Actual Case: Financial Aid Appeal Boosts Award from $12K to $64K!
We’d like to share a recent success story that demonstrates how Palma Financial Services works with our clients. One family applied for financial aid so their daughter could go to her dream school, Duke. The school’s original award offer was $12,625. One of our experts intervened on her behalf, and Duke revised their financial aid award offer to $64,600! A successful negotiation netted this family an extra $51,975 of free financial assistance for their daughter’s first year of college! Multiply that by four- years of college and our appeal yielded more than $200,000 of additional financial aid for this family – on top of the original award offer!
Building a case for increased award:
Palma Financial Appeal Experts intervened on behalf of this family and made a logical business case explaining why this young woman should attend Duke. The family and their daughter had done everything right; the daughter was a brilliant student and citizen, active and involved in her community, recipient of the Outstanding Scholar Award in her school district of 63,000 students. She was the founder and president of Health Organization Students of America, coordinated an organ registry drive at her school and the author of an international nutrition manuscript under peer review. The bottom line: This was exactly the kind of student that Duke needed to continue their reputation for academic excellence.
But not everything goes as planned:
The active, vibrant father contracted a rare disease, spent time in the ICU and ultimately had a heart transplant that severely compromised his long-term health, longevity and earning power. The cost of dealing with this health care crisis–the ongoing expense of anti-rejection drugs and associated medical issues–began to make their daughter’s dream of attending Duke just that–a dream.
Don’t be afraid to ask for more money:
This case study demonstrates how we help our clients increase their aid packages, and it also shows that you have the power to negotiate with the colleges and universities to which your children are applying. It is important to keep this in mind: Enrollments are significantly down—an estimated 500,000 fewer entrants. Don’t be afraid to ask for more aid. According to the Princeton Review, 30-50% of the families who ask for more money get it. It is up to you to roll up your sleeves and go back to the bargaining table—to secure more financial support for your child’s education.
College aid officers are going to offer the smallest financial aid package possible to get your child to attend their schools. The next time you book a flight or see a commercial on TV for an airline, know that every passenger paid a different price for their seat. Some paid more; some paid less. College is no different. In both cases, whether you are buying a plane ticket or paying for college, there are ways to reduce your tuition costs. We are here to give you that expert advice.