<p>I really messed up on my FAFSA. I didn't think I was going to a certain university and decided if I did end up going there I wouldn't dorm because it isn't that far away from my house. Now, however I do want to go to that school and I do want to dorm there, but I decided this long after I sent my FAFSA in. The other day I got it back saying for that school I only got $5,500 because I chose to live at home. How can I change this to get more money?</p>
<p>Also, I was wondering when I would start hearing back from universities about what scholarships I was awarded?</p>
<p>Lam, check for your EFC on your FAFSA. The $5500 you got sounds like it might have been a Stafford Loan, is that correct? You need to see what the calculation for your family contribution is on the FAFSA. It may be that it is high enough that even IF you live on campus, your aid wouldn’t change. Also, if your school doesn’t meet full need, your aid might not change.</p>
<p>You should be able to change your FAFSA to reflect on campus as your living choice BUT you also should call the school to see if they can and will review your financial aid package based on that change.</p>
<p>You also should be prepared that your aid might not substantially change.</p>
<p>On the paper it says Fed Direct Subsidized and unsubsidized loan, I saw nothing about Stafford if that helps. Also, my EFC is 13183, which I’m guessing is pretty low though I could be wrong, so would this mean it’ll be easier for me to get more financial aid?</p>
<p>I went back to me FAFSA and changed it to living “on campus” right after I got the letter and then hit save and send, so would the school I changed it for automatically get my FAFSA again and re-evaluate it? I know those who send it in early get priority, and I’m hoping it doesn’t effect me or take too long to re-process. I also e-mailed the Financial Aid department at the school and am hoping to hear back from them soon.</p>
<p>Your EFC will remain the same whether you live on campus or not. The $5500 loan is the Stafford loan. </p>
<p>What you need to do right now is list all of your colleges and what it costs to go to each one of them. If you have received financial aid for any of them, you subtract out any grants you received to get a net cost. The $5500 Stafford loan would probably apply to any of them, and it is a loan; you might get some of it subsidized.</p>
<p>You then need to call the financial aid offices of each of the schools and ask them what you can do about living on campus. Ask if any have financial aid available to help you out in that regard. The $13,183 EFC is what the government says your family is able to pay so if the cost of the college is over that, you might get that part of the Stafford loan subsidized.</p>
<p>At this point, most all merit awards have been given as this is the time everyone is trying to decide where they will be going to college and those awards will figure in the decision. You can ask if there are any awards available at each of your schools, and if you are a student with high test scores and grades, perhaps something can be found. But it is late in the process. It might be wiser to commute this year, and think about applying to live at the college next year if you can afford to do so. </p>
<p>Look up your colleges and see what kind of financial aid they tend to give. Most schools do not meet need, so they may not have the money to give to you. The other option is maybe taking a gap year this time around and researching schools that are likely to give you money and giving it a go next year. Maybe take a class or two , work and save some money. You do have to plan to get financial and merit aid. It doesn’t always come naturally.</p>
<p>The Federal Direct Loans ARE the Stafford Loans.</p>
<p>What is your school’s cost of attendance? Does your school GUARANTEE to meet full need? Your EFC is too high to get any federally funded grant money (e.g. Pell or SEOG). Any additional financial aid money would come from your school itself. If your EFC is close to the cost of attendance, your aid will likely not increase. If your school cost of attendance is in the $18,000 range (your EFC plus the Direct loans), you won’t see an increase in your financial aid.</p>
<p>Is it a state school? If it is, then likely your EFC plus those student loans meet COA. And, state schools usually don’t meet need anyway.</p>
<p>It’s very likely that you wouldn’t have gotten more money even if you had indicated that you were going to live on campus from the beginning. State schools don’t usually give money to pay for room and board because tax-payers can’t afford that. Living on campus is a luxury, so there is often an expectation that PARENTS are supposed to pay for that.</p>