Negotiating college tuition

ABC News' Rebecca Jarvis and Kelly Peeler of NextGenVest.com offer tips on negotiating college tuition on "Real Biz with Rebecca Jarvis."
4:26 | 03/23/17

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Transcript for Negotiating college tuition
Let's talk about negotiating answer yes but I like as a so we an action that's really can encourage all of our users to. Really first and foremost and the US. Going to college lately consumer. So just like eight you're buying a college education regular concern Robert Pallet education so what I mean that is. Just like you could buy a house. Or you know clothes or whatever might be. You should think about negotiating the price of whatever your buying right because going to college is pretty much like your first mortgage and it's. It's a 200 as dollar payment depending on the range of this we'll there and so. I mean should you should approach it like you worry consumer first second. A lot of 280 actually negotiate its of course and a guarantee but when you're getting this financial aid packages from different colleges in the mail. You can compare that and there is and you can go back to the university that's your top choice and mean we don't really recommends is cutting dean's assistants and I just go to your top choice. And be heading in triple a fat. And what you can do is you can send them an appeal letter. And that's like a one page letter me personally help students customize their letters I'm so that they know the actual ins and outs of doing that. Buy it he sent an appeal letter to your top toys you can get more additional Fedor financial aid from patent in this form of scholarships grants. Whatever might be more federal loans oppose having take out private lines I'm at different interest rates. And so we see it that happening and being successful for students. Really because of three different buckets of categories. I'm happy to go into so. First and you can write an appeal letter and say things like I'm my financial situation has changed from me so. My parent. Lost a job. I parent has huge medical bills. Over the course of the past year and that's relevant because if you sent your facet it's just a snapshot of your financial picture at that moment in time. A lot of things can happen from October Q now on her conduct at this times. And confident it opposition be kept up to the evening at our money at like kind of change in financial situation. Number two is you can get more money if you like they're kind of if that that the college frankly really wants you to come there so. If you are competing against different school. And you a lower tiers only give you a lot more aid to go there you can go to that your top tier school and say. I got this other offer I really love your school would you consider. You know giving them for more financial in and I would cons here's what I was able to. I'm sixty and that kind of like college ecology association working. I and and bucket number three is and is to really think about financial aid from a university is at a high. Rates so there's only so much amount of money that they have they give it out to their distance that they expect to enroll. And sometimes they miss calculate that so sometimes there's a little bit more of the pie it left over. Mitt you know it and ran April made you so it is always relevant just check in to say. Is their chance that I can appeal my financial aid package I'd love to come this school here is the reasons why. On ending and we can help students and customize matters that's something. So my family. We did appeal. Yet at the university and and we get hands and and the way I did it I had applied to a handful of school. And I brought the packages. That were I would get some the other school. And said you know University of Chicago is our top choice yeah. Hat but paying for it is a cult at. So can you help us the way that some of these other institutions are and they did it yeah. Yeah yeah I think the look by the way this is not about the University of Chicago but the UOC just launched a new program where if you are students. Or a son or daughter of need. Public school teacher in Chicago. They will pay. For you to attack yet and there are a lot of those programs and a number of schools now more and more apples arguing that. I mean just on that plane if you on the you have your if you have parents fatter and the military. Yeah I'm better in other sectors like teaching. Chances are when we're outside of what you just mentioned at universities which we recommend students Q and that's amazing I summit is by age at a doing that. Is you would also likely qualify for a lot of additional scholarships wouldn't so it it's really important if your student to be thinking out. It is it my dad's a firefighter that's actually that could be relevant to your particular at this election.

This transcript has been automatically generated and may not be 100% accurate.

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