I was accepted to The University of New Hampshire, which is my top choice school and also the most expensive state school in the country. For me the cost of UNH would be $28,000 a year. I received $17,000 in grants $2,500 in work study and $7,500 in federal loans. My parents could easily contribute the $1,000 that is not covered in federal aid. Is this a good amount of aid? Should I have received more grant money and less loans?
Ok, it looks like your grants will cover your tuition ($17,000)
If you are a junior then you can borrow $7500 from the federal government
However, if you are a freshman, you can borrow $5500 from the federal government and they gave you an additional loan.
This is $24,500. Your direct costs are $28,562. This means that your parents should probably come up with $4,062. If you want your parents to only pay $1000 then you need to get an after school job now and work through the summer, saving every dime to chip away at this.
$2000 in work study (remember, you have to get a job, work the job and then get paid), you will most likely use this for your misc expenses, laundry, pizza and other sundry items.
What is your family’s EFC? Are you eligible for PELL/State grants? Are they already included in your package?
overall it is a pretty fair package considering that most public school do not meet 100% demonstrated need.
If this is going to be a financial hardship on your family, is there a school where you can commute to from home?
Perhaps someone more familiar with what that school typically gives can tell you if that is a “normal” amount if grants. But frankly, if they cover your tuition, you should count yourself lucky.
Okay thank you! I already have a part time job and money saved to cover my textbooks and some other costs for my first year. I’m not sure what you know about this but is work-study recommended? I already have a part time job and can relocate when I’m at school.
It depends. Like any job, you want the highest pay and most flexible. Sometimes WS is best for that. Sometimes private is better. So look at $ per hour, flexibility and amount in total bc WS will limit you to that much, whereas private you can manage up or down as needed!
Some WS jobs are just sitting at a dorm or library door. While there is work, it allows you time to study too!
When I was in school I did private work bc I got paid much more and could work more hours. But no studying on the job:). This will be up to you!
Do you have other schools/packages to compare?
One advantage to work study is that earnings will not count towards next years EFC the way a non work study earnings would be.
Good point!!
Sometimes jobs are only available to work study eligible students. If you want one of those jobs, you have an advantage.
Also, there is no FICA deduction from work study earnings (which means more money in your pocket).
Are you a transfer student?