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Financial Aid Award Letter Help?
Hello all. I have a few questions about a Financial Aid Award I received from a school I got accepted into.
I got the Financial Aid Award Letter and it was broken down into two parts and this is where I got confused.
So the Cost of Attendance is (let's say) 25,000. This is one the right side of the letter.
And on the right side, it says "Need Calculation" and it has a bunch of numbers that included "Estimated Family Contribution" and there was a final number on the bottom that says "Need."
(Let's say this number is 20000)
My question is, do I have to pay this "Need" that the School offers if I accept it?
3 Answers
- MerryLv 78 years agoFavorite Answer
Yes, the "need" is what you're short. However; if the school is $25,000, the highest that your "need" should be is $19,500 since all freshmen can take out $5500 in Stafford Loans.
But, you are correct that the "need" is the money that you need to come up with - either by finding more scholarships or taking out private student loans (which I wouldn't recommend).
- ?Lv 45 years ago
you are able to refuse the artwork-learn, yet they are frequently tremendously comfortable jobs. I had a college artwork learn interest offering tutoring for Veterans and made triple what the minimum salary on the time grew to become into. (those have been returning Vietnam Vets, so this grants a concept how previously it grew to become into). My son grew to become into presented a artwork-learn interest his freshman year of faculty, yet did no longer take it, by using fact he did no longer desire to do telephone prospecting for college pupils on behalf of the college- it grew to become into "too very like telemarketing" for him. He did get a artwork-learn interest that grew to become into top in line together with his pc technological awareness important, and whilst the pc upkeep grew to become into outsourced to a private corporation, he have been given a job with the corporation at an somewhat sturdy salary for a college student. yet you're able to desire to do what's top for you and not danger your GPA. perhaps you're able to desire to verify what the interest is previously you turn it down- is it working interior the college cafeteria or is it something greater in line with your important, which you additionally can use as interest journey and an employment reference after commencement?
- 8 years ago
No it's saying not all of your money is in, did you do a FAFSA for your EFC? Call the fin aid office they'll break it all down.