The days are getting longer, Punxsutawney Phil did not see his shadow, and spring will be here before you know it, which means it’s the time of year when parents of high school seniors are asking us: “Can I go back and ask the college for more scholarship money?” The answer is a resounding yes. If your student has received college acceptances and offers of merit scholarship money, now is a good time to compare those awards and craft a plan to go back and ask their top choice(s) for additional funding.
Most of us wouldn’t even consider buying a car or a house without negotiating the price, but when it comes to making another major purchase—namely, a college education—negotiation tends not to cross our minds. You may be surprised to learn, however, that many colleges—whether they advertise their flexibility or not—are open to negotiating their price by increasing the scholarship discount they offer. As a College Coach finance educator, I recommend most of the families I work with at least try to negotiate for additional scholarship funding. Not every negotiation attempt will be successful, but here are some tips to maximize your chances of increasing that scholarship offer: