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Financial aid offer season is here! Students nationwide will discover that financial aid can significantly lower the cost of college. However, one major challenge remains: interpreting each college's costs and understanding the available financial options.

Multiple studies have revealed that how colleges communicate about financial aid is often confusing and inconsistent. Like any major purchase, understanding your total cost is key to making informed decisions. A recent brief completed by uAspire, Caution: Prices May Vary, showed that, across more than 200 aid offers, there were 11 different ways to calculate the remaining cost after financial aid was applied. This brief shows that financial aid offer communications still have room for improvement and adds to the results from a previous study, uAspire conducted with New America, Decoding the Cost of College. Two findings stood out from this study: one-third of the offers lacked cost information, and there were 23 different methods for calculating remaining costs. These discrepancies highlight that comparing financial aid offers is far from straightforward. Ultimately, students must do their own math to thoroughly understand their financial options when choosing a college.

One of the toughest parts of financial aid offer reviews is simply convincing students to review them. Here are some successful strategies we have used while advising or have seen partners use over the years:

• Introduce early: Integrate financial aid offer reviews into your college application timeline. By making it an early, expected step, you help students see it as a normal part of choosing a college.
• Set an Expectation: When schools require families to review their offers—whether through counselor-led sessions or as a graduation requirement—it creates a consistent standard for the entire class, not just those with cost concerns.
• Incentivize the Process: Offering rewards like a pizza party, a prom ticket raffle, or college gear can spark interest and encourage participation.
• Leverage Classroom Time: Incorporate the review into a financial literacy or math class. Structured lessons on college costs can help students understand the details and importance of comparing their financial aid options. 

Successfully implementing a financial aid offer review is challenging, but it's a crucial part of the financial aid process that empowers students and families to fully understand their options. A Lumina Foundation-Gallup poll found that 87% of students who drop out cite cost as a major factor. By encouraging your students to review their financial aid offers and engaging in meaningful conversations about college costs, you can help set them up for success.