What to look for in a college award letter

Kelly Peeler, founder and CEO of NextGenVest.com, explains what to look for in a college award letter on "Real Biz with Rebecca Jarvis."
2:00 | 03/23/17

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Transcript for What to look for in a college award letter
If you did get into the school of your dreams congratulations. You're gonna get these two notes now to getting the acceptance letter. And then you're getting the outline of what Russell at the bell well. What should even be looking for an. Yes so he is I'm financial aid award letters so mind you just because they're called award letters doesn't mean everything in the latter is free money. And so what you should be looking at art things like. For help comparing them so every different college has their own format. And way is about getting loans and grants and things like that so. It's really important actually like laid them all out in front of you and compare them in the same categories. I think it be ties. This is actually really confusing process and making people feel more comfortable that they don't need a Ph.D. actually read these things. I'm so leisure looking at art things like the breakdown of scholarships. Grants which are free money and I say for scholarships you really know what are the terms of those scholarships so. Gotta maintain a certain GP at my communiques or you might have to be and a certain fellows program if you change and injures that I anymore so it's really important to read the fine print so that you understand okay if this isn't yet again. Then at risk it's not free money for all four years on. Then you can kind of go down a little bit and see things like loans so this is where we see it tons of alleys instance getting confused and they will. And Steve federal loans in aid but yet. On their lender and I'll think it second that is a it. It even though it says the word Luntz. Basically there's a lot of confusion around understanding and you do have to pay you absence of these things back at alone is is that they have to pay it back plus interest. So even if it's bucket and eyes I'm so sometimes a lot of letters have. Lungs subtracted. From the total cost. So you're the total that they at least for you actually that out of pocket costs and that difference is something that you really have to understand. Four.

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