Well done! If you have received several acceptance letters, now is the time to make some critical decisions about your future academic journey.
First, I recommend thoroughly reviewing all letters, including any letters for direct-admit programs like engineering, aviation, pre-professional (nursing, medical, law, etc) and making some notes. Your notes should not only be the "highlight reel" of what you like, but also the financial details and things you may not be so fond of, like freshman class requirements.
I highly encourage creating a separate spreadsheet for each school focused on the financial offers. Be sure to include institutional aid, anticipated federal aid (may not come until March/April due to FAFSA analysis) and external scholarships or offers. If you work for an employer who provides book stipends or other funding, be sure to note the qualifications in your spreadsheet. Maintaining a 20-hour work week while pursuing 14-16 credit hours may be challenging.
After you have the financial spreadsheet and the highlight reel, consider the negatives. Will the school be more than three hours from home? Will you be an out-to-state student requiring a car? Many of these may have been considered during the application stage, however, they come into focus once acceptance and aid offers come into the picture. It is not uncommon for schools to prohibit freshman from having a car their first year and also requiring first year students to live on campus. In 2024, housing was an issue at top schools so much so they partnered with off-campus complexes and private maintenance companies to increase accommodations. Purdue University (Lafayette), University of Michigan (Ann Arbor) and University of Tennessee (Knoxville) saw housing applications increase anywhere from 18 to 24% for academic year 2024-2025.
Can you negotiate financial aid offers? Maybe. For example, if you have an offer for $10,000 to attend a private, liberal arts school for a graphic arts program and you have a $5,000 merit-only offer to attend a large, public, state-school, it would not be appropriate to ask the latter school to increase their aid offer based on the program. However, it may be beneficial to compare merit offers from in-state and out-of-state schools and reference the difference in price based on residency. Perhaps the school will offer in-state residency for students who live in the residence hall AND if so, would the school be willing to match the merit aid offer? Referencing the academic program as well as the cost of attendance in making a decision is acceptable.
Jeff Selingo is well-regarded for answering the "Who Gets In" question. I refer clients to his work on the "buyer" and "seller" lists. There are colleges that "buy" students - in short, they offer aid based on a wide variety of reasons. In contrast, there are "sellers". Seller schools do not need to "buy" students as they receive an over-abundance of applicants and can sift through to accept only the top-tier. Think of the Harvard, Notre Dame, Penn and MIT, Ivy-league schools with a pedigree. If you are interested in learning more, I recommend reviewing the recent "buyer and seller" list here. This will help you evaluate your aid offers as well!
Finally, respond to all acceptance letters, especially those you are declining. The next four months are going to be exceptionally busy for admission and financial aid offices. By taking the time to respond with a professional email or return letter (depends on school), you are allowing these folks to make offers to students on waiting lists or fee up money for other students who are on the fence. Additionally, once you have accepted, make the deposit for your campus housing. In some cases, you may consider making the non-refundable deposit of $75 or $100 before you know...just because housing can be a huge issue if not reserved early.
Congratulations on getting accepted! Remember: professionalism and courtesy will take you far at your future alma mater! Have questions about program or school acceptances? Happy to connect - just reach out here.
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