<p>Greetings,</p>
<p>We just received my daughter's FA award letter from Kennesaw State University. </p>
<p>Cost of Attendance:
Books & Supplies $1,500
Fees only 1,416
Loan Fees 63
Personal Expenses 1,739
Room & Board 10,946
Transportation 2,421
Tuition only (tentative) 4,396
TOTAL $22,481</p>
<p>Financial Aid Awards:
Fed Direct Sub Stafford $3,500
Fed Direct Unsub Stafford 2,000
Fed Pell Grant 700
HOPE Books 300
HOPE Scholarship 4,962
TOTAL $11,462</p>
<p>The transportation and personal expenses can be reduced and/or omitted. Also, her room & board for the year totals $6,400 and not the $10,946 they are showing. I read that if I am denied the Plus Loan (and I'm 99.9% sure I will be) then she's eligible for an additional $4000 in loans.
Based on that, does this package seem ok?</p>
<p>How on earth are you going to reduce substantially or omit the personal expenses for your daughter ? Also how are you getting the room AND board for $6400 rather than $10946?<br>
she has to get to the school, she has to eat, and she needs soap, shampoo, personal items. It’s one thing to actually THINK you can cut down on those amounts, but many times the parent or child is overly optimistic. Unless you have a fairy godmother living within walking distance from the school that is opening her home to her, even though you may be able to cut some of those expenses, be aware that they do exist. That first year, those costs tend to be pretty true or even optimistically on the frugal side. </p>
<p>Be aware that the school id not giving your daughter a dime. All of those awards are from the state and federal coffers. So it is likely that another state school would give her that same amount even if she could reduce her costs to down to the amounts given. In other words, if she can find a school where the COA is $11,462, she would not have to come up with anymore money. That may mean living at home and commuting.</p>
<p>It was my understanding that personal expenses & travel expenses were ESTIMATES. That being said, if we have a set budget we are working within, my daughter will need to work within that budget. </p>
<p>As for the travel expenses, she will be living on campus which is approximately 2 hours from home. </p>
<p>Room & board…again an ESTIMATE by the school. Her actual room & board for the year comes to $6400. I have the rent agreement in front of me. </p>
<p>Anything further?</p>
<p>Well, your D can work part-time during the school year and/or during the summer to earn money for personal expenses. It’s virtually impossible for student to go a school year without $1000 - 2000 in personal expenses. </p>
<p>My kids’ school is 2-3 hours away from home. There are still some travel expenses…not a lot, but probably a few hundred a year.</p>
<p>When you mention a rental agreement…does that mean that she’ll be living in an off-campus apartment? </p>
<p>Does that $6400 cover just her rent/utilities or does it also cover her food/meal plan at school?</p>
<p>Wasn’t she offered any work-study? Can you ask about that???</p>
<p>Financial Aid Awards:
Fed Direct Sub Stafford $3,500
Fed Direct Unsub Stafford 2,000
Fed Pell Grant 700
HOPE Books 300
HOPE Scholarship 4,962
TOTAL $11,462 Plus 4,000 from Plus denial (15,462)</p>
<p>Cost of Attendance:
Books & Supplies $1,500
Fees only 1,416
Loan Fees 63
Room & Board 6,400
Tuition only (tentative) 4,396</p>
<p>Adjusted total…13,775</p>
<p>I also question does your 6k included meal plan? Also work-study may also be helpful. Though if everything correct then it seems like the school will be affordable and within your budget.</p>
<p>I know that a benefit of the Southern schools is that room and board is lower than what we see in the NE, but unless you have gotten an off campus share for her, that looks awfully low. The minimum required freshman mealplan at most GA state schools run about $2000 per year, from what I have seen and that only covers about 125 meals per semester, which means she will need money to eat outside of the dining hall. That means her lease for the room is about $4400 for the year. If you can get that, great. My son got a room for allegedly $600 for the year, but after paying all of the “other” expenses needed in that house share, it came to quite a bit more (utilities such as gas, elec, hi speed internet, cable, water, common use furniture and housewares, personal use furniture and wares). </p>
<p>But taking your figures as a given, I agree withMom2college kids, that this is a doable package with your child working over the summer and taking a job for some expenses. Depending on her courses, the books and supplies can be more or even less. My son reduced his book expenses substantially getting used books from kids who just took the course and borrowing from the library, and using the internet for discounted books. </p>
<p>Just to let you know, many parents have been surprised to qualify for PLUS. The approval is a lot less stringent than typical loans or credit apps. </p>
<p>Congratulations to your D and you in getting a package that is workable and still includes “sleep away” college.</p>
<p>Thanks for the responses. She will be living on campus but the KSU campus housing is privately owned and managed. The $6,400 is the total for monthly rent ($535/mo) and includes all utilities but does not include her meal plan which is approximately $1,700. I forgot to include that in my initial post.</p>
<p>She is working a part-time job this summer and will be required to save a good portion of those earnings for books/personal expenses, etc. I have also setup an automatic withdrawal from my bank account to hers on a monthly basis for personal expenses.</p>
