<p>So I received a VERY nice Financial Aid package from Emory. They are giving me $54,744 for Fall 2011 and Spring 2012 (one full semester). This 54,744 is out of the $55,992 they estimated is the total cost of attendance, however, they estimated books and supplies to cost $1,100 and transportation another $900. I won't be needing any transportation as I live in Atlanta and I decided to subtract the books too as I have a scholarship for my books. That makes my aid to be $54,744/$53,992 (taking away books and transportation), which makes my aid exceed more than I need. Will I receive money back? Also, do you think this aid would stay consistent for the next three years that I'm there? Because I don't want to go there and then next semester they change my financial aid and make me pay more money.</p>
<p>
</p>
<p>Your aid will be based on Emory’s estimated total cost of attendance…not yours. If they say the COA is $55,992, then your aid has NOT exceeded the cost of attendance. By the way…that COA is for one full YEAR, not one full SEMESTER. Any amount that exceeds the billable costs for Emory (tuition, room, board, fees) will likely be refunded to you at the end of the year if you that it come to you as a refund. Some schools will refund each semester.</p>
<p>If you have Work Study in your award, that is money you will earn as you go along.</p>
<p>You need to ask Emory about what they do for returning students. Ask them what will happen to your need based aid IF there is NO CHANGE to your family financial situation. You do need to know that if your family financial situation changes for the better, your need based aid might be reduced as you need to apply EACH year for need based awards.</p>
<p>It will probably remain consistent from year to year. Emory isn’t a school that likely to change the terms on you mid-way, but if you want some confirmation of that, just ask them.</p>
<p>I don’t know about getting any excess refunded to you. Is any of this award package in the form of loans? If so, probably what will happen is that your loans will just be reduced – unless for some reason you want to take out the full amount in loans. In that case, yes, you’d get the excess refunded. Also, if any part of your aid award is work study, that excess is just less you’d have to earn if you want to do it that way.</p>
<p>Oh, also the college requires that you inform them of any outside scholarships you receive, so the scholarship you got for books may reduce your overall aid by a bit.</p>
<p>Still, that’s a wonderful FA award. Congratulations.</p>
<p>They are giving me $54,744 for Fall 2011 and Spring 2012 (one full semester).</p>
<p>What do you mean by “one full semester”? Did you mean “one full year”???</p>
<p>Also, what is the breakdown of the money they are “giving you”? Is it all a scholarship or are there loans included in this?</p>
<p>Could we assume you received $3500.00 in Subsidized Loan and $2,000.00 in Unsubsidized Loans? A Pell Grant? A Grant from Emory itself and a Work Study Job?</p>
<p>Federal Work-Study - $2,500.00 (Fall 2011 & Spring 2012 Total)
Federal Pell Grant - $4,300.00 (Fall 2011 & Spring 2012 Total)
Georgia Hope Scholarship - $3,600.00 (Fall 2011 & Spring 2012 Total)
Georgia Tuition Gr (GTEG) - $750.00 (Fall 2011 & Spring 2012 Total)
Emory College Grant - $32,804.00 (Fall 2011 & Spring 2012 Total)
Federal SEOG College - $4,000.00 (Fall 2011 & Spring 2012 Total)
EA Loan Replacement Grant - UCOL - $6,790.00 (Fall 2011 & Spring 2012 Total)</p>
<p>Total Amount: $54,744.00</p>
<p>Cost of Attendance
Tuiton: $41,164.00
Books and Supplies: $1,100.00
Housing: $12,828.00
Transportation: $900.00</p>
<p>Total: $55,992.00</p>
<p>That’s all my awards and financial aid. How much do I have to pay out of my pocket when I enroll? Also will this award change in the next 3 years because I don’t want to attend the university and then the next year I don’t want to pay like 3-4,000 next year cause I can’t afford it.</p>
<p>Your billable costs for Emory are $53992 (total of tuition/room/board). Your aid (not including work study) is $52244. That means that without work study, you have a balance of $1748 for the year…divide that in half (half will be due in fall…I would think)…and you need to come up with $874 per semester…plus your spending money. This should be able to be covered by a summer job, and then your work study money.</p>
<p>Someone else should check my arithmetic!! I think this is correct.</p>
<p>The other thing you can do is contact Emory and ask THEM what your net bill will be (that is your bill AFTER all aid is applied) for the fall semester, and spring semester. They should be able to tell you. You can say that you need to plan for this.</p>
<p>You got a GREAT financial aid award. Good luck at Emory!!</p>
<p>wow, this is a very good package. You must pay to school the basic cost like tuition and housing. I think you can get a check from them from Pell Grant and SEOG if any money left. And I think it should be the same for the next years.</p>
<p>That’s a great award package. To the extent that you won’t need the $900 in the budget for transportation, I would suggest you think of that as $900 less in work study you’d have to earn. $2500 is not an unreasonable amount to earn, but it’s still a significant time commitment, and if it helped you to work fewer hours in order to have more time for academics, or just getting used to the social distractions of college life, then it might make sense to cut your work hours back a bit.</p>
<p>This isn’t anything you need to do anything about. You don’t need to tell them to reduce your work study award or anything like that. How much of that $2500 you actually end up earning is up to you. Many students do not end up making their full work study award, either because they need to limit their work hours, or that they can’t even get enough hours to make the full award. This is one of those things you can play with as you go along and find the right school/work/social life balance for yourself.</p>