<p>I just got my financial aid packages from 2 universities which id love to go to, but the composition is diffrent even though the aggeregate amount is about the same:</p>
<p>University A: 40 K University Grant
Univesrity B: 30 K University Grant, 5 k Federall Penn Grant, 5 K Federal SEOG Grant</p>
<p>(ive aprroximated the numbers but you get the gist of what is going on)</p>
<p>Anyway so i was just wondering if there really is a differnce in the packages even though the aggreagate amount is the same</p>
<p>Is it better to be on university grants then federal grants?</p>
<p>Can i transfer fedreal grants from one university to another?</p>
<p>Does the composition have a likely effect on aid for the other three years at university (ie will there be a difference in the packages i get in subsequent years)?</p>
<p>Sorry if ive asked a lot of questions and thanks for your time</p>
<p>There is no real difference as far as you are concerned - I am surprised Uni A did not include at least the Pell grant (unless they are a school that does not accept federal funding - there are 1 or 2 like that I believe).</p>
<p>You can't transfer federal grants as such. But if you are eligible for the Pell grant you are eligible for the same amount of Pell wherever you go (maximum this year = $4731). </p>
<p>The SEOG however is a limited funds grant - meaning each college is given a certain amount of funds to award and once it is awarded .they have no more. I thought the Federal maximum for SEOG was $4000 (maybe that is an old number) but each school actually sets their own maximum SEOG (probably to try and maximize how many people they award some money to). My daughter's school for instance sets a maximum of $2000 for SEOG. Schools can set their own criteria for awarding SEOG - often (not always) it is students with zero EFC. But it is not guaranteed like Pell - and as it is limited funds schools usually give it to eligible students who have filed for aid earliest.</p>
<p>You must file for financial aid every year so if your financial situation changes your EFC may change and your financial aid may change accordingly. Pell is always based on your EFC and the amount awarded is based on a strict table. If your EFC goes up your Pell will go down. It is graduated - getting smaller until your EFC is @ 4042 when you are no longer eligible for Pell. </p>
<p>SEOG - I think at many schools you lose eligibility if your EFC is above 0. But there are less defined rules so I may be wrong.</p>