Don't know anything

Paying for College
1

<p>I am a little stressed out about how to pay for college…can someone please explain to me how financial aid, loans, and scholorships work?? When do I need to turn in forms and how much can you get? Thanks in advance.</p>

2

<p>each college has its own deadlines… you need to</p>

<p>Need based aid:

  1. File FAFSA
  2. File CSS (if applicable)
  3. Send in latest tax returns
  4. File financial aid application</p>

<p>Scholarships:

  1. Each has its own app… do whatever it asks for
  2. Some colleges automatically qualify you for scholrship consideration. Just staick to the deadlines</p>

<p>You can get full tution as a max. Your aid is (in a 100% meeting need place) Tution - EFC (from FAFSA)</p>

<p>For me, I sent in my parents tax returns and CSS and FAFSA and based on the EFC, Rice gave me aid. I sent in everything by Feb 1st… and my tax returns by March 1st</p>

3

<p>You can get more than full tuition. If your need is high, you can get up to full cost of attendance (COA). COA includes tuition, room and board, books and supplies, personal expenses and travel allowance.</p>

<p>Each college you are accepted to will give you an aid package which may include grants/scholarships, loans, and work-study. If you receive outside scholarships, most colleges will reduce your need-based aid, but many will reduce the loan instead of the grants, resulting in a better package.</p>

<p>I think it is rare to get everything fully covered, but my sons’ need based aid packages covered tuition and about half of the room and board cost, and we are not poor.</p>

4

<p>If you are a highly desirable student, you may get more aid.</p>

<p>My son had two offers where 100% was covered and another offer where everything except food was covered (plus he got a laptop).</p>

<p>It is in your best interest to fill out an online FAFSA calculator to see where you stand.</p>