<p>My son received a letter from Rutgers saying congratulations, you have qualified for financial aid. However, two items are actually merit scholarships he was already advised of (one from the state of NJ, one from Rutgers), and the next item is a Stafford Loan-which is clearly a Loan that needs to be paid back, right?</p>
<p>So, why would the school say congratulations you have qualified for aid and then not list any aid? Any thoughts?</p>
<p>Thanks</p>
<p>Financial Aid according to the Rutgers site (and how I think most colleges define it). Your son received two of the categories.</p>
<p>Sources of Aid</p>
<p>Basic types of financial aid can be divided into three categories, including gift aid (grants, scholarships, and fellowships), loans, and employment:</p>
<pre><code>* Gift Aid (scholarships, awards, and grants) does not require repayment
<p>In developing your aid package, decisions are based upon financial need, qualifications, and the funds available to the university.</p>
<p>Thanks for the info. You seem very knowledgeable. Maybe you could answer another question for me…we received today a letter from TAP-NY State Higher Education Corporation, saying since he applied to a NY school, to fill this application in for aid. But we live in NJ. Do you know if TAP is only applicable to NY residents, which I assumed it was? thanks</p>
<p>PS: forget it; I just read at another post that TAP is only applicable to NY residents. Still, I wonder why they mail these applications to applicants who clearly say they are out of state.</p>
<p>Actually I am not that knowledgeable but there are many other folks on these boards who are and I have learned a lot!
Also yes I think the TAP is only for NY residents going to NY schools - we received a similar letter - we live in NY - but my d ultimately decided on a PA school.</p>
<p>no rim TAP is for anyone who is applying to NY schools not just for residents</p>
<p>never mind must be confusing it with something else . </p>
<p>Am I eligible for TAP?
The NYS TAP program is intended to cover the tuition costs at New York colleges and schools. Visit the TAP section to learn more.</p>
<p>To be eligible for TAP, you must be a New York State resident and attend an eligible school or college located in New York State. You must file a Free Application for Federal Student Aid (FAFSA) and list a New York State school or college on the form.</p>
<p>Thanks! We are NJ residents. So, no luck with TAP</p>
<p>Stafford Loans are considered Financial Aid because, while they must be repaid, they are not based upon a person’s income level, ability to repay, or credit score, and are available to virtually ALL students regardless of EFC (There are two types, one of which (Subsidized Stafford Loan) is strictly need-based. The Unsubsidized Stafford Loan is not need based.) The Stafford Loans are also governed by the Federal Government so as to be affordbble when a student enters repayment (income contingent payment plans, forebearance, deferment, 10+ years to repay, etc.)</p>
<p>I suppose when any school is offering loans as part of their “financial aid” package they are using the definition of “aid” as “to provide with what is useful or necessary in achieving an end” </p>
<p>Logically speaking it “is” aid.</p>