<p>My D is still waiting to hear about admission from her num1 pick college.
However the 2 other schools she is considering accepted her long ago both with merritt scholarships. </p>
<p>We recieved the fin aid award letters last week for theses other 2 schoolsand I'm a bit curious about something. I understand how each school can offer a different grant. But how do they offer different federal aid? Both offered the typical $5500 in combo sub and unsub loan. However one of the schools offered; additional Fed Sub Grant, perkins loan and federal work study the other did not? They are using the same Fasfa info, is it that one of the schools gets a bigger pool of fed money?</p>
<p>Schools can differ in the federally funded part of their financial aid offers, for various reasons.</p>
<p>There are some federal aid items that are what are called campus based aid. This means that a school only has a limited number of $$$ to award and once those $$$s are awarded they can not get any more. As these are so limited they set their own criteria of how to award it and what amounts they will award. Campus based aid included SEOG grants, Perkins loans, and Federal WS. A lot of schools set the criteria for SEOG at 0 EFC. The maximums may vary. For instance at both my schools the criteria for SEOG eligibility is 0 EFC but at my son’s school their maximum award is $200 while at my daughter’s it is $2,000. Some schools do not even have any Perkins funds to award.</p>
<p>Non campus based federal aid such as the Pell would be the same at most schools, though loans such as the Stafford may vary according to your need at a particular school. Campus based aid is unlikely to be the same at any 2 schools.</p>
<p>It think some federal aid is an entitlement…which you means you get it if you qualify. Other fed aid isn’t “entitled” and schools get a limited amount and dole it out as they see fit.</p>
<p>Thanks for the answers, that helps clear it up!</p>