<p>What exactly does the grant money on your acceptance letter mean? Does everyone get some? I know this might be a dumb question, but I got a weird number, and I don't know how. If anyone could answer I would appreciate it :)</p>
<p>If you haven’t already done so, just call financial aid.</p>
<p>The grant money is free money. Vandy establishes a Cost of Attendance budget, and they determine an Expected Family Contribution. COA-EFC=Need. Vandy will meet Need with grants and work study. Your family is expected to pay their EFC, although freshmen may borrow up to $5500 unsubsidized Stafford loan to assist in paying the EFC (you have to contact financial aid to ask for it).</p>
<p>Vandy’s COA budget includes a pretty generous amount of personal and travel expense. These are costs you can control. Add up the tuition, room, board, and fees. Subtract your grants. This is what your family will have to pay out of pocket to the school.</p>
<p>Thank you! I appreciate it and yes i just called financial aid yesterday.</p>