Financial award letter

Paying for College
1

<p>I found out what my financial aid package is today online, and I have a couple questions for anyone who knows this stuff.</p>

<li><p>It says: This offer may be changed due to availability of funds and/or any future changes in your eligibility. You must notify the Student Financial Aid Office about other aid you are receiving or expect to receive that is not listed above.
Does this mean that I should accept the aid I recieve as soon as possible or it might go to someone else?</p></li>
<li><p>There is an option to select which aid I accept and a button to submit. Will I be able to submit it more than one time, e.g. will I be able accept some of the aid now and submit it, and choose some more aid and submit it later; or is it a one time thing, and once I submit it, I can’t change my choices?</p></li>
<li><p>Are grants and loans renewable, or are they a one year thing? These are the grants and loans I recieved:
Est. Ohio College Opp Grant $798<br>
University Need Grant $1,000<br>
Federal Pell Grant $2,660<br>
Federal SEOG $900<br>
Federal Work-Study Program $3,000<br>
Federal Perkins Loan $2,100<br>
Federal Stafford Sub. Loan $1,632<br>
Federal Stafford Unsub. Loan $1,636<br>
Which of these, if any, will be renewable for the four years of my college education?</p></li>
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2

<p>Your Pell, SEOG, Work Study, Perkins, Sub and Unsub loans will vary year to year because they are based on the FAFSA information and the federal limits set forth by Congress. If your income stay relatively the same...and the Federal Limits don't change...they may stay relatively close to their current amounts.</p>

3

<p>Nikkil - do you know what happened with the proposed budget for 2008 onward? I recall there was a proposal to increase Pell over a period of years but that, in with the proposal, SEOG was going to be cancelled altogether.</p>

4

<p>Right now a lot is up in the air because the Educational Committees are looking at changes for other things. Where financial aid will be in 2008 is pretty much uncertain until after the elections. Two of the committee members are too busy working on their campaigns and one other committee member is too busy chasing down the "Fired Judges" story to care about reauthorizing the Higher Education Act which regulates Title IV funding.</p>