By now the decisions are in and the family has a short list, probably with one favorite and one that makes more financial sense. May 1 is the national reply date. Here’s how to spend the three weeks.
The spreadsheet
One row per college, five columns:
- Net cost, year one — cost of attendance minus grants and scholarships (see last month’s post).
- Four-year estimate — net cost × 4, plus a few percent a year for tuition growth, minus any aid that ends after freshman year.
- Borrowing needed — what the family would have to borrow to cover it. Be honest about this column.
- Program fit — can the student actually get into the major? Some colleges admit to the university but gate engineering, nursing, or business behind a second application.
- Graduation rate for students like yours — four-year rate, not six. It’s on each college’s website and on the federal College Scorecard. A school that graduates 55% in four years costs a fifth year for a lot of families.
When the sheet is filled in, the “favorite” is often still the right call. Sometimes it isn’t. Either way the family is choosing with its eyes open.
Asking for more
Colleges don’t “negotiate” the way a car dealer does, but many will reconsider. Two situations where it’s worth an email to the financial aid office:
- A comparable college offered meaningfully more. Attach the other offer. Be specific and courteous: “We’d love to enroll at X. College Y has offered $8,000 more per year in grant aid. Is there anything you can do?”
- Your circumstances changed. Job loss, medical costs, a parent’s retirement. This is an appeal, not a negotiation, and it’s handled through a form.
Don’t bluff, don’t make it a demand, and don’t have the student do it alone — this is a family conversation with the college.
The deposit
One deposit, at one school, by May 1. Double-depositing — paying two colleges to keep options open — violates the agreement your student signs and can cost both spots. If a waitlist comes through later, you forfeit the first deposit; that’s the price of the option.
Admitted students’ days
Go to one, with the student, if you can. Not for the tour — for the lunch. Sit with current students and ask what they’d change. The answer tells you more than the presentation does.
Three weeks, one spreadsheet, one deposit. It’s enough.
By Jeff Thompson, Phortex Campus · April 15, 2025 · ← All posts