1. PREPARE TO APPEAL YOUR FINANCIAL AID PACKAGE TO NEGOTIATE COLLEGE TUITION
Before marching down to the financial aid office and busting down the door, it helps to gather certain documents, letters, and other backup materials to help your case.
2. START DISCUSSIONS WITH THE PROPER FINANCIAL AID OFFICER
Begin by asking them how they reached the financial aid package. Try to understand where they are coming from, as this will give you more room to negotiate. Say to them, “Can you please walk me through your calculations? I’d like to discuss why I do not believe these are feasible but want to understand where you are coming from first.”
3. UNDERSTAND YOUR OPTIONS WITH COLLEGE TUITION AND YOUR FINANCIAL AID PACKAGE
While some institutions may offer their best option right away, many will hedge their offers, just like a typical negotiation. Typically, discounts come through need-based or merit-based aid.
4. USE YOUR AMMO AS NECESSARY
The next set of “ammo” to negotiate college tuition includes any other offers your child has received. Come with research in hand on the total cost of attendance for all the schools your child has been admitted to.
5. MAKE THE FINAL DECISION
If you and your child go in with the mindset that price is the #1 factor, you will naturally negotiate better as they won’t be able to get you to concede by building hype for that institution.
(...And Avoid Student Loan Debt)