FA was awarded unevenly... question.

Paying for College
1

<p>Hello, </p>

<p>The FA Office at my school did something funky with my FA. This is my aid broken down by each semester: </p>

<p>Donor Award........................$2,500.00 $2,500.00<br>
College Work Study...............$1,500.00 $1,500.00<br>
Direct Subsidized Ln...............$2,622.00 $122.00<br>
Pell Grant.............................$2,775.00 $2,775.00<br>
Perkins Loan...........................$325.00 $325.00<br>
Student Aid Grant.................$2,525.00 $2,525.00<br>
Supp Ed Opp Grant...................$150.00 $150.00<br>
TOTAL..............................$12,397.00 $9,897.00 </p>

<p>TOTAL Estimated COA: $22,294.00 </p>

<p>This semester, I was fine on costs. The aid completely covered my costs. However, next semester I will owe about $10,842.25. Therefore, my aid won't cover it. My question is: would I be able to increase my Stafford loan for second semester to cover my additional costs? Or no because I would be over the "estimated COA" (which is, in fact, about $2-3k less than my actual COA)? </p>

<p>Also- anyone know why they would do this funky thing with my aid where they don't split it up evenly? It didn't happen last year. </p>

<p>One more question: I have a 0 EFC, but as of right now- I am the only one in my family working. My work study (as well as my two non-work study jobs) are the only ones paying the bills. I can't really afford to keep my work study to save up for next semester's costs. Is there any way that I might be able to ask for a special review to get my COA raised a bit so that I can get the full Stafford loan? My mom is undergoing a series of medical surgeries over the next few months which are leaving her unable to work, which is why I am the only working one. This is a long-standing medical issue, so it is very well documented. </p>

<p>My school is extremely generous with financial aid, and I am extremely grateful for everything that they have given me. I don't want it to seem like I'm being a pain for asking for a little over the COA in loans. I also completely understand if it is not possible because of federal law restrictions. If I need to, I will make it work. We always manage to find a way. I am at 17 credits next semester, and if it is needed, I will simply drop down to 12-13 and then take an extra semester of school (probably next summer). I would prefer not to have to do that, because I have an internship lined up at the DIA next summer and can't do both an internship in Detroit and a semester in Lansing lol.</p>

<p>Thanks all :).</p>

2

<p>Ask your school about whether it is possible to increase the COA. At my daughter’s school the COA is based on a certain number of hours a semester, I think it is 14 hours. If a student takes 15 hours or more they can ask to have their COA increased to reflect this. Your school may allow the same. Only they can tell you. Ask them.</p>

<p>My daughter actually has a similar situation this year with aid being distributed unevenly. She used part of her senior SMART grant in the summer so he SMART for the regular school year was reduced to $3000. They have disbursed $2k this semester and the remaining $1k is scheduled to disburse next semester. I was surprised by this but I think it is something to do with the weirdness of that specific (though much appreciated) grant. Luckily it does not leave her short next semester.</p>

3

<p>All right, sounds good. I will go to the FA office sometime this week and ask if it is possible.</p>

<p>I think, if I’m doing the math right, the COA is based on 15 credits.</p>

4

<p>Your college awarded you enough aid to cover your full COA – at least from the numbers you posted – aid dollars = COA. It looks like that college front-loaded your loan - perhaps because of some costs that are assessed by the school only in the first semester, or to ensure that you had the money in hand, with the idea that you would be able to make up the difference in work study later on.</p>

<p>It sounds like your problem is that you need to earn money to help your family – so it’s not that college is too expensive, it is that you are spending your earnings on more than just your own personal needs. Your needs are real, and you should be commended for your efforts and hard work … but they are beyond the needs of typical college student, so not accounted for in your financial aid award. </p>

<p>You can’t have your COA increased in order to meet non-college expenses, such your mom’s medical expenses, which aren’t really a factor in COA. But it IS possible that the COA could be increased to cover some other expenses that weren’t considered – such as additional housing or transportation expenses that aren’t being counted, or purchase of a computer – so talk to the financial aid people about your situation.</p>

