Try some of these tips from Patrick O’Connor, independent college counselor and former president of the National Association for College Admissions Counseling, shared via a newsletter from CollegeisYours.com.

Read the letter many times, over many days. “Your heart is racing because your child has been admitted to their dream school, so you skim the award letter twice, and you think you can afford to pay what you believe the letter says,” O’Connor warns. “Put the letter down and celebrate the good news, then pick up the letter that night, and read it again — then again the next morning, and again over the weekend. If the letter is unclear to you, write down your questions.”

Use the tools. Colleges often send along worksheets on how to read the letter; some have more information on the web, and others simply say “Call us.”  “This is no time to not ask for directions” says O’Connor. “Use these financial accessories to learn where you are, and what you're committing to."

Call anyway. Even if you’re sure you understand what the letter says, use the expertise of the financial aid office to double check what you think you know.  If you’re not sure what to say, O’Connor suggests this: “We received my daughter’s acceptance letter, and we’re so thrilled about her getting in, I’m not sure I completely understand her award letter. As I read it, she’ll receive $5,000 in grants we don’t have to pay back, she’ll work 8 hours a week at an on-campus job, she needs to get $500 in a student loan, and we have to take out $700 in a parent’s loan.  Is that right?”

Listen, and let them work for you. Once you tell the financial aid office what you see, give them time to pull up your child’s file and double check it.  “It’s not uncommon for aid officers to bring up a file and find a different way to package your aid, or new money that’s just become available” says O’Connor.  “Financial aid officers are good at their job, and they want to help you — be patient, listen and let them help you.”

Update them. Your financial picture may have changed dramatically since you filled out the financial aid application — things like that happen in these times. Be sure the college knows how things have changed, and be ready to send documentation to support your claims.  “Your financial aid package may increase, or it may stay the same,” says O’Connor, “but the only way something good might happen is if you tell them about your situation.”

Compare and consider. Once you understand the financial aid offers from all of the colleges, have an honest conversation with your child about their college goals and interests.  “It may seem hard to compare the value of a college education against your budget,” says O’Connor”, “but in many ways, it’s like buying a house. If you balance the qualities you’re looking for in a home with what you can afford, you find a way to make a good decision.  After all, that’s what college really is — your child’s next home.”

(photo: Larry C. Price/Baltimore Sun)