Educate yourself when seeking college financial aid

IWASHINGTON — n contrast to the reports that super-wealthy parents have paid six-figure bribes to get their children into the best universities, many families struggle to find the cash to pay for the education of their children.

In just a few weeks, families across the country will find out how much their children will receive in financial aid from the colleges where they were legitimately accepted. Immediately after these letters arrive, there will be shock and dismay, because, for many, it won’t be enough. This will send students and their parents into a frenzy over how to persuade the colleges to give them more assistance.

Negotiating for additional financial aid isn’t easy. Colleges are besieged with requests from financially strapped families with equally qualified students.

But if you want to plead your case for more money, there is a way to strengthen your argument, said Mark Kantrowitz, a leading expert on the college-finance process and publisher and vice president for Savingforcollege.com, which provides information about 529 plans.

You can get Kantrowitz’s detailed advice in his new book, “How to Appeal for More College Financial Aid,” this month’s Color of Money Book Club pick.

Yes, of course, your child is brilliant, played basketball and ranked high in his or her class — or has other similarly impressive items on his or her resume. However, reiterating such accomplishments isn’t likely to make your case for more money. The appeals process is much more formulaic, Kantrowitz says.

“College financial aid is not like negotiating with a car dealership, where bluff and bluster will get you a bigger, better deal,” Kantrowitz writes. “Negotiation for more financial aid depends on presenting a college financial aid office with documentation of special circumstances that affect the family’s ability to pay.”

Here is the reality: Most demands for more money fail. Although appeals are seldom successful, you have a slightly better chance at private, nonprofit schools and high-cost colleges, which often have a policy of providing more aid to needy students.

If, however, your financial circumstances have changed, it is worthwhile to submit an appeal. There are a number of special circumstances that can affect a family’s ability to pay, such as recent job loss or medical costs not covered by health insurance.

One thing families can do to make sure they get the most aid the first time around is to fill out the Free Application for Federal Student Aid correctly. Kantrowitz’s book covers a lot of the common errors made on the FAFSA.

What I found especially helpful in this book were Kantrowitz’s meticulous explanations of why families might not get an adjustment to a financial-aid offer. What many families see as unfair might not, in fact, be unjust.

College can be frighteningly expensive. So it pays to learn all you can about the financial-aid process.