Could you help me understand how the FAFSA works?

Paying for College
1

<p>So, I just got an email from my top-choice college. They said that they're interested in me, but they do not have any remaining scholarships.
Now, I want understand what I can do. Money is a problem, but going to this college, would really be an invaluable experience. Even though I do not get any scholarships, would FAFSA give me enough loans to cover my tuition (that I'll have to pay back later)? I don't mind paying back the tuition later, but I am not in a position to pay now. Would the Federal Government be able to help me?</p>

2

<p>FAFSA does not give you loan. You submit data to FAFSA to determine your EFC and eligibility to federal (and State) grant and loans. If the school meet the need, they may supplement it with additional aid. Most oos public college do not meet need. Your post does not make much sense as most schools would have FAFSA deadline much earlier and it has already passed the decision deadline. If you were on the wait list, you are not likely to get merit aid. If you do have need, you should have submitted FAFSA long ago. Your post just does not make any sense.</p>

3

<p>Are you a citizen or LPR of US? If yes, see <a href=“https://studentaid.ed.gov/”>https://studentaid.ed.gov/&lt;/a&gt;. Depending on your family’s financial situation, you may be awarded grants and/or loans from Federal government.</p>

4

<p>A dependent student is only entitled to borrow $5500 for freshman year. If that’s not enough, FAFSA probably won’t help you. If your family’s income is very low, you may also be entitled to up to $5645 in Pell grant money. Beyond that, if the school does not have any money to help you, you are going to be out of luck.</p>

5

<p><<<
would FAFSA give me enough loans to cover my tuition (that I’ll have to pay back later)? I don’t mind paying back the tuition later, but I am not in a position to pay now.
<<<</p>

<p>thankfully…NO. You cannot borrow much. Right now you say that you wont mind paying the money back, but you just want to go to that school. In the end, you would find paying back that much debt unbearable and you would regret it.</p>

6

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Does the school send you the financial aid award letter yet?</p>