Sort every line by what it requires
Aid categories should not be added together as though they are equally spendable.
- Grants and scholarshipsUsually do not require repayment, but confirm renewal, enrollment, GPA, program and residency conditions.
- Federal student loansMust be repaid; record the borrower, subsidized status, annual amount and total borrowing path.
- Parent or private loansTreat as optional financing, not a discount, and compare borrower protections and repayment terms separately.
- Federal Work-StudyRepresents potential wages after obtaining and working a job, not money automatically credited to the bill.
- Other resourcesCheck whether savings plans, outside awards or benefits are already counted elsewhere.
- Outside scholarshipsConfirm when the award will arrive and whether it changes another part of the aid offer.
Ask what changes after year one
An affordable first year is not enough if the offer changes predictably.
- What renews automatically?Identify forms, credit load, academic progress and deadlines for every award.
- What is first-year only?Look for grants, housing discounts or orientation awards that disappear.
- How does housing affect aid?Ask how on-campus, off-campus and commuter budgets change the cost of attendance.
- What if circumstances changed?Ask about special-circumstance review when the FAFSA no longer reflects current finances.
- What is still estimated?Clarify pending verification, state aid, outside scholarships and enrollment assumptions.
Calculate the actual gap
Use the same categories for every school.
- Direct chargesAdd tuition, required fees, housing, meals and school-billed insurance.
- Gift aidSubtract confirmed grants and scholarships that apply to the same period.
- Unbilled essentialsAdd realistic books, transport, supplies and personal costs.
- Financing decisionShow loans and work earnings below the gap instead of using them to hide it.
Keep the estimate and offer separate
The FAFSA Submission Summary contains federal eligibility estimates and the Student Aid Index; the school makes the final aid offer. Save both documents, but resolve discrepancies with the school’s financial aid office.
End with three numbers: cash needed before the term, expected student borrowing for year one and a realistic multi-year range. If a line is unclear, do not assume the most favorable interpretation.
