Thursday, March 17, 2011

Appeal A Financial Aid Decision

Receiving an official notification that your financial aid award has been reduced or denied can be shocking. Since completion of your academic goals may hinge on the amount of financial aid you receive, it is important to take these notices seriously. Whether the decision was made due to academic troubles, filing inaccuracies or residency issues, it is important to respond with and appeal to the decision in a calculated, efficient manner for the best chance at a decision reversal.


Instructions


1. Read over your institution's established appeals process to determine your best course of action. Act well before applicable deadlines to avoid automatic denials. Some institutions have strict policies on contact methods and filing procedures. Waiting until the last-minute could cost you the amount of financial aid necessary for you to remain enrolled in upcoming semesters.


2. Determine the reason for your financial aid appeal. Simply "needing more money" won't be deemed a worthy argument by the financial aid advisory board. Most institutions view "extenuating circumstances" as worthy appeals, and are willing to reverse unfavorable decisions due to these matters. Issues such as job loss, medical bills, and other emergency situations are often cited as viable appeals arguments.








3. Gather supporting documentation for your appeal. Although any reason can be listed as the primary reason for your appeal, the advisory board may request to view official personal or financial documentation. For example, if your financial aid appeal is based on a recent job loss, applicable bank statements and pay stubs. Adding applicable documentation helps lend credibility to your argument and shows that you are organized.


4. Make initial contact with the financial advisory board. The usual requested methods are by letter or by official appeals form. If writing a letter, ensure that it is formatted properly and addressed to the appropriate department. Include the specific amount of financial aid you were awarded as well as the specific amount you require to continue your education. If submitting an appeals form, ensure that applicable sections are completed as indicated by the form instructions. Include applicable financial or personal documentation with any form of initial correspondence.








5. Follow up with the appropriate department. While some institutions make final decisions based on initial appeals applications, others require that additional steps be completed in order for the appeal to be processed. Check your mail for correspondence from the financial advisory board to stay aware of any mandatory meetings or other process deadlines. Keep all copies of all correspondence with the financial aid department to document your efforts.

Tags: advisory board, amount financial, financial advisory, financial advisory board, your financial, appeals form