<p>So Penn estimates $57000 ish for a year at their school. I got a very pleasant aid package from them, but I have a big question. They add estimates for books and personal supplies, do you pay Pnn for that? Like, do they then give you back that money later? Or when you pay, do you only pay for the tuition, room and board and fees and meals? I am confused how they do it. Like, my EFC may not be what I am paying to Penn because some of it is books and personal supplies, right? Please elaborate...</p>
<p>They add in all possible costs for that 57k. It takes in account like u said books and personal expenses stuff that u end up paying. So in reality college costs 57k but u don’t pay 57k bc ur personal expenses may vary and book costs may change. </p>
<p>Easy way to look at it
57000 with everything
Lets say 52000 without expenses and books
You pay 52000 and the other 5000 comes naturally.</p>
<p>so when I send in money to Penn, to pay for college, am I only paying for that $52k? If Penn gives me 52k, do I have to pay anything. this is all hypothetical btw.</p>
<p>There is a certain amount in Penn’s estimated budget that is “personal expenses”. If you take that out, you get what $ amount you will likely have to pay no matter what (tuition, books, fees, meal plan, residence). Books/food/residence prices fluctuate but their estimation is probably average.</p>
<p>as for your hypothetical… financial aid isnt solely grant money (most of the time). There is usually a work-study included, loans, etc included in financial aid. unless you got 52 k in grant money, you are paying for something eventually.</p>