I received a FA package today from a full need met college and wanted to know how the billing works. Tuition and Fees are listed as “billed” as are Room and Board.
Books, Personal and Travel are listed as non-billed but are listed as part of the package. How does that part of it work?
Let’s say for instance your EFC is $24,000 for example. Do they bill you for $2,000 a month but also give you a check to pay for books personal and travel etc? Never done this before so pardon my ignorance,
If your financial aid is more than your billable costs in the semester, your kiddo will receive a refund check…usually several,weeks into the term.
Does the financial aid award include work study? If so…that amount needs to be earned.
Well they list a certain amount as a “student contribution” which isn’t indicated as work study so I assume that means him earning money from a job apart from college work study.
Student contribution is NOT part of your financial aid package. That is the amount the college expects the student (or family) to contribute towards the college costs.
Could you put the aid package on here? It’s hard to comment on it without knowing what kids of awards your son got.
for some low income students…the student contribution is actually earned by work study. No way to know wothout seeing your sons actual package…and the costs to attend the school.
The billable costs are what the university provides and bills for like tuition, fees, room and board (if living on campus). Then the COA (cost of attendance) has estimates of travel costs, books and personal expenses included, but you don’t pay them to the school, they are just to give you an idea of extra costs to consider and sometimes the school will give aid up to the COA with merit or need based aid.
Usually there is a student contribution and possibly a family contribution depending on EFC that the school calculates.
Those can be met with student loans and student work study and summer earnings.