Review early aid estimates

Overview

Some schools release preliminary financial aid estimates for admitted students in February. These are not final offers but give you early insight into affordability.

When Estimates Arrive

• Schools with rolling admissions or ED II: January-March
• Some large public universities: Mid-February onward
• Financial aid offices send preliminary packages 2-4 weeks after admission

What Preliminary Packages Include

• Estimated Cost of Attendance (COA)
• Federal aid estimate (Pell, loans)
• Institutional aid estimate (grants, scholarships)
• Net Price estimate

What They Don't Include Yet

• Final financial aid office review
• Verification adjustments
• Updated tax information
• Full merit scholarship consideration

How to Use Preliminary Estimates

• Compare across admitted schools
• Calculate real out-of-pocket cost (COA - Grants - Scholarships)
• Understand loan vs. grant vs. work-study ratios
• Plan for potential appeals

Signs an Estimate Is Good

• Significant institutional grant aid (not just loans)
• Federal aid listed separately and accurately
• Net Price aligns with Net Price Calculator result
• No major discrepancies with FAFSA data

Signs an Estimate Needs Follow-Up

• Much higher than Net Price Calculator estimate
• Heavy loan allocation (>$8K/year)
• Missing institutional grant aid
• Discrepancies with what financial aid office discussed

Comparison Framework

Build a spreadsheet: | School | COA | Grants | Scholarships | Work-Study | Loans | Net Cost (out of pocket) |

Out of Pocket = COA - Grants - Scholarships - Work-Study Subtracted (since it's earned)

Loans are separately borrowed money, not a discount.

Wait Before Comparing Seriously

• Preliminary packages can change
• Final packages arrive after all decisions (March-April)
• Don't make commitments based on preliminary numbers

Red Flags

• School offers admission but no aid package
• Aid package dramatically lower than NPC estimate
• Major components missing (Federal loans not listed)

Initial Response

• Email financial aid office to confirm receipt of all aid forms
• Ask about timeline for final package
• Inquire about appeal process if needed
• Do NOT accept or decline yet

Merit Scholarships

Preliminary merit scholarships:

• Sometimes come in separate letters
• Can be additional to financial aid package
• Confirm these are additive, not replacing aid

Don't Commit Early

Even if an early package looks great, wait until you have all packages (typically April 1-15) before making decisions. You have until May 1.