SOURCES: The colleges.
How to read a financial aid award letter
Acceptance letters are rolling in and thousands of families are wrestling with the decision of where they can afford to send their kids. But comparing the cost of one college to another can be difficult. There is a lot of variation in the financial aid award letters schools use to inform students of the grants, scholarships and loans available to them. We got ahold of a few letters and highlighted key terms that can help families understand exactly how much money they have to pay. Nearly half of colleges, including Towson University, use the Department of Education’s Financial Aid Shopping Sheet to help students and parents plan ahead.
By Danielle Douglas-Gabriel and Darla Cameron Published: April 1, 2015