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I need helping understanding my Financial aid reward. I'm doing this alone.

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Replies to: I need helping understanding my Financial aid reward. I'm doing this alone.

  • HImomHImom Registered User Posts: 29,526 Senior Member
    Please do NOT count on getting more funding after you start a U. You have to start with s form plan on how you will pay for all the projected costs for 4 years, including predictable increases. Generally most schools give the entering freshmen their best possible offers to entice them.

    If you happen to get scholarships, that could lessen your loans but they will be VERY competitive.

    If you want help, you have to use numbers--
    Total projected cost per school for 4 years
    Minus total scholarships and grants per school for 4 years

    That is the Net number you have to laser in on. Everything else is just noise. If you want folks here to weigh in, list each U and those numbers.
  • mommdcmommdc Registered User Posts: 8,958 Senior Member
    Your best bet for finding local scholarships is your high school guidance counselor. Ask them, since your are low EFC you should hopefully be able to get some, but they are often $500-$1000 and not renewable.
  • 3puppies3puppies Registered User Posts: 1,076 Senior Member
    Also, you may want to ask the FA dept eat each school if students have difficulty earning their full work study offer. I was recently reading another thread where students were complaining that there were not enough work study jobs available - or the ones that were offered too often conflicted with class times etc.
  • OHMomof2OHMomof2 Registered User Posts: 10,164 Senior Member
    Make the chart! I'm glad to help with that if you need, I have one from D's senior year. Just PM me.

    Right now it looks like you have offers from:

    U Dayton
    Miami U
    Case Western

    cost roughly in that order?
  • sybbie719sybbie719 Super Moderator Posts: 20,828 Super Moderator
    @synful122 wrote:

    well I'm borrowing $5,500 I also plan on doing the $2,500 work study at where ever I go. And my sister I asked her and she said she would be willing to pay for like $1,500/sem so $3,000/yr.

    I would not count on work study. Work study is taking a major cut in the new budget and SEOG is being eliminated.
    NASFAA wrote:

    The administration’s first budget request is light on details and known as a “skinny budget,” providing a high-level fiscal blueprint for the administration’s priorities. Overall, President Donald Trump proposed a 13 percent decrease to education spending. The budget also proposed eliminating the Supplemental Educational Opportunity Grant (SEOG) program, removing $4 billion from the Pell Grant surplus – which would not immediately result in a Pell Grant decrease – and significantly decreasing funding for the Federal Work-Study program. The proposal also suggested reforming the FWS program to redirect funds to “undergraduate students who would benefit most.”

    https://www.nasfaa.org/news-item/11556/Trump_s_Fiscal_Year_18_Budget_Eliminates_SEOG_Reduces_FWS_and_Raids_Pell_Surplus
  • MYOS1634MYOS1634 Registered User Posts: 31,492 Senior Member
    ^Yikes: Especially since work study is already need-based so it already goes to "those who would benefit the most".
  • mommdcmommdc Registered User Posts: 8,958 Senior Member
    Yes, but they might make it so that it is only for students with the lowest FAFSA EFCs. Especially if they take SEOG.

    At the public uni where my D attends, she doesn't have a FWS award. But when she got a financial aid package at a private school when she was applying as a high school senior, she was packages with FWS.

    Same FAFSA EFC, but higher COA at private school, so higher need. But that doesn't mean that our EFC was very low.
  • Synful122Synful122 Registered User Posts: 60 Junior Member
    Yes it's in that order. I'll pm you for the chart!
  • Synful122Synful122 Registered User Posts: 60 Junior Member
    I ended up getting an email back from the Case FA, and they said they reviewed it and of course they said they wouldn't change it. I'm wondering if I could somehow get that loan reworked to someway I could take it out without it being like 100000x more in interest and all that crap you know. I would jump completely on board with Case if that loan was not having to be a parental loan. I know that it will have to be most likely but IDK. Although my sister is willing to give me some money for college I would prefer not having to take any money from her. So if I can do work study and take out my max loans, I really don't mind taking any money from her and would prefer not to. If I have this parental loan I may just have to take money from her.
  • Synful122Synful122 Registered User Posts: 60 Junior Member
    From what I'm reading I think I would most likely be safe from those cuts. For one my EFC is zero and my father makes barely $25k/yr from social security, I don't even think it's that much I'm not exactly sure. But also it did say it wouldn't cut most costs immediately so that probably means my 3 years after that bill passes (if it does) will probably be safe, because the government works slower than molasses.
  • Macmo1Macmo1 Registered User Posts: 57 Junior Member
    I think your best bet is to cal the college, but I believe that they are giving you the 7500 and the grants would also not need to be repaid. (So an additional $6800) so you would actually be borrowing the loans of $5500 for the year to be repaid and you could also work for $2000 in a work study. The work program offers incentives to on campus employers to hire students, so you would have priority to get a job oversomeone not in a work/study option. You might try calling to see if they would increase your scholarship a bit. Good luck!
  • Synful122Synful122 Registered User Posts: 60 Junior Member

    2017-2018 Financial Aid
    Source
    University Scholarship $23,500
    CWRU Grant $21,000
    Federal Pell Grant $5,920
    Federal SEOG (Grant) $1,800
    Ohio College Opp Grant $2,832
    Fed Work-Study Program $2,500
    Federal Direct Unsubsidized Loan $2,000
    Federal Direct Subsidized Loan $3,500
    Total $63,052
    What they gave me.
    2017-2018 Expenses
    Billable Expenses
    Tuition and Fees $48,040
    Housing and Meals $14,784
    Additional Expenses*
    Books and Supplies $1,200
    Transportation $200
    Personal Expenses $1,350
    Total $65,574
    *These figures represent estimates of expenses.


    2017-2018 Direct PLUS Eligibility
    Federal Direct PLUS Loan $2,522
    ---- Actual costs
  • Synful122Synful122 Registered User Posts: 60 Junior Member
    @Macmo1 That's the exact numbers from Case Western. I also have another question. Since those are estimates on my additional expenses, couldn't I live off of like half of those personal expenses and stuff, or should I just actually take a loan out for what they recommend?
  • twoinanddonetwoinanddone Registered User Posts: 14,094 Senior Member
    You will be billed about $62,824 for tuition, fees, room and board (don't be surprised if it is a little higher next year; things change). Your account will be credited $55052 in grants/scholarships. You will need $7772 to pay the school, and your loan of $5500 will leave you $2272 to pay TO THE SCHOOL. You'll also need some money to live on - to get to and from school, to buy toiletries and supplies and OTC meds and new clothes when you need them. You'll also need to buy books. Will all those things cost $2700 as they estimate? That you control. That is not an unusual amount. You can save a little by not spending, not traveling much, but you'll need to buy books and a few necessities.

    Don't consider the work study in your calculations. You have to work for that money, and you can spend it as you earn it on the necessities.

    If your parent/sister has the $2272 to pay the school (half in Aug, half in Jan) you won't have to borrow anything and can use your workstudy/summer earnings to pay expenses, to get started with your books. If not, you'll have to figure it out.

    This is really a very good package. Very rarely do schools award aid that doesn't expect the student or family to come up with something to pay toward the bill.
  • Synful122Synful122 Registered User Posts: 60 Junior Member
    @twoinanddone Yeah, I figured that the actual school bill and stuff I can pay myself. Just take out max loans + work-study and pay it off. But I'll probably end up taking some money from my sister for books and other living expenses.
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