How should I compare financial aid offers from Georgetown and Fordham?

Compare the offers by building a four-year, out-of-pocket cost estimate, not by comparing the headline award totals. Grants and scholarships reduce what your family must pay; loans must be repaid, and work-study is money the student may earn only by finding and working an eligible job. Georgetown’s package may be primarily need-based, while Fordham awards can include need-based aid and, for some students, renewable merit scholarships, so the labels and renewal terms matter as much as the dollar amounts.

Start with each school’s full cost of attendance: tuition, mandatory fees, housing, food, books, travel, health insurance if applicable, and personal expenses. Subtract only grants and scholarships first. That result is the family’s net price before loans and work-study.

Then list loans separately by type and annual amount. Federal Direct Subsidized Loans have more favorable terms than unsubsidized federal loans, while parent or private loans should be treated as a real additional family cost, not as aid. Do not subtract work-study from the bill unless you realistically expect to work enough hours to earn it; it is typically paid as wages over the year and may be needed for books, transportation, or personal expenses.

Also compare housing expectations: an affordable first-year estimate can change if later-year living arrangements differ.

Put each school into the same columns: annual net price after gift aid, expected student loan, parent/private loan needed, work-study, and estimated four-year total. Ask each financial-aid office to clarify any ambiguous item and whether the grant or scholarship is expected to renew. If Georgetown’s remaining cost is meaningfully higher, an appeal is most persuasive when based on changed income, unusual medical costs, a job loss, or another documented change in family circumstances, rather than simply the existence of Fordham’s offer.