How to Compare Two Financial Aid Packages Side by Side

Financial Aid Letters Are Designed to Confuse You

Every school presents financial aid differently. Some include loans as "aid." Some bury fees. Some quote per-semester costs while others quote per-year. This guide creates an apples-to-apples comparison.

Step 1: Build Your Comparison Table

Create a spreadsheet with these rows for each school:

• Total Cost of Attendance (COA): Tuition + fees + room + board + books + transportation + personal expenses. If the school doesn't list all of these, call and ask.
• Grants & Scholarships: Free money you don't repay. This is the only "real" aid.
• Net Price: COA minus grants/scholarships. This is what you actually pay.
• Loans Offered: Write these down but don't subtract them from cost — they're debt, not aid.
• Work-Study: A job, not a discount. Note it but don't count it as aid.

Step 2: Calculate 4-Year Total Cost

Multiply your annual net price by 4. But ask each school: "Will my grants/scholarships renew at the same level for all 4 years?" Some schools front-load aid freshman year and reduce it later. Get the 4-year projection in writing.

Step 3: Add Loan Interest

If you'll borrow, add estimated interest over a 10-year repayment. At 6.5% interest, $27,000 in federal loans becomes ~$37,000 over 10 years. This is your "true total cost."

Step 4: Compare Against Expected Earnings

Look up the median salary for your intended major at each school. A school that costs $20,000 more but leads to $15,000/year higher salary might actually be the better deal long-term. Use Ask Kinsley's Value Score to run this comparison automatically.

Step 5: Appeal the Weaker Offer

If School A gave you significantly more aid than School B, call School B and ask for a review. Provide School A's offer as evidence. Many schools will match or improve — but only if you ask.