<p>Somethings I'm just curious about:</p>
<p>Say I get a full ride because my EFC is 0. Will that limit some of the choices I have? For example, if I wanted to get a single room, and there was a triple (which would obviously cost less) available, would I be required to take the triple if I want it paid by the school?</p>
<p>Also, is "regular" college like community colleges, where credits cost a certain price? Would there ever be a situation where the school will only pay for four classes, and I wanted to take five so I have to pay for it myself?</p>
<p>Last thing, say I travel abroad, and the tuition at foreign-school costs way more than the tuition at my US-school. If the school says they'll use financial aid to cover study abroad, will they cover it all or only use the amount they have set for my US-school? To give an example: tuition at US-school costs $30,000. Tuition at abroad-school costs $50,000. Would the US-school only use $30,000 to cover the abroad-tuition and I would have to come up with $20,000 by myself?</p>
<p>Thanks!</p>
<p>Your questions may have different answers depending on the school you end up going to. You should investigate each school in which you are interested to see if there are answers on the web sites. One thing to be aware of, tangential to your first question: if you're expecting a full ride, that still could (and often DOES) mean that you will pay something. Many schools don't ask parents to pay because of low EFC, but students are often still expected to take responsibility for their education through summer and/or Work Study jobs.</p>
<p>if your EFC is zero & your school happens to be one which meets 100% of need ( most DO NOT),your need can be met with any combination of loans, grants and work study.</p>
<p>Keep in mind that if the school meets all your need, it will most likely be need aware rather than need blind & they will be looking for the most qualified students to give their money to.</p>
<p>Also keep in mind, average amount of loans for graduates, while loans and other self-help do count as meeting need- you optimally do not want over $20,000 at graduation.</p>
<p>But as I mentioned, most schools do not meet 100% of need, particulary in this financial climate.Be aware some schools will give merit awards and such to freshmen, to attract students, but the next year is not so generous.</p>
<p>Out of state public schools rarely offer much or any aid, for that matter, I haven't noticed * in-state schools* to offer much either.</p>
<p>For students with exceptional need, there are outside grants like Gates grants to help them go to school- but keeping overall costs low,regardless of what aid is received, is a good goal.</p>
<p>I don't know about all schools but can tell you how it works at my daughter's school (a large State U). She has a 0 EFC. Between merit scholarships and need based aid her full need is met. This does not mean she can just go round choosing the most expensive options and expect them to be covered. Her aid money is a fixed amount of money. It is based on the school's Cost Of Attendance (COA). The Cost Of Attendance is an averaged student cost per year for Tuition/fees/room and board/books/miscellaneous/travel. If she goes for a higher cost room (for instance a single - the COA is not based on a single) than is included in the COA the school will not give her more money to cover that extra expense. If the room in the room and board figure is $5,000 and she chooses an option that is $7,000 then she has to find the extra $2,000. But if the COA room is $5,000 she chooses a room that is $4,500 then she will get $500 refunded to her. The same if her books cost more than the 'average' in the COA (which her tend to because she is a science major). If she signs up for more credit hours than the number included in the COA then she incurs extra cost. (she actually does not incur extra tuition costs because her merit scholarship includes a full tuition waiver - she does incur additional fee costs. If she were on a regular merit scholarship rather than a full tuition waiver she would incur the extra tuition costs as well).</p>
<p>For study abroad her financial aid package and merit award will stay exactly the same if she goes to a school with a reciprocal agreement (at these tuition & fees are paid to the home university) with her school. Any additional costs will be hers. If she were to choose to go to a study abroad program that does not have a reciprocal agreement with her school then he tuition waiver would not apply and she would have to pay out of pocket.</p>
<p>Thanks for the replies. I don't expect to get a full ride anywhere, but I was just curious about what financial aid meant and how the school determines the COA.</p>
<p>At most schools the COA will be the same for all students at the school. Often there will be variations based on things such as living on campus, off campus without family, off campus with family. Some schools may be willing to make some adjustments based on certain things. For instance they may include the cost of a computer if a certain degree requires a computer.</p>
<p>For my daughter we feel that the allowances in the COA for some expenses (such as travel) are more than her actual expenses while the allowances for others (such as books) are less. So it all kind of balances out in the end.</p>