FAFSA

[Lighthouse84]

I am returning to school in January and have completed my FAFSA. I am waiting on the financial aid guy from the college to call me back. However, I had some questions in the mean time.

 

The results FAFSA gave me was that my family contribution is $3440. How much will they pay ? I do not see any amount that they will pay anywhere.

 

Suggestions or links on financial aid info ? I am a newbie at all of this stuff.

[TxQuiltGirl]

That's what you'll find out from the financial aid person. We can't really tell you what aid you'll get.

[Lighthouse84]

LOL okay - Thanks

[Lighthouse84]

well I think I have a better understanding after reading this:

 

The EFC is the amount of money your family will be expected to contribute to your education. The EFC is subtracted from the school's Cost of Attendance (COA), also known as the "student budget", to arrive at your financial need: Financial Need = COA - EFC. The student budget includes tuition, fees, room and board, books and supplies, travel, and personal and incidental expenses.

[Lighthouse84]

I received a student financial plan from the school today. They are asking for my signature to commit to this plan. I will be calling the guy in the morning, but have some questions here as well.

 

The total cost of tuition for the period I wanted to enroll for is $9,900.00. My EFC is $3440. The financial plan breaks down the payment of my tuition as follows: $100 deposit, $2575 cash commitment, $600 pell grant (whoa!), $2,265 subsidized stafford loan, $4,000 unsub stafford.

 

I am not seeing any AID being contributed here other than the pell grant. The other are LOANS I will have to pay back. Where are the funds from AID coming into play ?

[TxQuiltGirl]

I received a student financial plan from the school today. They are asking for my signature to commit to this plan. I will be calling the guy in the morning, but have some questions here as well.

 

The total cost of tuition for the period I wanted to enroll for is $9,900.00. My EFC is $3440. The financial plan breaks down the payment of my tuition as follows: $100 deposit, $2575 cash commitment, $600 pell grant (whoa!), $2,265 subsidized stafford loan, $4,000 unsub stafford.

 

I am not seeing any AID being contributed here other than the pell grant. The other are LOANS I will have to pay back. Where are the funds from AID coming into play ?

 

 

 

Loans are considered aid. AID means that you are receiving help - and you are, in the form of loans. If you don't like it, you can appeal it (not likely to help much) or you can choose not to accept it.