A school aid offer (sometimes called an award letter) tells you what financial aid you can receive at a particular college or career school. 
If you ve applied to several schools , be sure to compare aid offers to see which school will be the most affordable. If you listed a school on your Free Application for Federal Student Aid FAFSA You might get a tentative aid offer from a school and then find that it changes later. This could happen for a variety of reasons, such as if you indicated that you plan to live on campus when you submitted your FAFSA form but then later decided to live off campus or if you are selected for verification. Because your financial aid package is created for you and is based on the cost of attending a particular school , your aid amounts will vary from school to school. 

Figuring Out Net Price 
Follow these easy steps to figure out your net price, or net cost, for each school, and find out which school will be most affordable for you. First , find the cost of attendance for your program on the aid offer. If the school doesn t list the cost of attendance on the aid offer , ask the financial aid office for this figure. Make sure it includes amounts you will pay to the school directly such as tuition and fees as well as other costs such as living expenses, books and supplies, and transportation. Next , subtract the grant and scholarship amounts on your aid offer from the cost of attendance amount. Also subtract any savings you have available to put toward your school costs for the school year. The remaining amount is your net or out - of - pocket cost. Compare the net costs for the schools you are considering. The net cost is the amount you will have to pay out of your pocket, using earnings from work or loan funds that you borrow. If you have any questions or don t understand what s in your aid offer , contact the financial aid office at the school. They re there to help! For instance , it s important to understand what you re being offer

user: Hi, could you please explain what an award letter is?

assistant: An award letter tells you what financial aid  you can receive at a particular college or career school. Have you applied for aid at a college?

user: Yes I have applied to several career schools.

user: I have an aid offer but am having difficulty figuring out the net price for the school where can I get  help?

assistant: You can get help with this by contacting the financial aid office at the school. Remember it is important to understand what is being offered. For example is it a loan or is it a grant.

user: What if the aid is not sufficient and I have to take out a loan to pay for schooling?

assistant: If you have to take out a loan you should pay special attention to the terms and conditions of private loans so that you understand what your obligations would be. You should read up about federal versus private loans.

user: What is meant by net costs for schooling?

assistant: The net cost is the amount you will have to pay out of your pocket by way of loans or using your earnings from work.

user: What should I do if the college does not list the cost of attendance on the aid offer?

assistant: If your award letter does not mention the cost of attendance you should ask the financial aid office for this figure. You should make sure it includes amounts you will pay to the school directly such as tuition fees as well as other costs such as living expenses, books, supplies, etc.