<p>Did anyone fill out the scholarship form yet?
It asks for the PC
As part of the calculation is the students contribution. Would you put the Stafford Loan or other scholarships into the student contribution? What if you expect your child to do a work-study program, would you estimate how much they would get for that as part of their contribution. While these won't reduce the EFC, I am asking to see whether these effect the parent contribution at all.</p>
<p>No.</p>
<p>Stafford loans would get put towards “need”. Work study would get put towards “need”. </p>
<p>Work study is a fed program and only can be used towards need. Schools have limited amounts of W-S to award and often reserve it for their Pell students. If you’re OOS, you may not get any either if the school reserves it for instate students. </p>
<p>The only way a Stafford loan can reduce your EFC is if you got enough “other aid” (grants, scholarships, work study) that it covered all of your need. At that point, you could use a 5500 unsub loan to put towards EFC.</p>
<p>If you’re OOS, then the situation could be worse since Purdue does NOT meet need. So, if you have $25k in “need”, then you may only get a $5500 student loan, maybe some merit money, and you’d be gapped for the rest and still have to pay your EFC.</p>
<p>Example:</p>
<p>COA = $40k
EFC = $15k
need = $25k</p>
<p>But, if the school only gives you a $5500 loan and a $10k merit scholarship (for high stats), then you’d only be given $15,500 to put towards “need”. So, you’d have to pay MORE than your EFC. You’d be expected to pay about $24,500. :(</p>