<p>She signed up for work study and we’re waiting to hear the results of that.</p>
<p>Again, that’s for all of your responses. I really appreciate it.</p>
<p>Cost of Attendance:
Books & Supplies $1,500
Fees only 1,416
Loan Fees 63
Room 6,400
Meal Plan 1,700</p>
<h2>Tuition only (tentative) 4,396</h2>
<p>So, her new total is about $15,475 (without personal expenses or travel costs)</p>
<p>Books/supplies look grossly inflated to me…my kids recycle the same $500 or so for each semester by buying used and reselling, except for lab books/kits…but I’d plan for a bit more to be safe. It sounds as if your D may also be awarded a $750 Academic Competitiveness Grant after KSU verifies her high school transcript - check the ACG requirements for GA grads. The combination of those two adjustments, and a summer/work study job, should give you some breathing room.</p>
<p>Thanks for that information sk8rmom. I checked the requirements for the ACG & it looks like my daughter is eligible! </p>
<p>I have yet another question. When should I apply for the PLUS loan? Should I go ahead & do this now or wait?</p>
<p>I would think you should apply soon so you know what the situation is.</p>
<p>^^Check with the FA office as to when you should apply for Parent Plus loan, New fed regulations have changed about the lenders and the school may be involved in direct lending from the government and you may need to go thru them.</p>
<p>I agree that books and supplies are high IF she already has a computer or decides to go without one or gets a recycled one. Otherwise, it is about right unless she has non mainstream major. The meal plan is not going to cover all of her meals, but being a female, she may not eat that much. My boys pretty much needed their 3 squares and some as they were all very active physically, two of them athletes and one taking a lot of dance courses and working out regularly at the gym. </p>
<p>Still she is going to have personal expense needs, transportation costs. She’s got to get there and back at least a few times during the year, and if she’s taking stuff, she can’t just get a ride with someone else going there. Also mom is probabably going to want to go there as well. A lot of these schools have summer orientation, don’t know if this one does, but that is another trip there. But the girl is going to need soap, shampoo, toothpaste, etc. </p>
<p>But you know, she can scrimp and stay on a strict budget. I did and so did many I know. According to my son, as a sophomore, most kids scrimp towards the end of the term when the parent’s bank account is closed and the money in the student account is gone, the meal plan is dry. He was telling me how many of them “beg” for food off of those more fortunate. Not unusual at all.</p>
<p>She can also work during the school year. My son did after first semester and made about $100 a week which more than paid for his personal expenses. supplies, books for that term. Half that amount could suffice.</p>
<p>Student are not supposed to living high off the hog anyways. </p>
<p>I think you are doing a great job planning this out. Again, congratulations.</p>
<p>If you’re going to need to find other sources (in excess of the $4K addt’l Stafford she’ll receive if you’re not approved) it’s better not to wair. Not sure when schools start processing loans for next year. If the $4K Stafford will be enough, you can probably wait til early July…direct loans are usually quick and simple and the school will be notified of the denial if it comes. Then your D should immediately request the additional $4K, or whatever portion of it she needs.</p>
<p>Btw, my D is also at a large instate public and we managed very nicely on a similar scaled-down budget. Her U offers tons of free student activities and outings such as plays, concerts, movies, sporting events, museums, speakers, awesome pool/gym, etc…her biggest recreational expenses were skating fees at the private arena and shopping with friends. We live about 3 hours away and she came home about once a month…there are 3 from our area that usually travelled together (the only time they saw each other) so I gave $30/trip in gas money to whoever had a car at school and was coming home anyway. </p>
<p>D eats 3x a day like it’s her religion but had early AM classes and ate breakfast in her room - cereal bars, fruit she’d snagged or bought, juice, etc. - think she spend about $40 a month on groceries but I also bought extra during sales and sent her back with treats, soap, shampoo, etc. and brought her many cases of water on my trips (no one liked schlepping those on the market bus!). The uni has a market/mall shuttle 2-3 times a week and, although no microwaves were allowed, full kitchens on each floor in the dorms. Her meal plan was only 8 meals a week plus $450/semester that she could spend at most of the eateries on campus (big school=lots of choices). First semester I added $80 but on move-out day in April she was swiping that card at the vending machines to use up her balance…we were well supplied with drinks for the ride home! Her main complaint was that so many of her friends had the 21 meal a week plan that, although they came to detest dining hall food, they felt they had to eat it so as not to waste their parents money! She was happier with the flexibility and saved about $500/year over the full meal plan price. YMMV</p>
<p>Also, you do save some money when they leave home. My electric bill is noticeably lower, there is actually gas left in my car when I get in it, and my grocery bill, particularly for milk and OJ is much lower. Less laundry, less shampoo and stuff used, and of course, we end up treating them now and again, so they do cost money at home.</p>