My son was accepted into his top choice and then a few of his lesser choices. The only problem is that school 1 presented us with a financial aid package that is about 1/3 less than what some of the other schools offered. Is there anything that we can do? Do schools ever reconsider their financial aid packages?
Philip, the answer is YES they certainly do reconsider. Some amount of aid is kept in reserve to enhance offers for kids schools really want. Write a letter and follow up with a call to the financial aid office indicating that the school is your child's preferred choice but that other schools offered better packages. Provide specifics of the aid packages to the extent possible. Do this as soon as possible, before the reserve funds are exhausted. Good luck!
Philip, I agree with Donald. There is room to negotiate with the Financial Aid Officer at School 1. As noted by Donald, be prepared to discuss the other aid packages. While the school obviously can decline to adjust its standing package, asking the school to do better can and does work.
Absolutely! You have the right to appeal and discuss the findings with the financial aid officer. Your case may be strengthened by mitigating circumstances in your income or asset situation (change in job status since the base year income used for calculating your Expected Family Contribution, for example). Also, consider gaining leverage with the financial aid officer by leveraging off of any aid packages offered by a competing institution where you applied.