Accepting an Offer Before Getting Financial Aid Award?

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aad
Posts: 76
Joined: Mon Nov 23, 2009 11:49 pm

Accepting an Offer Before Getting Financial Aid Award?

Postby aad » Tue Mar 09, 2010 10:36 pm

I've gotten into my dream school. I'm certain that I will attend beyond any reasonable doubt so I'm not sure that it is worth waiting around for other schools to reach a decision on me.

However, should I wait to get my financial aid award before officially accepting the offer?

Just as background, I don't expect to get any grants for need or merit. The only thing that I am hoping for is as much stafford loan funding as possible (especially the subsidized portion). How is the determination for one's allocation of stafford loans made?

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Dostoevsky
Posts: 54
Joined: Sun Feb 21, 2010 10:03 pm

Re: Accepting an Offer Before Getting Financial Aid Award?

Postby Dostoevsky » Tue Mar 09, 2010 10:44 pm

I got into USC last week and was way more excited about it than I thought I'd be. I paid the full seat deposit a few days ago, without a final financial aid package.
Realizing that I have more leverage in negotiating scholarship amounts without commitment, I still felt like I was ready to commit.
I am hoping that my decisiveness translates into a fair award package. I'm pretty happy though.

viking138
Posts: 223
Joined: Thu Jan 22, 2009 7:55 pm

Re: Accepting an Offer Before Getting Financial Aid Award?

Postby viking138 » Tue Mar 09, 2010 10:50 pm

aad wrote:I've gotten into my dream school. I'm certain that I will attend beyond any reasonable doubt so I'm not sure that it is worth waiting around for other schools to reach a decision on me.

However, should I wait to get my financial aid award before officially accepting the offer?

Just as background, I don't expect to get any grants for need or merit. The only thing that I am hoping for is as much stafford loan funding as possible (especially the subsidized portion). How is the determination for one's allocation of stafford loans made?


There's no incentive for you to accept before receiving your financial aid package. Even if you get a little money or even nothing at all, your expected value is higher if you wait to accept than if you commit now. Don't accept just because you're "excited". Giving away any negotiating power you have for such a reason is not a good idea.

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weee
Posts: 384
Joined: Wed Jul 09, 2008 8:34 pm

Re: Accepting an Offer Before Getting Financial Aid Award?

Postby weee » Tue Mar 09, 2010 11:48 pm

Don't commit and also don't withdraw from any schools that might give you potential leverage in negotiating scholarship either. You don't have to commit until the date they state, set the deposit aside in the bank and earn 1 month of interest on it ;)

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JollyGreenGiant
Posts: 995
Joined: Tue Apr 17, 2007 9:12 pm

Re: Accepting an Offer Before Getting Financial Aid Award?

Postby JollyGreenGiant » Tue Mar 09, 2010 11:59 pm

I can't see one good explanation as to why you would need to do this.




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