<p>So I got my financial aid award on the discover drexel site.</p>
<p>PHEAA Grant: $600.00
Federal Work Study: $1,500.00
Dean's Scholarship: $11,500.00
Early FAFSA Award: $1,000.00
Suggested PLUS/Private Loan: $12,768.00
Subsidized Direct Loan: $3,000.00
Unsubsidized Direct Loan: $2,000.00</p>
<p>I know the grant and scholarship, and early FAFSA award is good, but everything else has to be paid back, right? Thats a lot of loans. :/</p>
<p>Also, I found a big mistake on the FAFSA and corrected it, and it reduced my EFC by about 30%. This change has not reflected on this award, but when it updates, should I expect more loans or less?</p>
<p>(Are you living off campus? Because my PLUS is so much larger and the other numbers are similar and that’s the only way that makes your numbers works.)</p>
<p>I’m not 100% sure, but the PLUS loan is basically what Drexel is not giving/loaning you, so I think they’re just trying to say that that is the amount of money you need to come up with after the money they have given you. The work study is just a paycheck, so you can use that money how you choose. You have to pay the loans back (obvs), and they gave you pretty much the max for each (I think 5k or 5.5k are the most for freshmen in total Federal loans). It sucks, I just checked and they gave me the same thing for loans.</p>
<p>I received an email saying that my financial aid award is online, but when I log on I know I only get expected cost of attendance which is the total amount with no aid. In my acceptance packet, I know I at least got a scholarship so am I missing something?
Thanks</p>
<p>@whale18, I’m in basically the same position as you. I received the email about the financial aid award being online earlier today. I also got a scholarship when I was accepted but when I log on to Discover Drexel, the Financial Aid box only says "Your original 2011-2012 FAFSA was received February 2, 2011. If any additional information is required to complete your financial aid award, you will be contacted via mail. "</p>
<p>My son got the email this evening. His package was listed in the financial aid box.
The total package adds up to around $54,000. hmmm. fyi at the honors day on Saturday, we learned that the costs for tuition/housing rose from $46,000 for the present year to $49,000 for next year. So in 5 years, we might be at $62,000 per year.</p>
<p>For those of you who received your financial aid packages, Would you mind giving me an idea of your EFC as well as what you are expected to pay out of pocket?
thanks!</p>
<p>Our financial aid package was pretty disappointing. Deans scholarship $15.500/yr for 5yrs and then other than the $1000 for filing FAFSA early, nothing from Drexel. Everything else was from the State or the Federal Govt. And, our FAFSA is pretty darn low. Makes me wonder what is going on. Very strong student, High GPA, Class Rank, 8 AP’s, all rest honors, exc rec, extra curriculars, SATII 700, 690. Why give a student so much merit in November and then nothing on Financial aid? It sounds strange to me…</p>
<p>Pell Grant: $5,550.00
Federal Work Study: $1,500.00
Suggested Federal Perkins Loan: $1,100.00
Federal SEOG Grant: $2,000.00
DU Endowed Grant: $7,000.00
Early FAFSA Award: $1,000.00
Suggested PLUS/Private Loan: $4,000.00
Subsidized Direct Loan: $3,500.00
Unsubsidized Direct Loan: $2,000.00</p>
<p>=27,650</p>
<p>so does this mean i have to come up with around 25,000 on my own?</p>
<p>Unless I am reading this wrong, you got $15,550 in grants ( you don’t thave to pay back) and the rest will be loans such as the federal Perkins Loan, and the other loans are just estimates that they gave, however you might need to borrow more than they suggested. At least that is my understanding of it after calling Financial Aid. They said we could appeal if we thought it wasn’t an appropriate amount. Sorry to be the bearer of Bad news…I know that we were very disappointed.</p>