(5) Compare Award Letters
There are many factors to consider when choosing a college or university to attend. One of these is financial. You must determine whether you can afford to attend not only one year, but the following years needed to complete your degree. The University of Louisville and our office strive to meet the financial needs of our students. We award students based on their financial need and academic standing. Some sources of aid have limited funding.
If after receiving your award letter you have questions about additional financial options, please contact us.
To best compare your U of L award letter with award letters from other schools, you must consider several factors.
- How does your gift aid (i.e. grants, scholarships) compare to offered loans (i.e. Stafford, Parent PLUS)?
- What is the difference between the actual cost of attending (tuition, fees, housing) and the awarded financial aid?
- Are the awarded scholarships renewable? If so are they adjusted for increases in tuition?
- What scholarships opportunities are available for the following years?
- How much has tuition increased over the last several years at that institution?
- How much debt will I have to incur to complete my degree and how does that compare to my likely career earnings?