<p>I got my FA Package, and it's very good (grants and alumni/university awards)! But I was wondering what exactly a work study is. It is offering me 2200$ a year for work study, would I have to work to pay that off or what? And if I do decide to do work study, do I get any money on my own or do I only work to pay off that loan?</p>
<p>Work study is not a loan.</p>
<p>Work-study is a federal program that provides some money towards a job for the student to work.</p>
<p>So, you’ve been given an award for $2200 that can be earned thru a work-study job. </p>
<p>You don’t get all the money at one time. You get it incrementally in periodic paychecks as you work the job. </p>
<p>There is no guarantee that a job will be available. You’ll have to actively pursue that with your school.</p>
<p>Well I got my package from the school, so they gave me need-based grants and scholarships (got about 38k a year) and the rest was loans/work study</p>
<p>sounds good.</p>
<p>So, do you have all your costs covered?</p>
<p>I am remember correctly you will be attending GWU, which cost about 56k? That’s about 18k short, but I do not know your efc etc… Work study is not a loan, work study is issued by being employed under work study.</p>
<p>Good point. Is your EFC $18k?</p>
<p>From her thread a few weeks back, their EFC is around $9300. The $38K grants/scholarships and the $5500 Stafford will cover most of your costs as long as your folks are covering your EFC and you can work to save up a few thousand each summer. Workstudy is not something you can really count on as many freshmen find they either can’t find a workstudy job or can’t work many hours and keep their grades up. Make sure you don’t work too much during school and risk losing your scholarship!</p>
<p>I applied for the NROTC scholarship not too long ago (I should be starting on the next board meeting I think cause I just applied a couple weeks ago), if I get that then my whole college will be completely paid–and get paid monthly for it too. I realllly hope I get it, but who knows.</p>
<p>Do you have to let your ED school know what you’ve decided soon?</p>
<p>Since you won’t know about ROTC for a bit, are you OK if you don’t get ROTC? Do you have the $18k covered? Do you know how much your parents will pay?</p>
<p>Well it’s 9k I’d have to cover (if I take the loans from fafsa I can get) and yeah.</p>
<p>^^^</p>
<p>Can you clarify? Does your FA package already have fed loans in it?</p>
<p>*and the rest was loans/work study *</p>
<p>How much was this loan?</p>
<p>The fed loans were about 5k altogether then work study was 3k? Maybe?</p>
<p>So, you still have around a $13K gap after you take the $5500 Stafford loan. That gap includes a few thousand for personal expenses and transportation - you can probably pay your own personal expenses if you work this summer and/or find a workstudy job. Are you folks okay with covering the other $10K?</p>