FASFA, tuition reimbursement, and financial information...

Paying for College
1

I am hoping to be accepted into a nursing program in the fall 2017, but still feeling pestimistic on my chances. I applied for FASFA this year and I feel I screwed it up.

They asked if I was married and I was married on November. I wasn’t married in 2015 so I didn’t include my wife’s tax information or income.

The program for the first 2 semesters will be about $3,000 total and you buy all your books in the beginning ($500). So about $4000 the program cost the first year. I receive $3500 from work for tuition reimbursement for a year.

I receive $1500 for fall 16. If can keep grades above a C+ can receive $1500 for Spring 2017. I can receive $1500 for fall 17 and $1500 for Spring 18. Then for the fall 18 and Spring 19 I can use FASFA.

Can use the $6,000 to pay off my credit card bills and pay out of pocket for nursing school the first year. Wise decision or apply the money to school?

Thoughts appreciate the feedback.

2

If you were married the day you filed your FAFSA, I believe you are required to include your wife’s 2015 income.

@kelsmom??

3

Any grants or scholarships that exceed tuition, fees, books are taxable income.

I would expect that the employer would send the tuition reimbursement right to the school to make sure it is applied to your tuition cost.

Check with existing nursing students to see if they can sell you their used books cheaply.

Is this program at a community college? Make sure it is accredited and not a for-profit school.

4

If your school costs $4,000 for the year and you get $3,500 in tuition reimbursement and $3,000 scholarship?, then scholarships will exceed qualified education expenses.

What can the $1,500 scholarship be used for? If the employer covers tuition already, what will they apply the $1,500 per semester to?

5

Received $1500 from what source? Is it a Pell grant? Is it a school scholarship for tuition? You need to make sure you will receive this money. Some schools will not give the cash to the student but only use it for tuition. If it is a Pell grant, you can do anything you want with it (pay credit cards, pay living expenses). Some employers will only pay after the grades are in, so you have to advance the money for tuition (or in this case use your $1500) and wait until you complete the semester to get reimbursed. Once you are reimbursed, it’s your money. Pay your bills, pay your tuition, save it.

6

Actually…in all cases, need based aid will be applied to billable costs FIRST. So if a student receives a Pell,or SEOG, and has billable costs theynow to the college…the bills will be paid first.

The student will only get a refund IF there is money left over after the billable costs are paid to the college with thse funds.

7

I’ll have to double check; I believe the money is advanced to me after I submit grades & bills to the reimbursement service work uses.

I am not eligible for Pell grants since I am a second degree student.

If I take Lifespan this summer I will only have nursing classes for next 4 semesters. 8 credits, 8 credits, 10 credits, and 12 credits. One credit cost $180 each.

I believe the total cost is $7500 (Including uniforms and books).