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: Hello there, I'm here to learn more about school aid offers.

assistant: Have you applied to several schools then?

user: Yes, I have.

assistant: In that case be sure to compare aid offers to see which school will be the most affordable.

user: I'll do that, thank you. What if I received an aid offer from a school and it changed at a later point?

assistant: 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.

user: That doesn't apply to me. Are there any other reasons why this could happen?

assistant: Yes, it can also happen if you are selected for verification.

user: Ah, then it all makes sense. Say, what if I have any questions or don't understand what's in the aid offer?

assistant: Then you should contact the financial aid office at the school. They re there to help. It's important to understand what you're being offered e.g., which items in the offer are grants and which are loans.

user: What if the school simply doesn't list the cost of attendance on the aid offer?

assistant: In that case 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.