Ask For More Money If Your Financial Aid Package Isn't Enough
It's great to get financial aid to complete your education, but sometimes you may need more money because the awarded amount is not enough to sustain you through the semester. What do you do when you need more money to complete your education? Well, you can take out a personal loan for the difference, you can apply for an emergency cash loan to get you through the semester, apply for a payday loan, a no cosigner student loan, work extra hours to make up the difference or you can try to write a letter of appeals to the financial aid office to request an increase in the awarded amount.
If you choose to write a letter of appeal to get your awarded money amount increased, be careful not to make it sound like a letter of appeal because of suspension. This is an entirely different matter altogether and should be handled different. Here are some things to remember when trying to get more money from financial aid to complete your education without having to take out a no cosigner student loan.
Always be grateful for the money they did give you. Never sound as if you are entitle to more and they short changed you, it will only get you denied quickly. As for how much money you need to make ends meet for the semester. Make sure they know that you are dedicated to paying back the money you borrow to finish you education. If all fails after this, then a no cosigner student loan may be your best option.
Here Is A Sample Letter of Financial Aid Appeal To Get More Money
Name and Social Security #
Dear Financial Aid Committee:
My name is ___________________________ and I am will be attending ______________ School of ______________in the Spring/Fall of 2012. I am in receipt of my financial aid package and I am thoroughly thankful for all the awards including loans, grants and work study program that you have awarded me for this coming semester. Although I am so very grateful for this package, I'm afraid there is still a very large hole that needs to be filled financially before my attending classes can be possible.
Here is where you explain your extenuating financial problems that proves mathematically that you need more money
I hope my explanation of my extenuating circumstances is thorough enough for you to see why I need more money in order to make my educational dreams a reality. If I may respectfully suggest: by my calculation, an extra $6, 000 in financial aid should be able to easy my financial burden enough so I can complete my courses without unjust pressure or excessive worry. I hope that you will consider my request because I love this school. From my first visit to the campus, I've been dreaming of coming here and not being able to attended because of my financial status, would be heartbreaking.
I thank you so much for reviewing my letter of request to increase my financial aid for the semester term Fall to Spring of 2012. I look forward to hearing from you soon.
There is no guarantee that you will get more money, but it is worth a try. Make sure you tell your story, the more complete, the better so they can see exactly why you need the extra money to complete school. Now is not the time to be bashful. If you don't get the extra money you need, you may have to look into private sources for emergency cash loans to pay for that particular semester. A no-cosigner student loan, a bad credit student loan, a no credit student loan or personal loan from a private lender may be your best option if your appeals letter fails.