Need (Budget - Resources) 52,500
Now, I have an outside award in the amount of $4,000 (One year only, not renewable). Outside scholarships first reduce FWS or Term-Time job, then Student contribution. So, my Term Job will be fully "covered", and $1,000 of my student contribution will be taken off.
I have a few questions:
1. What is the point of including the Job in my financial aid package? The school is not "giving" me that, I have to work for it, so why is it factored into how much I will have to pay for school?
2. Are direct-billed costs ((Tuition&fees PLUS Room&board) MINUS (Grant Aid)) DIVIDED BY two?
3. If the above is correct, then my direct-billed costs are ((40,866+13,630) - (49,500)) = 4,996 DIVIDED BY 2 = 2,498 (per term)????
4. However, with the scholarship, since $1,000 of my contribution is covered, I will only have to pay $600, Meaning my direct-billed costs for the first year is $3,996, and what I pay per term is $1,998? [/*]
5. So basically, $3,000 of my scholarship went to "nothing"? Because it didn't affect my family's out of pocket contribution?
I am not clueless about financial aid, I'm just trying to figure out what we can expect on our first bill. Thanks in advance.