Do I have a free ride?

Paying for College
1

<p>On the FSU page this is coming up
FALL/SPRING AWARDS - 03/19/2007 </p>

<p>Enter the amount you wish to accept for each award. To decline the award, enter an amount of 0. To save the changes, click the Save button at the bottom of this block.</p>

<p>Award Name Fall
Offer Spring
Offer Total
Offer Accepted amount Total
Disbursed
FRESHMAN INCENTIVE SCHOLARSHIP 1000.00 1000.00 2000.00 Award is automatically accepted. 0.00 </p>

<p>FLORIDA BRIGHT FUTURES MEDALLION SCHOLARSHIP 1259.00 1259.00 2518.00 Award is automatically accepted. 0.00 </p>

<p>FEDERAL PELL GRANT 2155.00 2155.00 4310.00 Award is automatically accepted. 0.00 </p>

<p>FLORIDA STUDENT ASSISTANCE GRANT 836.00 836.00 1672.00 Award is automatically accepted. 0.00</p>

<p>FL STATE UNIV GRANT (UNDERGRADUATE) 850.00 850.00 1700.00 Award is automatically accepted. 0.00 </p>

<p>FEDERAL SUBSIDIZED STAFFORD LOAN 1750.00 1750.00 3500.00 0.00 </p>

<p>It all adds up to $15,700</p>

<p>Here is the actual cost:</p>

<p>Estimated Undergraduate Basic Costs 2006-2007</p>

<p>Florida Residents
Non-Florida Residents
Tuition/Fees $ 3,307
$ 16,439</p>

<p>On-Campus Housing 3,780
3,780</p>

<p>Food (Meal Plan) 3,298
3,298</p>

<p>Books/Supplies 1,000
1,000</p>

<hr>

<p>SUBTOTAL $ 11,385(my total)
$ 24,517</p>

<hr>

<p>Computer1 1,800
1,800</p>

<p>Health Insurance2 1,400
1,400</p>

<hr>

<p>TOTAL $ 14,585
$ 27,717</p>

<p>Estimated costs cover two semesters
(15 hours per semester)</p>

<p>This does mean I basically have a free ride correct? Also what happens to the money that isn't used? Do I get a check of the remains?</p>

2

<p>No, you don't have a free ride. Each award has one number just for the fall, then the second number is the amount doubled (i.e. for the whole year). Also, notice that it's not all grants - you have to pay loans back!</p>

3

<p>So it comes out to 12,200 without the loan, thats still more then my total cost(remember the total cost is two semesters).</p>

<p>So still not a free ride?</p>

4

<p>Unless I added incorrectly, you have $12,200 in grant money for the year. Plus a $3,500 loan that you repay after you graduate. I do not see any money left over. But this sounds like a great financial package to me. Congratulations!</p>

5

<p>I probably won't be accepting the loan the $12200 is more then enough to pay off 11,385. I already have medical insurance and my mom will be buying me a computer so theres no need to look at the second total. </p>

<p>Thank you though.</p>

6

<p>So am I set?</p>

7

<p>Okay, now I see why your numbers did not add to mine. If the yearly total for the room is $3780 and the yearly total for board is $3298, then yes you are set. That does bring the total to $11,385. Go, learn, enjoy.</p>

8

<p>Thank you.</p>