Pell Grant Estimate - $1,570.00
Direct Stafford Loan Estimate - $5,500.00
whats the average ?
Everyone who is eligible for federal financial aid can get a Stafford loan of up to $5,500 for freshman year. There’s no way that anyone can estimate how much of a Pell grant you are eligible for without knowing your family’s financial numbers. Have you submitted a FAFSA, or at least tried using an online estimator?
It does not matter what the average is. Only your EFC matter to you. After all, even your EFC may not be very meaningful when the school does not meet your need.
yes this is the info that they provided me just after completing the fafsa
but I hasnt been processed yet it says it takes some days.
so what does this exactly mean ?
Eligibility Information
Estimated Expected Family Contribution (EFC)= 004302
Based on the eligibility criteria you may be eligible for the following:
Pell Grant Estimate - $1,570.00
Direct Stafford Loan Estimate - $5,500.00
You may also be eligible to receive other federal, state, or institutional grants, scholarships, and/or work-study.
It means that for the 2018-2019 school year you are eligible for
$1570 in PELL grants ($875 per semester)
$5500 in student loans ($2750 per semester)
What is your home state? Do they offer state aid?
Other federal aid (SEOG, Federal Work study) are not guaranteed
Schools that give large amounts of student aid, will request the CSS profile or their own institutional aid forms.
Where are you applying?
This is definitely not enough to cover the cost of tuition room and board
This means you very likely will receive a $1570 Pell Grant for the full year…and $5500 as a Direct Loan.
Those are the only guaranteed forms of federally funded aid you will receive.
You MIGHT get other grants or scholarships…and you MIGHT get Work Study.
The MINIMUM your family will be expected to contribute this coming year for college is $4302 …the MINIMUM.
What colleges did you apply to? If your colleges guarantee to meet full need, you likely had to also complete a CSS Profile which takes a far deeer look at your family financial situation than the FAFSA.
@sybbie719 @thumper1
im from arkansas applying to their main campus… uark
how do i complete the css profile ?
thank you
First…check to see if University of Arkansas requires the Profile. I do NOT believe it does. If a school doesn’t use the Profile, you can’t submit it to that school.
You have $1570 in Pell Grant, and $5500 in Direct Loans. That’s about $7000. Your contribution per FAFSA is about $4300.can your family pay that amount? If so…you now have $11300 to pay for college for your first year.
The cost of attendance at University of Arkansas in state is about $25,000 a year if you dorm there.
There is a net price calculator on the college website…have you completed that? It will give you an estimate of your net cost to attend the college.
The FAFSA output tells you what part of your aid - the Pell grant and loan - will be covered, by the federal government. There may be another chunk that will be covered by your state and university that you will be notified about after your FAFSA is processed. You do not necessarily owe the remaining $22,000. To get an estimate of the remaining amount, run the net price calculator here:
https://universityofarkansas.studentaidcalculator.com/survey.aspx
Again. EFC does not mean much if the school does not meet your need. You should check the NPC of each school you are going to apply. It seems you are a senior and first time submitting FAFSA. It is a little bit late as this is near the deadline for most RD application and you should have compiled a list of affordable school long before filling up the application forms.
oh boi this is bad…just calculated my estimate and there is no way I can afford it since my dad ain’t giving me a penny because I dont wanna follow a certain major. I guess I’ll find a cheaper one.
thanks everyone
There might be a community college to 4 yr university pathway.
Check Debt by Degrees for state by state listings of low cost schools for low income students
@emeleoooh in a previous thread, you indicated that you were going to attend a community college for a year…and commute from home. Is that still an option…because the Pell Grant and Direct Loan probably will pay your community college tuition and fees. If you can live at home, you will save room and board costs. In addition, your former thread indicated you had a job (the thread where you were concerned you wouldn’t be able to take your own extra desk)…so do you have income of your own for other expenses?
@thumper1 I had a scholarship 3.3k for 2 years and 2k for the rest but I lost it due to school absences and conduct. There is a nice school near my area called uafs it is a 4 year college. plus there is a 14k scholarship called the governor’s something… for everyone above a 19 on the act. so i should be fine… I just wanted to leave my hometown.
thanks everyone!
and yes I have some money of my own.
http://admissions.uafs.edu/financial-aid/challenge
This grant? For year one…it’s only $500 per semester.
Will that plus your Pell and Direct Loan pay your costs? If so…great.
It’s $19000 if you live on campus…and $7000 or so for tuition and fees only.