aware of how it works. After filling out the FAFSA and being accepted into a school, you will be presented with an award letter from your chosen school(s) with details around the different types of federal, state, and university-specific aid you are awarded. It will also outline your contribution expectations and will help you learn whether you will need additional funding to attend that school. The infographic below, provided by Citizens Bank, breaks down how to read and interpret this award letter so you can make the most informed decision possible when selecting a college to attend.

 

Financial Aid Award Letter Sample

Consider private student loans from Citizens Bank

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5 Responses to Deciphering Your Financial Award Letter [INFOGRAPHIC]

  1. Tom 10/25/2014 at 6:54 pm #

    School costs are out of control … even relatively well off families are having to have their kids get crushing student loans that will kneecap financially for years on end … if they can even find a job into today’s increasingly automated society. It’s time to change the way we approach higher education IMO…

  2. Derek@LifeAndMyFinances 09/25/2014 at 8:37 am #

    That’s too bad that students still expect to get loans to cover more than 50% of the overall expenses. According to this infographic, apparently students aren’t expected to earn money while they are in school anymore? What happened to work ethic?

    • Paul 09/26/2014 at 7:50 pm #

      I put myself through college and had a part-time job all 4 years. It not only gave me some spending money it forced me to manage my time!

  3. Jayson @ Monster Piggy Bank 09/24/2014 at 3:56 am #

    Very interesting topic. This will help me with my school application. I am eyeing for UCLA, hoping to make it. Gotta save this infographic in my laptop. Thanks!

    • Paul 09/24/2014 at 6:08 am #

      Bruins huh? Best of luck with the application process Jayson!