I have a chance to have all of my tuition paid if I go to certain schools (through my parent’s employer). However ever that will still leave me with over 10k a year for housing. Can I choose to apply financial aid that I get to housing instead of using it on tuition?
This will vary by school. First off…you would need to get aid.
Some types of aid can only be used for tuition (scholarships that specifically state they are for tuition only), but most types are flexible and can be used for room and board. Loans can be used for whatever you want.
@thumper1 Well yes that is true, I guess what I’m asking is are some aids only for tuition?
Some types of aid are foe tuition only…but many are not. Remember also, any aid you receive for room/board will be taxable income for you.
A Direct (Student) Loan can be used for housing.
Some people use the term ‘financial aid’ to only refer to need based financial aid, like a Pell grant or school grant. Others use it to include all money available to pay your bill - merit scholarships, athletic scholarships, talent, pell grants, loans, state money of any kind.
Some schools, including those giving tuition exchange, will only allow their own fund to be applied to tuition. Some tuition exchange schools only allow the tuition exchange and then won’t award any merit scholarships or other aid (the federal aid is always allowed, so you can take loans, etc), while other schools, including some TE schools, allow all types of aid to stack, so you can get the TE, a merit award, need based aid, etc.
A few scholarships are very specific in that they can only be used for tuition. You just have to check the terms of each source of funds.
What is your EFC?
@TomSrOfBoston Around $5000