Depending on when your teen filed his or her college applications and FAFSA, college acceptance letters may start hitting your mailbox soon (if they haven’t already). And usually right along with those come the follow-up letters that will likely have the biggest impact on the ultimate college decision – the financial aid package. While you don’t want to base college choice entirely on which school is the most affordable, it is definitely a significant factor for families facing the prospect of student loan debt in just four years. If you’re lucky, your child will be in the fortunate position of having a few options to consider, and you made wise choices during the college selection process. But once you line up your financial aid award letters in front of you, that’s when the real decision-making work begins. For what you need to know about the financial aid package, read the full story on our sister site, Living on the Cheap.