<p>I applied at the University of Toledo and was selected for verification. Now they said that they would have a financial aid package ready “as soon as possible”.
My EFC was 5700 dollars, what aid do you believe that I will be eligible for. The reason I am asking is because my parents don’t have good enough credit to co-sign on a private loan. I am really eager to find out how much they will give me. UT has already given me two 2000 dollar scholarships do these affect the aid that the government is willing to give me. Do you think that with that EFC I would qualify for any pell grants or such. I was wondering if anyone knew the answer to these questions, thanks.</p>
<p>With an EFC of 5700 you will not qualify for any Pell grant. The highest EFC that qualifies for Pell grant is 4042. You should qualify for some govt. loans and possiby work study.</p>
<p>What is really involved with the work study program?</p>
<p>Work study is offered as part of a need based financial aid package. You apply for and are interviewed for the job just like any job. You work and are paid an hourly amount that is paid to you in a pay package. WS income is taxable fo federal and State taxes but not social security and medicare. It’s main benefit is that WS income will not impact your EFC the following year (which other income will/may).</p>
<p>Jobs available will vary according to your school. Anything from office work to cafeteria to working in the rec center to lab assistant and sometimes off campus community service type jobs such as tutoring. My daughter is a lab assistant. Working on campus is nice - no travel time. And she has found her prof to be very flexible when her schedule is busy (finals etc).</p>