A Short Message From Pearl re: When to Appeal Your Award, Merit Aid vs Financial Aid Offers, More
It's come to my attention there's a lot of confusion around admissions letters that contain merit awards in them and financial aid award letters. Let me clarify.
MERIT AWARDS are typically indicated in your admissions letter. Not all schools offer merit aid. Merit awards are often provided for all 4 years, provided the student maintains a certain GPA and meets other requirements.
FINANCIAL AID AWARD LETTERS are different. After a student files financial aid forms and is admitted, the school issues a financial aid award letter weeks to months later. Every school to which a student submits financial aid forms and is admitted will send one. In most cases, you'll find it in the financial aid tab of the student's portal. Some may be available now - please check the portals and send us any award letters you find.
The financial aid award letter is an itemized list showing the Cost of Attendance (tuition, room, board, fees, transportation) for the 2026-27 school year. It will also show the merit award along with any need-based discounts, loans offered, and your out-of-pocket costs at that school. Financial aid is applied for and awarded annually.
They are distinct: merit award = typically 4 years, announced with admission. Financial aid award letter = annual, comes later, shows the full picture.
It is our recommendation to wait until all financial aid award letters are back from all schools the student is admitted to before appealing the financial aid package of the school the student wishes to attend.
Please forward all financial aid award letters received from every school to which you have been admitted.
I hope this helps! Please let me know if you have any questions.
Sincerely,
Pearl
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