After filling out the FAFSA and applying for enrollment, the financial aid award letter is one of the most important parts of the college application process, as it will give you (or your student) an idea of how much to expect to pay out-of-pocket for college expenses. You’ll find information from your federal government, state and even the individual institution regarding what to expect for grants, scholarships, and work study options. After reviewing, you may also decide that private student loans may be an additional option for supplementing educational costs.
Analyze your award letter carefully, and use this infographic below from Citizens Bank to break down definitions and specific sections of your letter as you continue through the process.“
Consider private student loans from Citizens Bank