All About Financial Aid Appeals

As schools wrap-up their spring semesters and students turn their sights to the fall, it’s become apparent that the financial implications of Coronavirus are going to hit hard. Students who have never qualified for financial aid may now qualify for thousands, and students who were barely making tuition payments with their current aid status may now need to consider alternative financing or suspending their enrollment. That said, there is one option that shouldn’t be overlooked as a method to increase your aid and potentially save yourself a few thousand dollars on your tuition bill this year.

What is a Financial Aid Appeal?

The Financial Aid Appeal process exists to help students make their case as to why they deserve more financial aid. If you get a financial aid award that’s less than you hoped — or if your financial circumstances have changed since you completed the FAFSA, which in this time period...pretty much applies to everyone — AND you need less than $7,500, your first action should be to appeal your financial aid.

The Appeal itself is an explanation, usually written to the financial aid office, as to why you will need more financial support to attend a semester/year of school. Your financial aid office will likely have its own process, so you’ll need to call them to find out more about what the steps are.

What Could Constitute an Appeal?

At this point, your best bet is to appeal for as many of the following situations as are applicable:

  • Job loss or decrease in income 

  • Divorce or separation of a dependent student’s parents

  • Death of a dependent student’s parent

  • Special needs or disabled children

  • Unreimbursed medical and dental expenses

  • Catastrophic loss, such as damage or loss from a natural disaster

  • Textbook costs beyond the standard allowance in the cost of attendance

  • Change in the student’s marital status

  • Dependency override

  • End of child support, Social Security benefits for a child or alimony payments

  • Pretty much anything related to the Coronavirus

Common appeals at this point will likely center around students or family members losing their job and thus having less money to contribute towards school.

When Should I Appeal?

IMMEDIATELY! Call your Financial Aid office to learn more about the process.

What Does the Appeal Process Look Like?

Below is a brief overview of what the process is going to look like for most students:

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Templates

Looking for some examples of what you can use when writing up your aid letter? Look no further! Check the below templates and use what works for you:


I Have More Questions

We’ll be reviewing the entire Appeals Process and providing tips and tricks on Friday, May 22 at 12pm CT and we’d love to see you there! For more information and to register, please check out the link below:

Additionally, you can contact us at anytime by reaching out to Mike Jank at mike@a-m.money


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