I’m going to a college that’s going to cost about $26K per year. I submitted the FAFSA and the only thing that came out of it was $5,500 in loans that I could take out. -_- We’re a middle-class family, both my parents only make around $60-70K per year. Why didn’t a get a grant??? (I did get a scholarship though).
Your family income is too high to receive a Pell grant most likely.
It sounds like your school has limited funds for grants from the school.
In addition, it’s possible that your scholarship actually reduced your need. How much was your scholarship?
Are you just getting your financial aid award now? Are you a transfer student?
No I got it months ago I’m just wondering,
Well…your scholarship likely was viewed as reducing your overall need. And your school clearly does not meet full need for all students.
Fafsa did not calculate your financial aid. The college did.
And some colleges simply don’t have enough aid funds to be generous. Or they can fund only a category of students.
We don’t know what college this is, so can’t offer our knowledge of their policies.
FAFSA is just a form that determines whether you qualify for federal grants and subsidized loans. Grants are only for the very low income and with that income, you might get a super tiny pell grant but in your case, you didn’t. Which means your EFC was too high.
That’s it. That’s all FAFSA “does.” It spits out an EFC. Beyond federal (and state if applicable) aid, everything is up to your school.
I think students are under the misperception that all you have to do is fill out the FAFSA forms and you automatically will have all of your fees paid for your college.
The truth is that the schools are out of money and have to reserve their monies.
There are no full rides anymore and colleges are very expensive, as you have discovered.
You won’t be registered for classes if you don’t pay the full fees. How will you pay?
<<<
No I got it months ago I’m just wondering,
<<<
ok…you’ve known for many months that you werent getting much aid, so how do you plan on paying for this college?
FAFSA is just an app for federal aid. there isn’t much federal aid for anyone. there are only small fed grants for low income students.
most schools do not have grants to give away.
how much will your family pay each year?