<p>This is probably a dumb question but I don't have experience with it. I'm helping someone with FA for CSU. </p>
<p>Here is the package...
Federal Pell Grant Grant 4,310.00
Federal Academic Comp Grant Grant 750.00
State University Grant Grant 3,600.00
Cal Grant B Subsistence Grant 1,551.00
Direct Subsidized Loan 1 Loan 3,500.00
Aid Year Totals 13,711.00 </p>
<p>They show total costs at: </p>
<p>Books 693.00
Fees 1,845.00
Housing 4,511.00
Loan Origination Fees 44.00
Personal Expenses 877.00
Transportation 450.00
Term Total 8,420.00
Total Cost of Attendance 16,840.00 </p>
<p>Show they are showing a gap of $3129.
But the gap is really for books, personal expenses and transportation. So here is my question: if all the monies in the aid go into her college account, how does she get money out for books, personal expenses, etc?</p>
<p>This is a good aid package. All but $3K of expense is covered-- that's a sweet deal (not clear if the $3K is the EFC or if they gapped, but regardless, a good deal).</p>
<p>They work on semesters, apparently, so the expense figures are semester figures and estimates. What will happen is that each semester, $6855 (half the total aid) will flow from the grants/loans/scholarships into the student's account, and the mandatory fees (1855 + $4511 + 44 = $6410) will be deducted by the school to cover tuition and room & board (this assumes on campus dorm- if student is living off-campus, then only the tuition and fees will be deducted). That leaves about 400+ for the student to spend as they see fit-- probably for books and some personal expenses.</p>
<p>The books/personal expenses are estimates, you can save some money there if you're frugal. Similarly, if you find off-campus housing that's inexpensive, you can come in under their aid estimates, and save some money there. With a little planning, you can probably eliminate most of the $3K "gap" entirely.</p>
<p>Also, if the aid is greater than the direct school charges for tuition, fees, room and board, there will be "change" left over for which you can actually get a check. You then spend it out of your pocket as you see fit, for books or lottery tickets or whatever.</p>
<p>okay thanks dt123 that was my question, once they take the mandatory fees out (she is going to be on campus) the other funds will come back to her in a check?<br>
Sorry to be so dense.... sblake, thanks. That is exactly what I was telling the student. She can get a summer job to cover the "gap" of 3129 which really may not be that big because books might not cost $623 per semester and she doesn't need transportation money, etc.</p>
<p>that is a pretty sweet deal
I was gonna say most students that I know of use their pre frshman year summer job money for personal expenses and books until they save up enough money from their work study job
it pretty rare for someone to have so much of thier expenses met, without requiring more self help funds- but I would still say that a work study job is a good way to cover personal expenses</p>