Paying for college

financiallylost
Tue, 05 May 2015 23:38:13 +0000

@mythbloodpk Not necessarily, it mostly depends on each individual’s family income and EFC.

My and my sibling had about the same EFC for all of 4 years. Our Pell Grant increased each year because the government raised the max amount. My state grant was the same for the first two years, then decreased by $400 in the third year, but stayed the same for senior year. My sibling had a large state grant for freshman year, but that was cut in half for sophomore year. Aside from that, they did not get less in grants during any other point in their 4 years.

We both got two university specific grants starting sophomore year, Funds for the Future and the Virginia Tech Grant. These grants are distributed only to returning students and they increased slightly year to year. We both got a few hundred dollars more per grant each year.