Financial aid appeal letters are written to make a case for financial aid to colleges and universities, federal agencies such as the U.S. Department of Education (ED), state agencies, and individual organizations like private foundations or companies that provide educational funding. This letter is used for either loans or scholarships and can be sent in order to request more money than was originally offered. It can be written by students or parents. Financial aid officers review student financial records to determine how much funding a student requires. The ED has specific regulations as to what qualifies as a "need" and what does not. Financial need is based on the cost of education minus other resources such as grants, scholarships, federal work-study programs, loans from private lenders or the parents, and funds from the college or university. Financial aid officers also review family income and assets to determine how much of a student's needs can be met with other resources, primarily grants, and scholarships. Financial aid is not awarded automatically; students must make a case for their need by submitting an appeal letter along with financial records such as bank statements and tax returns. The financial aid appeal letter sample outlines reasons for asking for additional financial aid funds. Keep in mind that the Financial Aid Appeals Committee is primarily concerned with how much funding is needed, not why it is needed. The following are the reasons for appealing a student's financial aid offer: Regardless of why you are appealing your offer, it is best to keep your letter brief and to the point. Financial aid appeals are reviewed by committees with limited time availability so there is a chance that your letter could be overlooked if it is too long. Financial aid appeals typically include the following: Financial aid appeal letters should be polite and positive in tone. The appeals are often successful when students admit their mistakes or offer explanations that blame no one but themselves for the circumstances that led to the request for assistance. Financial aid appeal letters work best when they provide specific examples of what has changed and why. Administrators want to help students who have encountered unexpected problems, not those who did not anticipate the need for assistance. They also take into consideration whether students have used all their resources, including loans and grants, before asking them to take on further debt. It works best when they include as much evidence as possible that proves a student's claims. Financial aid administrators want to see that applicants are using all resources at their disposal before asking them for additional assistance. Financial appeals work best when they are specific and focus on the short-term rather than long-term problems. Financial aid appeals work best when they provide specific examples of what has changed and why. The letters should be polite and positive in tone, explaining the circumstances that led to the request for assistance or why a student has not used all his or her available resources. Financial aid administrators want to help students who have encountered unexpected problems, not those who did not anticipate the need for assistance. The administrators also take into consideration whether students have used all their resources, including loans and grants, before asking them to take on further debt. That said, if you are able to provide compelling evidence of special circumstances or unanticipated changes in financial status will increase the chances that your appeal will be successful. Financial appeals work best when they are specific and focus on the short-term rather than long-term problems. What Is a Good Reason for Asking for Financial Help?
What to Include in the Letter?
Financial aid appeals often relate to special circumstances such as a family emergency, significant change in income, medical bills, huge transportation expenses for out-of-town college visits, high cost of living in a certain area, or an unexpected change in financial status.
The appeals may also be submitted to explain why a student has not used all of his or her available resources.
Financial aid officers may ask family members to sign a Financial Aid Form, authorizing ED officials to scrutinize financial records from the last few years.
Financial aid is awarded based on immediate need, not anticipated future income.
Financial aid administrators want to see that students are using all their resources before asking them to take on more debt.
Financial aid appeals work best when they are specific and focus on the short-term, not long-term issues.
Financial Aid Appeal Letters may also include those that are from family members explaining why they are unable to help the student financially. For example, if a parent is unemployed or has lost his job due to downsizing.How To Write One
The Bottom Line
Financial Aid Appeal Letter FAQs
A Financial Aid Appeal Letter is a formal letter written by an individual to request for reconsideration of their eligibility for financial aid or scholarships. The letter should explain the circumstances that led to the need for additional funding and provide evidence to support the appeal.
Students who have been denied financial aid or scholarships due to unsatisfactory academic performance, low-income levels, or other extenuating circumstances should consider writing a Financial Aid Appeal Letter.
A Financial Aid Appeal Letter should include the student's name and contact information, the institution or organization to which the letter is being sent, an explanation of why financial aid or a scholarship is being requested, evidence to support the appeal (such as medical bills or proof of income), and a request for reconsideration.
When writing a Financial Aid Appeal Letter, it is important to remain professional and respectful. Make sure that the letter is well-written and free of errors. Additionally, include evidence to support your appeal in the form of documents or other proof.
The timeline for processing a Financial Aid Appeal Letter depends on the institution or organization to which it is being sent. Generally, appeals are evaluated within one to three weeks after submission. However, it can take longer due to processing delays.
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.
To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.