<p>The other thing I see is that you are at the start of fall semester, already worried about spring – but you haven’t even begun school yet. You say that you have two non-work study jobs – how much do they pay compared to work study, and would you be able to get more hours there if you wanted? If the non-work-study jobs are more lucrative, you might ask to have some of your work-study money reduced and convert that amount to loans – and then just plan to work the same hours in the other jobs. In other words… you may simply need to reallocate the way you are earning money – but if you do this, I would suggest waiting until the end of first semester to see whether you are able to work your full work study grant as it is.</p>

5

<p>I have already started my fall semester. I am a week into it. I worry about spring because I have always been a planner. </p>

<p>The work-study job is where I make the most. </p>

<p>The other jobs are hit or miss. I will make probably $350 this semester at one of those jobs, and I haven’t a clue about the other one- it’s a photography job and therefore I only make money when I have shoots. </p>

<p>I live near Detroit. I am grateful to have jobs at all. I have applied other places, but nothing yet. </p>

<p>As I said- I will make due if I have to. I am not expecting the college to do anything, I simply asked if it was possible. It is not just my mom’s medical issues- I, too, have chronic illnesses that cost hundreds each month.</p>

6

<p>Oh, and also, there weren’t extra expenses first semester. All costs are equal first and second.</p>

<p>It got messed up when I got my $5k scholarship. The aid had been even up until they put that in.</p>

7

<p>I understand – you have expenses that are a drain on resources – but you can only expect the college financial aid system to help you out with meeting the college-related costs. In a sense you might be a person with a negative EFC… that is, your life situation means that your EFC should be even less than 0 – but of course the system doesn’t allow that.</p>

<p>One thing I don’t know is whether you might be eligible for an unsubsidized stafford, on top of your other loans – since my understanding is that those are not need-based. That is, even people whose EFC is higher than their COA can take out the unsub loans… so I don’t see why you couldn’t. But definitely wait until spring semester to do this – since interest runs right away on an unsubsidized loan, you don’t want to take a disbursement until absolutely necessary. </p>

<p>It’s GREAT that you are a planner and thinking about next spring’s expenses now – but I think at this point you should be asking the financial aid department about options, but don’t make any decisions that could cost you money in the long run (i.e., more loans) until absolutely necessary. You never know – maybe the photographer you work with will have a run of good luck and get very busy over the holiday season, and you’ll have more money in hand than anticipated when you start your spring semester. So follow the philosophy, “hope for the best, but plan for the worst” – and look at extra self-help aid (loans) as being a fall-back position if things don’t work out.</p>

8

<p>I must be reading something wrong in your opening post: You say your COA is $22,294 and your aid adds up to $22,294, which means that your aid COMPLETELY covers your costs. So why do you say that next semester you will owe $10,842.25? “COA” is a term that includes tuition, room, board, books and expenses for the year - do you have school-related expenses in excess of the amount given? What will the additional $10,842.25 be for?</p>

<p>If your COA = $22,294, and the charges are evenly split between the semesters, then it is $11,147 per semester. You have $12,397 for the first semester. Put the extra $1,250 in the bank and add it to the $9,897 you are getting next semester - that will add up to $11,237 - $90 more than you need for the second semester. Where does the $10,842.25 come in?</p>

<p>If you have excess aid this semster, just put it in the bank until next semester and you won’t “owe” anything - you can just pay it. You don’t need the school to “even it out” for you - you can do it yourself.</p>

<p>Or maybe I am missing something here? Are you saying you don’t want the aid evened out, that you want more total aid?</p>

9

<p>I think I’m not explaining myself clearly. I just need to see if I can get the COA increased to cover my ACTUAL COA rather than simply the estimated one. I am not trying to get it increased to cover the outside costs as well. If I cannot, then I am merely going to drop a class and everything will be all set.</p>

<p>Yes, it adds up to the estimated COA. </p>

<p>However, the estimated COA is not my ACTUAL COA. I am asking whether or not I can ask to increase the COA to cover my full COA, rather than the university’s estimated COA (which is a few grand under my actual COA).</p>

10

<p>Sorry, I misspoke earlier. That $10k+ is only for tuition and housing, etc. It doesn’t cover books as well, which our COA is supposed to cover as well. I am taking over the amount of credits that is allowed for in the estimated COA- which is about 14 or 15 credits. Therefore, my question is- does the Stafford loans/federal aid only allow you to borrow up to the estimated COA or the actual COA? If it is the former, do some colleges allow you to get an increased estimated COA that more accurately reflects your real COA rather than merely the estimated COA?</p>

