Navigating Financial Aid Letters: Making Sense of College Offers

This week we welcome Regional Director of Admission for the Mid-Atlantic, Kathleen Voss, to the blog. Welcome, Kathleen!

When I started out in college admission, my director at the time encouraged me to learn as much as I could about financial aid. I worked for a small school, and we had to wear a lot of hats. Oftentimes, and especially during financial aid packaging season, I would switch gears and move down to the financial aid office to help them in meeting and speaking with students and families regarding their financial aid questions.  

Flash forward a few years to my own daughter applying to college, and we were the ones completing financial aid forms and receiving notices. Even with my experience in the field, I needed a refresher!

I remember one of the most common questions I received early in my career was “how do I read and interpret my financial aid letter?” To someone not familiar with financial aid, that question might sound funny. But in truth, reading a financial aid letter is not as easy as it sounds. Colleges work very hard to make the letters clear, but there can still be confusion. Let’s break it down! 

When will I receive my financial aid letter?  

If you have applied to colleges for the fall of 2025 and have completed the Free Application for Federal Student Aid (FAFSA) along with any other required financial aid forms, you may have letters in your student portals right now (or will soon!). If you have been neglecting your emails, I recommend you look asap! Most colleges release financial aid letters between mid-February and mid-April. Others might package students immediately after they are admitted.  

What information will be provided in my financial aid letter?  

Financial aid letters may look different from college to college, but most will include the following information. 

  • Student Aid Index (SAI), formally called the Estimated Family Contribution (EFC): This number is calculated using the information that you provided in the FAFSA and other financial aid forms that were required by the school. This formula determines how much a family should be able to contribute to a student’s education. 
  • Cost of Attendance: This includes ALL THE THINGS that will become the total cost for one year of college. Tuition, fees, housing allowance, food service plan, estimated transportation costs, books, supplies, and estimated personal costs. 
  • Federal Student Loans: Georgia Tech and most colleges in the United States participate in the Direct Loan Program. This allows students to borrow money from the Federal Government at a lower interest rate compared to other loans. Remember, loans are money that you will need to pay back! 
  • Federal Work Study Program: Students demonstrating financial need might qualify for Federal Work Study.  These part time jobs allow students to earn money to help pay for educational expenses. If you qualify for work study, the amount will appear on your letter. 
  • Gift Aid: This is financial aid that does not need to be paid back. It includes grants and scholarships. This type of aid and the criteria used will vary from school.  

In addition to the information provided above, some colleges will also provide students with a direct or “net” cost amount. This is the cost of attendance after financial aid has been applied. Other colleges might provide information about alternative or Parent PLUS loans. Before moving in this direction, it is important to reach out to the college you hope to attend for guidance about these loans.  

My letters are in. What are my next steps? 

Once you receive ALL your financial aid letters, it is important to sit down with your family and have an honest and open conversation. These conversations can be difficult, especially if your family does not openly discuss financial matters, but it is critical for all parties to agree and be comfortable with the decision. The letter will also include information on how to accept or decline your financial aid offer.  

  • Continue to look for and apply for outside scholarships. Check with organizations in your community, churches, and local nonprofits. Many scholarships have deadlines in the spring, so there is still time to get that scholarship application in!
  • If your situation has changed significantly since completing the FAFSA, for example a divorce, death of a parent/guardian, loss of employment, illness, etc., reach out to your college financial aid office. They may have an appeal process for your situation. 

For a deeper dive into what is included in a financial aid letter, what it means, and how to accept or decline aid, check out this recent interview with Georgia Tech’s Executive Director of Financial Aid, Katie Conrad. 

Making the Choice 

When my daughter was making her final decision, it came down to three colleges. One was our state flagship school, the other two were out of state public universities. One of the out of state universities offered her an excellent merit scholarship, while the other two did not.

Even with my proficiency in both college admission and financial aid, the experience was emotional and stressful.  Because of this, we reached out to a trusted friend who worked as a financial advisor to walk my daughter through the financial pros and cons of each. This person was NOT emotionally connected to the decision and was able to offer sound advice.   

At the end of the day, even with the merit scholarship, she decided to attend our in-state university. While cost of attendance was a huge part of our decision, FIT, major choice, study abroad opportunities, and distance from home ALL played a part in the final choice.  

Not everyone has a friend in the finance business to help guide these decisions. There is FREE help! These resources can help you make the best decision for you and for your family. 

  • Many state higher education agencies offer free resources and counseling to students about financial aid and financial aid notices.  
  • The FAFSA offers online tools to help compare loan and cost options. 
  • The College Board offers BigFuture, a platform with tools to compare costs and provide scholarship information.  
  • Finally, you can reach out to the financial aid office at the colleges you have been admitted to OR to your high school counselor for additional help and information. 

Looking Back 

My daughter will be a senior in college in just a few weeks. We were reflecting on her college search and ALL the intensity and drama that sometimes came with it.  I asked her if she had any regrets about her choice. “Every once in a while, I think about what would have happened if I had ended up somewhere else. But then I wouldn’t have met my roommates or my sorority sisters. And my professors really took the time to get to know me and I have grown so much academically. I don’t know if it was a perfect choice, but I think it was the best choice.”   

Additional Resources about Financial Aid

Kathleen Voss has worked in college admission for over 25 years. She joined the Georgia Tech Office of Undergraduate Admission in 2013 as the Institute’s first Regional Director of Admission. Prior to Tech, Kathleen worked regionally for Manhattan College and as the Associate Director of Admission for Regis College in Massachusetts. She is a member of PCACAC and serves on the Admission Practices Committee. She enjoys spending time with her husband and two daughters and volunteering in her community.