<p>I have a EFC of 0
pending tap
U.S citizen of New York since my whole life
Majoring in business</p>
<p>How much will I need to pay for each of these colleges with the information provided? What you think?
What other ways are there for getting money for college?</p>
<p>Signed up for:
University of Albany
Canton
SUNYIT
StonyBrook
Binghamton
NYU
Alfred State College
New Paltz
Oneonta</p>
<p>I have to give credit for this response to swimcatsmom. I found one of her old posts, and I'm cutting and pasting: (they really need to put her response as a sticky)</p>
<p>Federal Student aid consists mainly of:
Grants (do not have to be repaid)
Pell:The maximum for 2008-2009 was $4731 (supposed to increase in 2009-2010). Is EFC based. For 2008-2009 it required an EFC between 0-4041. 0 EFC got the maximum grant then the amount of grant goes down as the EFC goes up, phasing out at 4042.
SEOG: Usually awarded to the neediest students. Schools set their own criteria. (unlike the Pell where if you qualify by EFC you get it). At my daughter's school it requires a 0 EFC and early FAFSA submission. The maximum varies by school. (schools are given a limited amount of SEOG dollars to award so decide how to best allocate the money. Some students meeting the school's criteria may not get it if funds are depleted). The max by federal rules is $4,000 but schools set their own max depending on how many students they may need to award it to. The max at my daughter's school is $2,000.
ACG:Freshmen/Sophomores only. $750 freshman/$1300 Sophomore. Requires Pell eligibility and certain academic requirements - rigorous HS curriculum, certain HS GPA. Cannot have graduated HS before (I think) 2005.
SMART:3rd and 4th year students only. maximum = $4,000. Requires pell eligibility, certain majors, and a mimimum GPA.
.</p>
<p>LOANS
PERKINS:Subsidized loan. Neediest students. $4,000 maximum. Limited funding. 5% interest rate. Govt pays the interest until after graduation or dropping below half time plus for a 9 month grace period. Some posters reported their schools not getting much Perkins funding this year.
STAFFORD:Combination of subsidized and/or unsubsidized. For a freshman the maximum is $5,500 of which a maximum may be subsidized if there is 'need'. Subsidized 6% this year, dropping each year for the next several years, 6 month grace period. Unsubsidized 6.8%. Interest starts from day 1 but repayment of interest and principal may be deferred until after graduation - interest is capitalized.</p>
<p>WORK STUDY You get a job on campus and are paid an hourly salary. The benefit of a WS job is that the earnings are not held against you by FAFSA the next year.</p>
<p>Above are 2008-2009 figures. They may change for 2009-2010.</p>
<p>So, in your situation you will basically get:</p>
<p>Pell Max 4700
NYS TAP Max 5000
Stafford Loan 5500
Work study</p>
<p>Possibly Get
SEOG: limited funds
Pekins Loan
ACG -Academic competitive Grant (if qualified) 750</p>
<p>I would not expect much in the way of "institutional aid" from the state schools. NYU also has a rep for not meeting need.</p>
<p>WHat are your stats?? As you probably know, Alfred State has free rides (tuition,room and board for students with SAT's of 1200+ and a GPA of 93)</p>