<p>ok I just got accepted into my first choice school
since my EFC is 0 they gave me a fin aid package that covers all the costs
however they calculate some variable costs
for example personal expenses, books, and transportation are all included in the cost that they are covering.
So i know that in other circumstances (say the family has to pay $10000/yr the family would cover those variable costs with their own money.
Since they are paying for everything, are they going to give me that money or are they just going to eliminate it from what they will cover?
I’m really not looking for more money because I would still be happy if they only covered the constant costs but im just wondering where that money goes</p>
<p>They generally will give you the money left over after direct school costs are covered to pay for those estimated costs. My daughter lives off campus and uses the ‘refunded’ money to help with her rent, food, utilities etc.</p>
<p>Just remember that any scholarships/grants in excess of qualified education expenses are taxable income to you.</p>