<p>ETA: </p>

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<p>That is exactly my problem. My COA is NOT that amount. Only my estimated COA is. My real COA is probably just over $24k (doing quick math).</p>

11

<p>Many schools will increase the COA $1,000 to $2,000 upon request for a one-time purchase of a computer for school use. You might try making that request.</p>

<p>You also may still be eligible for the full Stafford even without the increased COA - they probably reduced the loan automatically when your scholarship arrived. If your EFC is low enough you still may be able to get the original Stafford, but you would have to request it. </p>

<p>In any case you should be eligible for a $2,000 unsubs Stafford - have you asked fin aid about that?</p>

12

<p>^ No I have not. I just found out about the unsub Stafford loans about 20 minutes ago when someone mentioned it. </p>

<p>The computer $1k was put into my freshmen year budget last year. That, indeed, was a one-time request.</p>

13

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<p>That’s what I’m doing with this thread :). </p>

<p>As I said, I will just take a few classes in the summer if need be. I was just wondering if there was a way to increase my COA slightly so that I wouldn’t have to do that. If it’s not, then it’s not. I’ll live :).</p>

14

<p>Contact Fin aid and ask if you can have the full subsidized Stafford even with your scholarship and if they say “no,” ask for the unsubs. You should have everything in order in plenty of time for Spring semester (because you are an excellent planner!).</p>

15

<p>^ Will do. </p>

<p>There was actually quite a mix-up last year with my aid and it constantly changed over the year (partially because the Michigan “Promise” <em>gag</em> scholarship was in limbo for months). Therefore, I have just learned to be vigilant about aid. </p>

<p>It also happened to me over the summer. The paper work for my study abroad aid got “lost” and the only reason that I ever found out was because I had to go ask the financial aid office about summer Pell Grants. Apparently the study abroad office had had a computer issue and some people’s financial aid applications never got sent to the financial aid office. They, of course, never bothered to tell people who were studying abroad. Who knows how many people didn’t get aid because of this?</p>

<p>Needless to say, I have sort of learned not to trust the FA process at my U. That’s why I turn here first. (Love my U, hate the “processes” lol)</p>

16

<p>You can’t get Stafford loans that take your total aid to over your COA. The school is not allowed to award FA in excess of COA. So you will need to get the COA increased in order to increase your Stafford loans. This should be possible if you talk to them.</p>

<p>Good for you for keeping on top of the FA situation. I must admit that is an area where I do keep track of things for my daughter (at her request) as I have a fairly good understanding of the different types of financial aid and what to expect her aid to consist of. FA people are human and occasionally make mistakes so keeping on top of it is a very good idea. I have found most FA officers to be very helpful. </p>

<p>So go ask. Good luck.</p>

17

<p>Thanks, swim (and everyone else). </p>

<p>Sometimes, I am convinced that FA is more difficult than college itself lol.</p>

18

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<p>Your SCHOOL sets the Cost of Attendance. It doesn’t matter whether YOUR actual costs are higher…it’s what the school allows as a COA that matters. Look at it this way…should one student be paid more than another because they choose a very high rent place to live? The answer is no.</p>

<p>Your “shortfall” by your calculations is about $1000 and that is for the second semester. As I see it, you have a number of options:</p>

<ol>
<li><p>Put the overage they are allowing you in the fall towards your second semester expenses.</p></li>
<li><p>Use $1000 of your summer earnings to cover the costs (I hope you worked this summer).</p></li>
<li><p>Get a job…and earn this $1000 during the first semester. Even at minimum wage, if you work 10 hours a week, you should have that amount by the time the money is due.</p></li>
</ol>

<p>I can’t imagine that the school is going to award you more money.</p>

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<p>Thank you. That is really what I needed to know.</p>

<p>As I said, I will make it work.</p>

20

<p>With that being said, colleges MAY make a COA adjustment if you show documented, “compelling” (in their eyes) circumstances . It’s not guaranteed by any means, but it may be worth a try. See if your school’s FA website makes any mention of this option and procedures for it.</p>