does anyone know exactly what does what? Does FAFSA give you federal aid? federal loans? both? Is PROFILE for private schools only? This fin.aid/loan/scholarship stuff is almost more of a pain than applying....
Scholarships/Loans/Aid and FAFSA/PROFILE
- Thread starter fizzbot
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I agree, it is almost more of a pain than applying.
The FAFSA will determine your EFC (estimated family contribution) for the government. Based on this you can get federal loans, but they will be through a lender and through your school (e.g. ours are through Sallie Mae). The FAFSA also has info that schools will use to make a determination of what they think your "need" is, and based on that they will offer you scholarship/grant or other instutitional aid. After you complete the FAFSA and whatever institutional forms you are required to complete, schools will send you an award letter that lists how much they will give you and how much you have to provide through your own assets and loans. Once you decide where to go you will generally meet with the financial aid office to determine exactly what will happen and who your lender will be.
I don't know what PROFILE is.
Oh, and federal aid is all loans, mostly Stafford. They have a nice low interest rate though.
The FAFSA will determine your EFC (estimated family contribution) for the government. Based on this you can get federal loans, but they will be through a lender and through your school (e.g. ours are through Sallie Mae). The FAFSA also has info that schools will use to make a determination of what they think your "need" is, and based on that they will offer you scholarship/grant or other instutitional aid. After you complete the FAFSA and whatever institutional forms you are required to complete, schools will send you an award letter that lists how much they will give you and how much you have to provide through your own assets and loans. Once you decide where to go you will generally meet with the financial aid office to determine exactly what will happen and who your lender will be.
I don't know what PROFILE is.
Oh, and federal aid is all loans, mostly Stafford. They have a nice low interest rate though.
