<p>gS, who never got the FAFSA in on time, did nevertheless receive some financial aid, we just found out. Pell $1600 and subsidized Stafford ca. $2500 (both listed as "pending" on his account).</p>
<p>H did not ask to see the FAFSA (gS and his parents filled it out <em>eventually</em>) but we are the ones picking up the bill over and above any financial aid.</p>
<p>So, the question: we don't know if this amount is what we might expect for future years (if family economics remain the same), or whether he would have gotten more had the FAFSA gone in on time (it didn't get there until early summer).</p>
<p>Is this something we should just wait and see, or can we ask the Fin. Aid office? We'd love to keep a low profile, but we are sending the first check for fall tuition imminently, so that will become part of his financial picture as well, I guess.</p>
<p>School is his in-state flagship, U of New Hampshire.
Thanks.</p>
<p>I'd probably write or call, but using his parents' name.</p>
<p>(For Stafford's, assuming no income change, standard is currently $2,650 for the first year, and $3,500 in the following three. It changes year by year.)</p>
<p>The subsidized stafford loans for freshmen caps out at $2625 and the amount of Pell money is given in relation to his EFC according to the federal guidelines. </p>
<p>If his school also had SEOG (supplemental educational opportunity grants) funds (almost equal to the amount he received as a pell grant) he probably missed out on getting that money because his information was late and there is a limited pot of money. The same would hold true for any grant or scholarship aid that the school itself would have given.</p>
<p>Did the school offer the parents a PLUS loan ( if approved, they can borrow up to the full amount needed)? If yes, are they going to take out one? because if they do, then you and DH could just pay off the PLUS loan and it will still appear like monies are coming from parent resources. If parent(s) are not eligible for a plus loan the gS would be eligible to borrow an additional $4000 as a unsubsidized stafford loan . If he has to go this route, you could offer to pay that off since the interest starts from the time the money is borrowed.</p>
<p>I hope this helps</p>
<p>During gS's sophmore year he will be eligible to borrow up to $3500 subsidized.</p>
<p>sybbie and mini - thanks. There is nothing about the PLUS loan on his on-line account, where we are getting the information. I'm trying to remember about the PLUS. We'll have to check with the parents, but I'm guessing they'll be clueless. Is there any other way to find out? If they weren't offered it, gS can ask for the unsubsidized Stafford through the Fin Aid office? And I'm gathering from your post that, if we pay it off, that contribution won't be considered income to him (or we wouldn't be paying anything but interest until he graduates)?</p>
<p>Thanks for the help to a person clueless in this realm. <em>apparently soon to start learning, though</em></p>
<p>
[quote]
Is there any other way to find out? If they weren't offered it, gS can ask for the unsubsidized Stafford through the Fin Aid office? And I'm gathering from your post that, if we pay it off, that contribution won't be considered income to him (or we wouldn't be paying anything but interest until he graduates)?
[/quote]
</p>
<p>Have your gS contact the school to ask them if parents are eligible to, and if they can they take out a PLUS loan. He will not be able to take out the unsubsidized loan unless parents have been turned down for the PLUS loan , so parents would have to apply for it first.</p>
<p>As far as the school is concerned the aid is coming from the parents in terms of the Plus loan or his own self help aid in terms of the stafford loans. when you pay it off you are paying the lender directly, so you would actually be helping gS build up a good credit rating by paying off his debt in a timely manner (early).</p>
<p>I forgot to ask, did he get work study in his aid package? If not, and he wants or needs to work then he needs to find out how to get an on-campus job.</p>
<p>Thanks again, sybbie. Will follow up on your info. Haven't heard re work/study and it's not in the on-line account info. DH would probably suggest he NOT work, at least this first year. He's going into Engineering, has been out of high school a year in min wage job, and should maybe focus totally on getting comfortable with the academics. Do you see any problem with that approach?</p>
<p>At the university's website it does indicate a financial aid priority deadline. Since he did not make the deadline this year, his aid might change for next year. Is he living at home or will he also be incurring a room and board fee? I think the website said tuition is about $3500 per semester so his pell and subsidized stafford will be taken off the total. If he is eligible for a pell and sub stafford then he might also be eligible for college work-study, in addition to a SEOG. The school's financial aid website also indicates that the univeristy gives grants of its own, besides federal grants. But again, there was an early deadline for these funds.</p>
<p>Hopefully next year the paperwork will be done before the priority deadline and he would be eligible and receive additional monies.</p>
<p>Good luck to your grandson, y'all must be proud of him!!!</p>
<p>Yes, kat. They did subtract the Pell and subs. Stafford from his bill. He will be on-campus, so the bill is a "bit" higher. Yes, let's hope next yera's paperwork gets done on time. Thanks for the good wishes.</p>