Description: What is that college really offering you for financial aid? Use our Offer Letter Decoder to better understand confusing financial aid offers.
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Congratulations! You've been selected to receive financial aid to help cover the costs of college. But what exactly is an 'FSEOG' or 'Unsubsidized Stafford,' and how much of the money you've been promised is actually just a loan? If you find yourself confused by your offer letter , you're not the only one.
Some colleges and universities are moving towards using a standardized letter called the Shopping Sheet that breaks financial aid packages down into grants, loans and work-study allowances. But many schools still follow their own formats, producing letters that use mysterious abbreviations and jumble the different types of aid together .