The new Award Letter Comparison tool from Discover will help families compare financial aid packages side by side. The free interactive tool will provide personalized results so users can easily understand total cost of attendance, which schools are offering the most financial aid and the costs a family will be expected to cover.
In three easy steps, families can compare financial aid packages from up to five schools using key information from each school’s award letter. The tool provides a detailed breakdown of the amount a family would need to pay for each school after factoring in grants, scholarships, work-study and federal student loans. The results are displayed in easy-to-read graphs to standardize award letters in different formats and make comparison easier. The tool is mobile friendly and results can be saved or printed for future reference.
The comparison tool adds to a number of existing tools and resources from Discover Student Loans that can help parents and students manage costs associated with college and answer key questions as families navigate the planning and paying for college.
Discover Student Loans says it is committed to helping families navigate the college financing process, and our Award Letter Comparison tool simplifies a crucial step toward making a final college choice. Award letters differ from school to school and don’t always follow the same template. Discover is helping families easily compare award letters so they can make informed decisions and determine what works best to meet their education financing needs.