<p>You know how they show 23k expenditure on the epal fin aid package and then ways to pay it. so far it says that i will get 10k aid from LA, 1600 EFC, and about 5k from Federal grants. So the left amount is about 6.5k which it suggests that i should take out loans for. But it assumes that my residential expenditure would be 12.5K but residence hall only cost about 9.5k so that decreases my expected expenses by 3k, does that mean i can take out 3k less in loans, or are they just gonna decrease the University aid by 3k so it evens out????????????????</p>
<p>I am thinking the university aid stays he same otherwise nobody would want residential halls and always pick the costliest housing. But i am not sure so please let me know.
Thanks</p>
<p>That's the max amount of loans you can get from each program. You can loan any amount between $0 and the max.</p>
<p>i get that but my question is that if the expenses are less then what they have calculated them to be, then do they decrease the amount of the aid they give me.
or does the aid stuff stay the same and less expenses only means less loans???????????</p>
<p>Let me ask you this question.</p>
<p>Is it feasible to assess everyone's "personal" and "transportation" expenses?</p>
<p>When you applied for aid via FAFSA, you selected on-campus. UCLA estimates the full cost of attendance-- including tuition, room, board, books, transportation, personal, and health insurance, for on-campus students. Other than tuition, these are all just estimates-- each student's actual cost of attendance will vary.</p>
<p>For room and board, they are estimating $12,414 for on-campus this year, up from $11,928 last year. This is an average figure-- actual room and board (room and meal plan) costs range from $8,899 for a triple dorm room with the smallest meal plan, to $14,324 for a single room in a residence plaza suite with the 19 Premier meal plan. $12,414 is the average they use for financial aid planning, and in order to make a financial aid offer. You might spend less, or more. Your choice. If you spend less on a triple, you might have a little more walking around money. If you get into a suite, you'll have to come up with some more cash from somewhere.</p>
<p>They won't decrease the aid if you're living on campus, regardless of which housing and meal plan you opt for. They WILL adjust the aid if you opt to live off campus (estimate room and board cost is almost $3k less). They also have an estimate of the cost to live in a frat, which is even less.</p>
<p>Thanks for the details. :-)</p>
<p>I'm just trying to say that they can't possibly account for every one's circumstances and therefore will not take up resources to adjust finaid for relatively minor deviations. The only way to take things into accounts are estimates.</p>
<p>And from time to time, you may hear how some people bought something for fun with their finaid money. (You're not suppose to do that, however.)</p>
<p>On UCLA's myFAO, it says they requested an "Estimated Tax Information on FAFSA" that I have to submit to them... how do I submit it? Do I mail it to them?</p>
<p>PX and rose:</p>
<p>When you completed the FAFSA, you checked the box that says your parents "will file" their '05 taxes. That flags your FAFSA (and your EFC) as an estimate. So they've given you an estimated financial aid package, pending the actual '05 income numbers.</p>
<p>Unless they've specifically asked for you to send the tax returns to the financial aid office, all you need to do is go to the FAFSA online, and correct the FAFSA. Put in the numbers that match your parents' tax return for '05, make any other changes to assets, and check the box that says your parents 'have filed' their taxes. That will let the FAO folks know that the numbers are actual numbers, not estimates.</p>
<p>This will result in a change to your EFC, and probably an equivalent change to your total aid package.</p>
<p>so pretend the residential expenditure is like 12k and i want a doubles resid hall with 14P meal plan which is like 10.5k. so the 1.5k extra will be added to other things such as transportation and books and stuff?</p>
<p>also another question about financial aid. pretend they give me like 20k aid, how is it all distributed? like when i pay for housing or something, will they know i am using the money financial aid is giving me to pay or if i pay for books, how will i be able to pay for books using my financial aid money? as for extra money, what do i do with it??? do i subtract is from my LOANS so i have to pay less in loans back?</p>
<p>The money can literally go anywhere you want but it is suppose to be used for university related expenses.</p>
<p>It is distributed evenly each quarter.</p>
<p>Basically this is how it works: You have an account (BAR) on URSA (online registrar). Tuition and other fees (except housing) is billed there. Financial aid is also added to that account (grants and loans). If the balance is positive, then you need to pay with check or credit card. If it is negative (credit), then they refund the money via direct deposit into your bank account.</p>
<p>For other related expenses, they won't know where the money is from. You just pay with credit card or whatever by using the money from the bank as if it is your personal money.</p>
<p>Extra money? Keep it if it's subsidized and just loan less the following year since you have to do most of the paperwork/online forms again. I think that's the easiest way... Otherwise, you can always contact FAO and they'll guide you through the process.</p>
<p>thanks.
so that means i wouldn't end up with 26K loan upon graduation if i can keep my expense under 17.5 k, so that i don't have to take out any loans. yay</p>
<p>Right-- if you're able to keep your expenses under the schools estimates, you can opt not to take a portion of the loans they're offering.</p>
<p>Don't forget that you've also probably got an EFC to deal with.</p>
<p>yeah, that will be taken care of.</p>
<p>My parents work too hard so i don't want them to have to worry about the tuition too much and have to pay a penny more than the EFC.
The rest i am gonna take care of, myself i think, or hopefully i can.</p>
<p>how could you keep your expenses under what ucla predicts is your overall expenses? is that like not buying the most expensive meal plans, or choosing a triple residence hall rather than a suite, or other stuff like that?</p>
<p>yeah that wat i have learned so far, cuz you can triple up in residence halls for around 9.5k with a good 14 premium meal plan. the housing is even cheaper for frat/sororities. like 6-7k, but i don't know what they are. UCLA predicts housing at 12.5k so these cheaper options provide a humongous margin. </p>
<p>but then again i am an entering freshman so this is how i think it works, but don't know for sure</p>
<p>Yeah, you just cut your expenses for housing and food, books (used from interent sites or borrowing), entertainment, and other misc. personal and transportation expenses that they estimate.</p>
<p>ok the whole thing is different now, i just got the Gates Millenia Scholarship and my life has changed. lol</p>
<p>well now the scholarship will pay whatever is left on my account after the EFC, and other university and federal grants,. So i don't even need to work study any more, or take out any loans for that matter. If i choose to work i get to keep the money. yay!!!!!!!!!!!</p>
<p>So now that money won't be an issue, what kind of choices would be good. i mean what kind of housing and meal plans and all that.</p>
<p>Maybe, maybe not.</p>
<p>The FAO might reduce your other grant aid by the amount of the Gates scholarship. Check with them before you celebrate.</p>