Financial aid letters are easy to compare badly because they mix free money, loans, and work. The only fair comparison is net price: the cost of attendance minus grants and scholarships you do not repay.
Step 1: Find the Cost of Attendance
Each school lists tuition, fees, housing, food, and other estimated costs. Make sure you compare like with like, including living costs, not just tuition.
Step 2: Separate Gift Aid From Loans
| Type | Counts As |
|---|---|
| Grants and scholarships | free money; reduces net price |
| Work-Study | money you must earn by working |
| Loans | must be repaid with interest; not free aid |
Step 3: Compute Net Price
Net price = total cost - grants and scholarships. A school with a higher sticker price but larger grants can be cheaper than a lower-sticker school with little aid.
Step 4: Project Four Years
Ask whether grants renew and whether tuition rises each year. A calculator helps: model totals in our College Tuition Cost Calculator. If offers look off, you can respectfully appeal with a competing award letter.