<p>Hi, I have a problem with fin aid, that I hope U can help out!My d recieved her aid pkg and i even received a bill- now that they received notification of her scholarships things are changing! ( i UNDERSTAND THERE IS SOME SORT OF FORMULA) But, How did she end up losing money? I think im going crazy! Her estimated COA was 46,004 for the year- She received 14,00 yr Achievement award, 2500 a yr in presidential scholarships, 7386 u grant, 3000 no intrest loan, 3500 sub stafford loan, 2000 unsub , 9708 cal grant ( Which school did decide to cover this year). after that my actual bill was $33 dollars ( I was very happy). The books and supplies were only 1638. ( No room to play) Now, I called and they said her sub is 1617 , her unsub is 3888 and everything else stayed the same! How does that happen ? I give them a check for 2600 , out a 3500 loan should be 900 right? Im sooo confused!!! What will my bill be now?my efc is 5400 but we were glad she got scholarships- we even changed her to a triple!!! Help me understand please!I was not understanding it when I talked to fin aid!!!;(</p>
<p>IT might be helpful to call fin aid again and speak to someone else in that office. Sometimes another person is better able to expalin things or perhaps you didn’t phrase your questions in a way that would help you get the best answer. Go over the bill line by line with the fin aid office. They should be able to expain it to you. Perseverance!</p>
<p>I’m guessing the school originally estimated the amount of your $5500 in Stafford loans that would be subsidized. When they got the final numbers they adjusted the amount.</p>
<p>Your Staffords still add up to $5500, the only difference is that interest will be accruing on $3888 instead of $2000. Assuming you defer the interest while your D is in school, the net result is that your total loan balance will be around $1000 higher when she graduates than with the original package.</p>
<p>It doesn’t cost you any more now, though, since, as you said, all the scholarships and grants are staying the same, only the loans changed.</p>
<p>Because she’s eligible to borrow the full Stafford of $5,500 but the school can only award subsidized funds up to her unmet need. It sounds like she had outside scholarships which would have reduced her need.</p>
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<p>I have no idea what this means. If you owed them only $33 before, and the Staffords still total $5500, and “everything else stayed the same”, how did you end up owing them $2600?</p>
<p>Hi, Sorry, Ive been frustrated- the 2600 was outside scholarships- I just didnt understand how it worked- still dont,but, she still ends up owing more in unsub loans if she takes it. Hopefully, we dont have to. I called back and the fin aid lady told me keep the loan for now, then send it back to the bank if we dont use it, I guess for emergencies? Still kinda sucks that 2600 in outside scholarships turned into alot less- because of the sub loans being taken away! I guess I should be happy we are in this position and not worse, but, she worked sooo hard! Thank you!I guess this was more of a rant! So unless it really helps , I told her not to apply for the scholarships.</p>
<p>sorry ,I assumed it was a dollar for dollar trade- I should of known that it cant be that easy!</p>
<p>I would sit down and carefully project the expenses she’ll have for this semester. If she isn’t going to need the unsub loans, why take them? If she does need them later, she can have them reinstated, afaik. But there will be interest due from the date of disbursement if she takes them and returns the unused money later.</p>