Congratulations! You have been accepted to several schools and are receiving financial aid award letters from them. Now you must decide which school to attend. Finances will probably be one of many factors that you take into consideration as you make this important decision.

Comparing financial aid award offers from various schools can be difficult. It is easy to focus only on the total amount of aid awarded, but sometimes that figure can be misleading. The college that offers you the most aid may not necessarily have the lowest out-of-pocket costs. Your financial aid award total at one school may be larger than that of another school because the associated costs may be higher or because the package is mostly loan-based.

It is important to review all your award offers thoroughly and carefully. You can use our award comparison worksheet to get a true picture of each school’s financial aid package and learn how they compare.

It’s also important to consider your educational needs, and that the college that offers you the best financial aid package may not be the best match for you. Your overall goal is to be challenged and happy, and to thrive in a learning environment and campus community that best fits your interests, passions and desires. Therefore, while it is important to keep cost in mind when choosing a college, your decision should heavily consider your future educational and personal goals.

How to Compare Financial Aid Award Packages

• Determine each school’s cost. Review each award letter and locate the Cost of Attendance or COA (if it's not provided, contact the financial aid office and ask for a breakdown). Usually the COA is the amount of tuition, fees, room, board, and other indirect costs (e.g., transportation, books, and personal expenses).
  
• Review the awards offered. The types of aid most offered include gift aid (scholarships/grants), and what is referred to as “self-help” aid, federal work-study (FWS) and loans.
  
• Determine how much money you were given in gift aid (scholarships/grants).
  
• Determine the total amount of self-help aid you elect to accept.
  
• Add the gift aid and loans that you will accept and subtract the total from the COA. The remaining amount is what you will need to pay to attend each particular school.
  

When evaluating gift aid and loan options, remember to find out if the gift aid awards are renewable, as well as the terms of any loan being offered, the interest rate, and when it needs to be repaid. Trinity’s academic year expenses for a full-time undergraduate living in the residence halls are as follows:

2008-2009 TRINITY UNIVERSITY COSTS

Tuition	$26,664.00
On-campus Housing (double occupancy)	$5,600.00
Light Meal Plan (includes sales tax)	$3,222.00
Fees	$1,036.00
TOTAL DIRECT COSTS	$36,522.00

Books & Supplies	$950.00
Personal Expenses	$1,050.00
TOTAL INDIRECT COSTS	$2,000.00

TOTAL COST of ATTENDANCE

$38,522.00

*In the last five years, Trinity's comprehensive costs have increased at an average annual rate of 6.2%.