Can I afford going?

Paying for College
21

<p>How much do you need to go to the summer term before any awards, loans, etc? That includes estimated room and board, books, expenses as well as tuition. </p>

<p>You can then subtract out the PELL. This gives you what you need to borrow. Do you know anyone that would put you up for the summer sessions, relatives, friends of family? That can bring down the living expenses. Books you can order from the library and check them out twice. Check out buses or getting a ride for transportation. Once BF kicks in for the Fall term, you will be in better shape though you will have to borrow to pay room and board for the school year, and probably look for a job to meet other expenses. </p>

<p>Can one take out Stafford loans for the summer? How do they work for summer sessions and how are the annual limits affected if the loans are taken for the summer?</p>

22

<p>Yes, Stafford loans are available for summers, subject to the normal limits. Since they seem to use a summer trailer, he should be able to take loans this summer without impacting fall/spring…I think!</p>

23

<p>If they are a summer trailer, then the loans would not affect the fall/spring.</p>

<p>isenior, you weren’t asked for any of your info because you fall under the Automatic 0 EFC formula based on your family’s AGI plus your answer to another question (I am thinking you are the student with free/reduced lunch, right? If so, that is why it’s Auto 0). Nothing matters other than that for you, so no other info is necessary.</p>

<p>Point of clarification about Pell in summer: If the summer term includes June 30 and July 1 (not just your classes, but the school’s “summer term” definition), the Pell must be paid from the year in which you would receive the highest Pell payment. For this student, we’ll assume the EFC both years will be 0. It doesn’t look like the Pell for 11-12 at 0 EFC will be higher than 10-11, so the school will use 10-11. For this student, his 11-12 Pell eligibility will not be affected.</p>

<p>There are scenarios where 11-12 will be a higher Pell payment for a particular student. In this case, the school has to use 11-12 (regardless of whether summer is header or trailer). This CAN affect future Pell payments for the fall/spring, since academic progression will come into play … and if Congress does eliminate 2nd Pell in 11-12, the spring Pell may be affected. Also, for a student who would receive ACG or SMART in summer if the 10-11 EFC is used for Pell, they can lose the ACG/SMART payment if the 11-12 Pell payment would be higher (the school HAS to use the higher payment, even if it means that the student loses ACG/SMART). This won’t affect isenior most likely, but others can be affected.</p>

<p>isenior, as soon as you graduate, send the final high school transcript (with graduation date) to your financial aid office for ACG … summer is the final time you can receive ACG, and you will want to try to get it, if possible. No ACG after 10-11.</p>

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<p>Isenior, this is where the financial aid officers at the school can be worth their weight in gold. They can help you make this happen as they will have all of the pieces. Kelsmom and some of the other posters here who work in fin aid offices have a lot of the information but only the ones specific to UF will have all of the available info. Good luck and enjoy. I’m sure you will be able to make this happen.</p>

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<p>Before I reply, not sure if I asked this already, but should I have added the net rental income to my dad’s “earnings from work” on the FAFSA? </p>

<p>Okay, so BF is pretty much 75% because it pays $125 per credit hour and UF is $168 per credit hour. </p>

<p>Oh, I see. Well on the UF website it says the estimated cost for Undergrad Summer Term (A+B) is $6450. I’m only doing Summer B though so I’m not sure about the cost then. If tuition is only the cost per hour then Summer B would be 6 credits x 168 = $1008 but on the site it says $2010 so I think the 6450 is for both terms then. If anything I can ask my grandmother for a few thousand dollars but I’d rather use that on the other terms, which is why I want the switch. I know UF has free buses for transportation to getting to classes. I have my own car also.</p>

<p>kelsmom, yes, I am that student. How will I know if I have to be verified? Will I get an email or am I supposed to check on the FAFSA site or the UF site? Will I get two financial aid packages, one for Summer and one for Fall/Spring? I will file the second FAFSA form on Monday hopefully but what if my EFC increases slightly to maybe a few hundred or something? Our net rental income is a few thousand higher this year but I believe my dad said that his earnings were lower in 2010. Just a thought.</p>

<p>Okay thanks for the info, kelsmom. I will try to get that ACG then. </p>

<p>cptofthehouse, thank you and thank you to all who have helped me. I deeply appreciate it. I will call on Monday. But what should I ask? I don’t want to sound or say anything stupid so I want to have my questions prepared beforehand. </p>

<p>Btw, I picked this up from collegeboard if it helps:</p>

<p>Full-time freshman enrollment: 6,316
Number who applied for need-based aid: 4,725
Number who were judged to have need: 3,060
Number who were offered aid: 3,058
Number who had full need met: 887
Average percent of need met: 83%
Average financial aid package: $12,470
Average need-based loan: $3,200
Average need-based scholarship or grant award: $7,265
Average non-need based aid: $1,770
Average indebtedness at graduation: $16,013</p>

<p>EDIT: I think Summer is considered trailer because on the fin-aid link to check your awards/disbursements it says “Fall, Spring, Summer (2010-2011)” and “Fall, Spring, Summer” (2011-2012)".</p>

<p>The Summer B term starts June 27th and ends August 6th. Check this <a href=“http://www.registrar.ufl.edu/catalog/adhub.html[/url]”>http://www.registrar.ufl.edu/catalog/adhub.html&lt;/a&gt; though because it groups Summer 2011 B and Summer 2012 B both into the 11-12 academic year…</p>

26

<p>I really can’t help you in the specifics, but want to say that I am impressed with how you are planning and handling all of this. I wish you well, and feel that you are going to be doing just fine. I hope your parents are proud of all you have accomplished in being so independent and responsible.</p>

27

<p>Before I reply, not sure if I asked this already, but should I have added the net rental income to my dad’s “earnings from work” on the FAFSA? </p>

<hr>

<p>No, because that is included in the AGI. </p>

<p>Yes, it does sound like summer is a trailer. However, you need to make sure. Some schools treat the first summer session as a trailer & the second as a header (this helps them avoid the dreaded crossover term, which is a headache for aid offices).</p>

<p>Yes, you will get an aid offer for summer, then one for fall/spring. Two separate aid years (and most schools do NOT include summer in the normal school year aid package).</p>

<p>Don’t worry about the change in AGI. If your AGI stays under $31,000, you will still have a 0 EFC.</p>

<p>When you call, just explain that you will be starting school for the first time in the summer. Tell them that you are totally confused about how things work, and you would like to have someone explain everything to you. I answer calls like this all the time! :)</p>

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<p>Also ask them about verification!</p>

29

UF is terrible when it comes to financial aid. In 2013, I was planning to attend UF, but my financial aid package was so bad that I was forced to choose a different school. Even if I maxed out on the government student loans I was offered, I still would not have been able to afford UF.

30

Boy I hate reading a thread and finding out it was from 2011

31

Please only use old threads for research. Closing.