An aid offer can display a large total while requiring substantial borrowing. The useful comparison starts with the school's full cost and separates money that does not need repayment.
Calculate net price first
Subtract grants and scholarships from tuition, fees, housing, food, books, transportation, and personal costs.
Label every loan
Federal, parent, private, subsidized, and unsubsidized loans have different borrowers and terms.
Check renewal conditions
A first-year scholarship may require grades, enrollment status, or a new application to continue.
Sources
- Federal Student Aid, How to Evaluate Your Aid Offers.