At first brush, you might be tempted to accept any financial aid package when it comes in the mail (especially if the envelope has your first choice school stamped on the envelope). My advice: be patient. You will be receiving numerous financial aid packages within a month of each other, provided that you applied to more than one school, and it is best to compare before you make a commitment. Find out which school provided the most bang for the buck: it may be that a number two school choice provides a significantly better financial aid package.
Now, I know the hard part may be choosing a second or third choice school, but another important point to consider is the potential additional stress that accompanies being responsible for a larger part of your tuition--this stress could impact your college experience. It may be that without the additional expense, your educational and social experiences are enriched.
If you still have your heart set on your first choice school, but are offered a better deal somewhere else, try to appeal your original financial aid package. Not sure how to do it? Stop back tomorrow--I will share negotiation strategies with you!
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