@mommdc Thanks - I tried to find this and could not!
@lvvcsf @Wilson98 Thank you both, yes, travel costs - driving and hotel, do add up! BILLED was the key “Aha!” word for me it seems, lol.
The lab fees don’t only apply to science classes. My D pays $25 for every theater, dance, music class. There is an A&S printing and computing fee even if she never prints a page. She has some other very strange ones, but they are fairly minor. Other D has had the same $325/sem student fee every semester. Tuition goes up, but for her the fees remain constant. There is also a 1% loan origination fee on the Stafford loans, so she’ll borrow $5500 but the amount credited to her account will be $55 short of that.
My kids don’t have a lot of money so don’t spend a lot but one has a starbucks addiction and the other will splurge on clothing, so they do need some spending money. It would surprise me if your daughter didn’t spend the $750 on day to day stuff like clothes, coffee, books, supplies, movies, toiletries.
@cloudysmom The problem is no one can give you a definitive answer without you listing the exact package here…or send me a pm like I suggested. The $1500 is absolutely not going toward paying your bill, but how much you need to budget can only be determined if you show us the figures the college provided.
Hi everyone, I spoke w/ our FA rep who explained it all - I thought more would be billed but it’s just the billable charges so I figured it out. She explained the work study and I am still a little foggy on the concept but it will be ok. Just a big relief to know it’s just T, R&B. The estimates from the school are for standard room & meal plan, which I assume is what we would do anyway.
I do know there will be lots of incidentals and unexpected fees and we are trying to save a cushion for that. She isn’t doing anything in the arts, or sports or Greek so seems I got off cheap, lol. Seems, like you all said, the ws is just spending $ as she didn’t get much of it but that’s $ I don’t have to send. I will send her w/ a box of toiletries she can keep under the bed & replenish when I visit from Target as I assume it’s more $ to buy at the school.
She won’t have a car. We didn’t get a Stafford Loan, unless that is the $5500 in sub/unsub from the FASFA? My D doesn’t drink coffee (yet!) and gets her clothes from Target, not into brand names, fancy purses or keeping up with the Jonese. Of course all that could change!
Thanks everyone!!!
My son isn’t in the arts either, but he took a theater class as an elective. That came with a $250 fee for show tickets.
@austinmshauri I understand, she’s such an introvert I just can’t see that but she likes art classes and those classes are $ w/ all the supplies so who knows!
The $5500 loan you got is the Stafford Loan.
Ok thanks @thumper1 was wondering about that!
@clousysmom - I have been your story following because our children ( I have twins) have applied to the same schools, W&M and Richmond (we are in the RD pool) One thing we have in common is that we have grandparents that are willing to pay part of the bill directly to the schools. I don’t know if you are aware but by paying the school directly, it should reduce your aid for all of the following years. From what I have read the schools will just increase the amount the family can pay which will reduce the aid needed when you fill out the financial aid forms. You will need to report the money paid on your students behalf.
If there is anyone with more experience with this situation please add any information you can. I’d be thrilled to find out I am wrong! I just wanted to let you know in case you were really counting on more
financial aid in the last three years.
@cloudysmom - sorry for the typo above!
@twoforone99 HI, thanks for the post, funny our kids like the same schools. Did yours apply RD for both? Are you in state, if so you should get much better aid at W&M than we would OOS, which is one reason we focused on UR.
Yes, I have heard that but I heard if the grandparent pays the school directly, it’s better as it’s not coming from the students family, that it will be used as income if they pay me and I pay the school directly. I, too, have been concerned about this and if anyone out there has any real facts, please let us know!
. We disclosed 1 grandparent contribution on the CSS profile but not the other one as we didn’t know about it at the time. The UR rep did tell me they took that one into consideration. They don’t know about the other but perhaps I have it back ward as it’s best if she pay directly? Now I’m confused, lol. I assume I can say we have nothing concrete about that grandparent next yr, and not put it down again, since technically I do not, as we have to reapply for aid, FAFSA & CSS each yr.
I am counting more aid due to my ex H making much, much less in 2016. I will have the same aid from my parents 529 plan that I disclosed. When I reapply next yr, I assume they base it on 2016 numbers, when I spoke w/ the rep she said most peoples incomes don’t change that much however mine & my ex H’s do so she encouraged us to have him reapply as well, as he doesn’t need to, just me, unless he has a change in circumstances, which he did.
I don’t see how they can penalize us by w/drawing the amount from the other grandmother if we reapply. If we did not, then sure, but we will & they must use those #'s.
@cloudysmom Yes we are instate. My son has been admitted to UVA but is waiting to hear from W&M and Richmond. My daughter is already in VCU, JMU and CNU. I’m hoping Richmond will work out for her too. Her math scores make her lopsided too. I have had several calls to Richmond’s financial aide office, they really are the nicest people. We are waiting for some tax form to be received by them.
It is great your parents put money in a 529, ours just wants to send a check. I tried to tell them there are better ways that won’t affect the kids aide but we can’t kick the gift horse I guess!
i hope it works out that your daughter can go to U of Richmond. It was the first school we toured and I was like okay we can stop looking! lol
If your parents pay the college directly, I don’t believe it will affect aid…except as money spent on your kid’s behalf in the subsequent year.
If in a 529…in the grandparent name…it would be the same.
I think! Hoping someone clarifies!!
If the grandparent contributes to grandchild’s college costs in 2017, then wouldn’t that be listed on the 2019/20 FAFSA? Of course U Richmond doesn’t just go by FAFSA anyway, since they also require the CSS profile and NCP profile.
I don’t want to muddy the waters by doing your finaid math for you but wanted to agree with other posters who say “TAKE THE WORK STUDY!” It gives the student that extra spending $$ they need for both essentials and fun. The schools make it easy and won’t let it interfere with exams. My daughter did it for the first year, as well as picking up other jobs (chem tutor, correcting math papers) but decided she didn’t want to do it semester #3 and was broke all semester. She is back at it this semester and is much happier. At her school, you can chose 5, 7, or 9 hours/weekly at $9.50/hour. She is doing 5 hours but that $48 is plenty of spending $$ for her. Work Study was also a way for her to meet other students.
She is defintily doing the work study, I thought I said that? Just didn’ tunderstand hwo the $ worked, if I needed to pay i tup front or what but I only needed to look at billable expenses, she is doing it for sure!
@thumper1 I hope that’s right! I disclosed on CSS and FASFA (if they asked, can’t remember) that my parents are contributing from 529. Our UR rep said she took that into consideration so I assume our aid was reduced by that. However, didn’t know about this other grandmother until later on, wondering if it’s better, as far as them reducing our aid in future years, if she pays directly or gives it to us and we pay? Want to figure this out before we get the bill early July I think. I know 1st payment is due 8/1 and balance will be equal 10 mos payments so want to get all we ianto her acct before the payment plan is created.
Would grandma be willing to give the money to YOU, the parent? As a gift. Then you could pay the college bill with it.
@thumper1 yes, if she thought it would cost us $1K in aid the next yr. It’s the same amount as giving a gift so ok but I thought if it came from MY acct then it would show I had the $ and it would come back to haunt more more than if she paid it? Is that not right?
You are allowed to get gifts…and spend them. Just make sure the money is NOT in your accounts the day the fafsa is filed.
@mommdc do I have this right?
I think so.