Can someone help me interpret my financial aid?

Paying for College
1

<p>Estimated Cost of Attendance<br>
Basic Living $13,854.00<br>
Books and Supplies $1,601.00<br>
Fees $13,082.00<br>
Transportation $722.00<br>
Out of State $0.00<br>
Summer $0.00<br>
Mid Year Fee Increase $0.00<br>
Other $0.00<br>
Total Cost of Attendance $29,259.00</p>

<p>Contributions<br>
Student Self Help Expectation $3,500.00<br>
Student Contribution $0.00<br>
Parent Contribution $0.00<br>
Additional Resources $0.00<br>
Total Contributions $3,500.00</p>

<p>Financial Need $25,759.00</p>

<p>Estimated Financial Aid<br>
Cal Grant B Estimated-NH $1,551.00<br>
Federal Direct Loan Sub-NH $3,500.00<br>
Federal Pell Grant Program-NH $5,550.00<br>
Federal Perkins Loan-NH $2,000.00<br>
UCD Campus Fee Grant-NH $630.00<br>
Entering UG Scholarship - NH $12,528.00<br>
Total Estimated Financial Aid $25,759.00</p>

<p>Remaining Cost $0.00
Award Distribution by Term
Award Fall Winter Spring Summer1 Special Summer2 Total
Cal Grant B Estimated-NH $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,551.00
Federal Direct Loan Sub-NH $1,167.00 $1,167.00 $1,166.00 $0.00 $0.00 $0.00 $3,500.00
Federal Pell Grant Program-NH $1,850.00 $1,850.00 $1,850.00 $0.00 $0.00 $0.00 $5,550.00
Federal Perkins Loan-NH $667.00 $667.00 $666.00 $0.00 $0.00 $0.00 $2,000.00
UCD Campus Fee Grant-NH $210.00 $210.00 $210.00 $0.00 $0.00 $0.00 $630.00
Entering UG Scholarship - NH $4,176.00 $4,176.00 $4,176.00 $0.00 $0.00 $0.00 $12,528.00
Total $8,070.00 $8,070.00 $8,068.00 $0.00 $0.00 $0.00 $25,759.00</p>

2

<p>This is what it looks like to me:</p>

<p>Total Cost of Attendance $29,259.00</p>

<p>==Free Money==
Cal Grant B Estimated-NH $1,551.00
Federal Pell Grant Program-NH $5,550.00
UCD Campus Fee Grant-NH $630.00
Entering UG Scholarship - NH $12,528.00
Total: $20,259</p>

<p>==Money you will have to pay (via loan or earnings)==
Student Self Help Expectation $3,500.00 (work-study?)
Federal Direct Loan Sub-NH $3,500.00
Federal Perkins Loan-NH $2,000.00
Total: $9,000</p>

3

<p>Student Self Help Expectation $3,500.00
Federal Direct Loan Sub-NH $3,500.00
Federal Perkins Loan-NH $2,000.00 </p>

<p>These are what you are responsible for</p>

<p>Edit: NINJA’D!</p>

4

<p>I’m trying to figure out what the self-help $3500 is…is that going to be work-study? If so, you need to ask UCD about that. If they say it’s summer earnings, then ask for some (about $2500) work study. </p>

<p>I do think the $3500 self help is a bit much…but I guess doable. If you try to cut costs for books (used books) and such, you could cut the COA.</p>

<p>Do you live close enough to UCD that travel won’t cost a lot?</p>

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<p>I live 6 hours away from UCD</p>

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<p>^^ I would assume self help would be savings from earnings going on the assumption that students with high need are probably working. You can certainly ask if they have any work/study funds that you can tap but remember those are paid to the student and the first check isn’t received for several weeks. $3500 is alot to put away if you do not currently have a part-time job but a couple thousand is doable between now and the start of school if you find one soon.</p>

7

<p>My son has about $3500 in self-help each year in his FA award. It’s not terribly difficult to meet that. He pays $2000 from summer earnings (and has enough left from his wages to have a little in the bank for the fall when he’s back at school), and around $1500 in workstudy. He’s never actually earned his full award in workstudy. He’d rather be poor and have more free time, so he works very limited hours.</p>

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<p>I know that w/s doesn’t negatively affect one’s EFC.</p>

<p>However, outside of work/study…how much can a student earn before it will affect EFC?</p>

9

<p>Student income was protected up to $3750 last year.</p>

10

<p>Protected (dependent) student income is $4500 for 2010-2011.</p>

<p>But if the family qualifies for the automatic 0 EFC the student’s income is not counted at all.</p>

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<p>what does that mean haha~</p>

12

<p>Protected student income means the first $4500 of student income is disregarded in the EFC formula. </p>

<p>Automatic 0 is a special calculation in the EFC formula. If the parent’s AGI is less than $30,000 and they meet some other criteria then the EFC is automatically set at 0 and all other data (parent and student assets, student income etc) is ignored</p>

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<p>Thanks for that update, SCM. That’s good news since my son’s earnings were getting close to the protected limit last year.</p>

14

<p>That’s good…</p>

<p>So, does that mean a student with - say - Work study of $2k, could then work for $4500 in the summer, and then earn $2k in work-study during the school year and be ok?</p>

15

<p>Yes…</p>

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<p>confusing. @_@</p>

17

<p>What is still confusing? We can break it down more if there’s a part you don’t understand.</p>

<p>I think you should contact them and ask for $2500 in work-study to go towards that $3500 self help. The reason is this…altho work study jobs aren’t guaranteed, often campuses have jobs that are reserved for w/s students only. So, if you aren’t given w/s, you can’t have those jobs. (others can correct me if I’m wrong).</p>

<p>Also, work-study income doesn’t count against your next year’s FAFSA report. So, you can earn the $2500 work-study during the school year, AND (if you want) also work a summer job and earn up to $4500 and not have that hurt next year’s FAFSA. </p>

<p>I hope I explained that correctly. :)</p>

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<p>Could you define “work-study”</p>

<p>Is it working part time and studying ?</p>

19

<p>Ohh…</p>

<p>Work-study doesn’t have anything to do with “studying”. Work-study is a federal program where students work part-time during the school-year (often on campus) and earn their “pocket money.”</p>

<p>Many of these on-campus jobs are reserved for w-s students, so other students can’t get them. So, that’s why I’ve recommended that you ask for some work-study. It’s nice to have a campus job (if you can get one). You don’t have to travel for your job, the hours are reasonable, many times you have nights and weekends off, etc. </p>

<p>I had a work-study job over 30 years ago. I just had to work 3 hours a day (1pm - 4 pm) 3 days a week (M, W, F). I had nights and weekends off! Plenty of time for homework and a social life.</p>

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<p>Yes, at my daughter’s college if you don’t have workstudy there really are no on-campus jobs.</p>