Lending Appeals (2024)

FAQs

What are good reasons for a financial aid appeal? ›

After the Financial Aid Appeal

For students that are denied their appeal, there is little else they can do to work directly with the school. Instead, they may need to look to outside resources in order to make college more affordable. This may include student loans, a part-time job, or outside scholarships.

The sooner you appeal for more financial aid, the most likely you are to get a favorable result. Note that an appeal lasts for only one year. If the special circ*mstances still apply, you must appeal again in subsequent years.

If you meet the conditions of your appeal, then your appeal approval will be extended to the next term within the same academic year. Appeals are only reviewed for one academic year at a time unless otherwise noted. Do SAP appeals usually get approved? Appeals are only accepted once, at the end of spring semester.

Maybe your family's finances have changed, or maybe you have a better offer from another school you can use to negotiate. In such situations, you can submit an appeal letter requesting additional financial aid. Often, you will need to include documentation of your special circ*mstances and why you need more funds.

Most schools won't consider changing your financial aid appeal unless you have proof to support your request. This can include pay stubs, copies of medical bills, or a copy of your federal tax return. Once you have the necessary documentation, you can begin crafting your appeal letter.

The appeal may be denied if you cannot show that the lower court made a legal mistake. Some of these mistakes include a violation of your rights, a biased trial judge or denial of counsel.

What happens when your financial aid appeal is approved? ›

Once the appeal is approved, the financial aid awards will be revised accordingly to the approval. The approval of an appeal does not guarantee financial aid eligibility (including eligibility for loans).

What is the maximum timeframe? The federal government defines the maximum timeframe as 150% of your program's published length, as measured in credit hours. For example, a typical degree requires 63 credits which would result in a maximum timeframe of 94.5 credit hours (63 x 150%).

Students whose financial circ*mstances worsened should consider filing an appeal. An appeal can be filed for both need-based and merit-based aid. Some colleges may try to match aid packages offered by other schools.

The appeal process varies from school to school but, generally, all schools will require that you appeal in writing, either by traditional mail (aka “snail mail”) or email. Appeals may not be done by phone. You should never appeal your financial aid award just to seek more money.

Luckily, financial aid can help you cover some (or all) of the costs. And, if you negotiate your package with your school, you might qualify for even more financial aid. Negotiating financial aid packages is a common practice. It can put you in a strong position to pay for your education.

Examples of good reasons to write a letter of appeal:

Personal or family struggle/tragedy (and how you have responded to said struggle) New caretaking responsibilities. A skill or commitment that you omitted from your original application (example: experience with coding, or coaching youth athletics, etc.)

A letter of extenuating circ*mstances is your place to explain why you're asking for help. Detail what's happened with your parent's career, describe ongoing medical conditions, or discuss any other specific reason you're finding it hard to pay for college.