At McKenzie ASPIRE we are held our 8th Workshop: College Financial Aid Award Letters last April. I have attached my handout for the workshop so that you can see the informative information we covered.
I am very interested in whether you can follow the logic through the handout. It is important for families to clearly understand the basic concepts of: COA, EFC, financial need, gapping, gift aid, work-study, parent loans, student loans (subsidized and unsubsidized). Once they understand the net price and net cost and choose the college the student will attend they also need to know the other external sources for funding a college education such as tax credits, summer work, 529 college savings plans, etc.
I would really like feedback from you before I do the workshop again next year. I suspect we are all dealing with assisting students and families as they try to make sense out of the college award letters.
George A. Letchworth, Ph.D.