Someone please remind me...

[Qwest]

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Hey-

I submitted my FAFSA a while back ago and was wondering when we'll find out how much $$ they're giving us?

When they do give us a number, will that number apply to ALL the schools you listed (state and private) or individual schools?

Thanks in advance,
Mike

 

[paean]

The FAFSA gives you a number of the amount they expect you and your family to be able to contribute (EFC) to your total educational cost next year. To find out your need, subtract the EFC from the estimated budget. As budgets vary, the amount will differ at each school.

As for how much aid you get, that number, and the composition (loans, grants, work-study, etc) is set by the financial aid office of each school individually, and while they use the EFC, some also look at other measures of your (familial) potential resources as well.

You can always take out unsubsidized or private loans to cover the EFC (remember, by definition you aren't supposed to need your EFC, even if most of us do), so don't stress too much about not having enough to pay tuition and live modestly. Just expect that you will have debt when you graduate, like the rest of us.