When the government grants college aid through FAFSA does that money go straight to the college?
Wondering if the college gets their full tuition regardless if a student is receiving aid or does the college
Lose out?
Yes. Colleges get full tuition in all cases I’ve heard of.
just clarifying.
If a student receives something like a Pell Grant of $5900 and that is all the need based aid they receive…the STUDENT would be responsible for paying the difference between that $5900 and the cost of attendance.
Getting any amount of need based aid…that aid is subtracted from the billable costs and the student/family pay the rest.
They don’t get the balance waived.
The government funds go to the school and the school applies the funds to the school’s bill. If there is any money left, it is given to the student (to pay for other things like books, housing, food, transportation). If the funds do not cover the school’s bill, the student has to pay the rest unless there are other funds, from the school (merit, need, department) or outside scholarships.