Do I have to send a deposit?

Paying for College
1

<p>I was recently admitted to a school that meets 100% of need in grants. My family EFC is $0. So, it appears to me that the institution will be completely paying for my education in grants. I have not received an official financial aid letter yet but I was wondering do I still have to send the deposit money with my intent to enroll letter? Any help would be greatly appreciated.</p>

2

<p>They will not be paying for your education all in grants. Maybe most in grants, but they will include a work-study program for you and will load you on a lot of loans.</p>

3

<p>you should be getting your aid letter before you have to send in a deposit- so there should be some sort of waiver to acknowledge.</p>

<p>I would call the admissions office to confirm.</p>

4

<p>Please don’t confuse a school that meets 100% demonstrated need with giving you 100% grant aid. Even if you are eligible for federal and instate grants it does not guarantee that it will be enough to wipe out your full cost of attendance. Even with a “0” EFC you are eligible for federal work study, which will be part of your package.</p>

<p>I agree with EK, please wait until you have an actual financial aid letter in hand. Unless you got admitted to Princeton (and even then they provide work study) or a similar school with a loan loan inititative for low income students, it is highly unlikely that you got a package that is 100% grants (unless you got a full ride scholarship).</p>

<p>I see from your posing you are considering William and Mary where the cost of attendance for the school year is ~ 17,000 (and they meet 81% of need). Will you get enough in state and federal aid to cover all of this???</p>

<p>good luck</p>

5

<p>Well on W&M’s website they talk about their financial aid initiative called Gateway: <a href=“http://www.wm.edu/gateway/[/url]”>http://www.wm.edu/gateway/&lt;/a&gt;&lt;/p&gt;

<p>It says "Participants will not have to take out student loans. Instead they can graduate debt-free to move on immediately to graduate school, professional education or a fulfilling career. " </p>

<p>So, I suppose this program can include work study but it blatantly says no loans and that you will graduate debt-free.</p>