<p>Hi, have any admitted students recieved their financial aid info yet? Been logging in to check on the SCU site but when I click on award letter nothing comes up.</p>
<p>i did, but i was accepted EA</p>
<p>same here. it comes out blank =/</p>
<p>I asked the financial aid office and they said that the financial aid packages should be up by April 2nd (or around sometime around there). They’re going to send us an e-mail when the financial aid stuff is online.</p>
<p>Financial Aid is now online for newly admitted SCU students according to the website.</p>
<p>Yes, I am an admitted student and my financial aid is up on E-Campus as of today.</p>
<p>I got my financial aid today, any idea what SCU Need-Based Grants mean?</p>
<p>A Need-based Grant is money you do not need to pay back.</p>
<p>It is based on your financial need rather than say strictly merit. This likely means if in the future your financial situation changes.</p>
<p>oh thank you for the clarification. So in the end, the TOTAL is what I got or what my parents have to pay?</p>
<p>You’d have to post something more specific here for clarification–cut n paste your award here (you can round numbers off, delete identifying info, etc) to get a clear answer. My daughter attends SCU so we have some familiarity with how the FA works there.</p>
<p>did anyone else notice that they didn’t give too much money this year? i pretty much got nothing and no scholarship. Also, what do they do with the grant money and work study and such for those students who decline to attend by may 1st? do they add more to those students who will attend? or just save it for the school?</p>
<p>okay, to clarify this is what I got (only the total): </p>
<p>Est Cal Grant A Eligible: 9,708
SCU Need-Based Grants: 18,400
Ford Fed Direct Loan Sub: 3,500
Ford Fed Direct Loan Unsub: 2,000
Total: 33,608</p>
<p>So what does my parents have to pay? 33,608? or is that what they’re giving me?</p>
<p>Congratulations!</p>
<p>[Santa</a> Clara University - Financial AidScholarships and Grants](<a href=“http://www.scu.edu/financialaid/Scholarships-and-Grants.cfm]Santa”>Financial Aid - Santa Clara University)</p>
<p>You have to pay back those loans. The sub[sidized] loan is interest free for some period of time. I’m not an expert, though.</p>
<p>Your parents are scott free from paying $28,108. You should be proud! Those grants may very well renew (SCU Need-Based Grant renews UNLESS your family starts making crazy bank, you get another scholarship from somebody else, etc.). The loans are something you have to sit down with your parents and think about very hard about. Give the Financial Aid office a call and ask what they think.</p>
<p>(408) 554-4505</p>
<p>You should be very happy. Many people may not get anywhere close to that much in grants.</p>
<p>Est Cal Grant A Eligible: 9,708 — “free money”
SCU Need-Based Grants: 18,400 — “free money”
Ford Fed Direct Loan Sub: 3,500 —“you pay this loan back after college”
Ford Fed Direct Loan Unsub: 2,000 — “you pay <em>interest</em> during college and the rest after college”
Total: 33,608 = the total amount of grants/free money and loans/pay-it-back-later.</p>
<p>COA (Cost of Attendance) for SCU in 2011-2011 is **51,045<a href=“tutition%2039,048%20plus%20room&board%2011,997”>/B</a>.</p>
<p>The grants and loans you were awarded of 33,608 do not cover the full COA amount of 51,045 and the “gap” that your family still must pay out of cash or other loan sources is **17,437<a href=“51,045%20-%2033,608%20=%2017,437”>/B</a>.</p>
<p>Hope that clarifies.</p>
<p>So I just wanted to verify that I am understanding this correctly. My FA award totaled 49K and I have the same two loans that were mentioned above for the same amounts (2500 and 3000). So this means that my family and I will have to pay $7,500 a year correct?</p>
<p>norcalstudent: yes, it sounds like you take the two loans (2500 and 3000) plus about another 2K in cash or other loans to bridge the remaining 2K gap to pay off the full COA of SCU.</p>
<p>Two things to note as long as we are being thorough:</p>
<p>The Cal Grant A is still “estimated” – so keep an eye on that number. I have no idea if that can fluctuate between now and the time it is nailed down vs. being an estimate.</p>
<p>You will still need money for books and incidentals.</p>
<p>Thank you for your reply, I believe that the cal grant is set in stone now. I applied EA, and they said that that was subject to change. But they just sent me another copy a few days ago, so I believe that is the figure I will get (for this year at least). Certainly, I will definitely need to keep in mind that I will have random expenses and books that I will have to account for.</p>
<p>so i use this amount 51,045 to subtract from the total in my letter and the remaining is what i have to pay or loan from somewhere else?</p>
<p>jaimerose - yes. That is how it worked for our daughter’s aid package. You can pay the remainder cost at each quarter (a 1/3 each time) or you can sign up for their monthly payment program which spreads it out over 10? months.</p>
<p>annikasorrensen: thank you for explaining it. it makes sense now ! :)</p>