I’m assuming that the University will subtract any merit aid from the need-based award/aid for a student?
As an example: if they say you are eligible for $25K and you have a merit award of $10K, then they will end up awarding $15K in need-based aid?
Just trying to figure out if it’s even worth filling out the FAFSA, plus long-range planning!
Thanks
Are you in-state or OOS? Most publics don’t have a lot of need-based aid (beyond federal aid such as Pell and loans) to give, and most prioritize in-state students. Merit aid will reduce need in any event, but if you’re “eligible” for $25K and have merit of $10K, that does not at all mean that you’ll get $15K in need based aid. You can’t get a federal loan or work-study without the FAFSA, so if you 're looking for those, you’ll have to fill it out.
Thanks. Yes, I understand it doesn’t mean that you’ll get the $15K that you need. I just didn’t know if they automatically subtracted the merit-based aid when awarding aid. From what I’ve read, it depends on the school. I’m mainly wondering about work-study. OOS. And those numbers are just hypothetical ones to use as an example.
I realize that to get any aid, need to fill out the FAFSA…just trying to see if its even likely we’ll get any. Not if merit aid subtracted, as I thought it probably would be. I just wondered about Alabama since I read it depends on the school.
Thanks again!
OP: Hard to say for sure… What I can tell you is that in our case (OOS), my student had the Presidential and the Engineering scholarships and he was still awarded work study for freshman year. If you are fine searching out a part-time job that is not Work Study (very likely retail or restaurant work, and probably off campus), then maybe you don’t need to put in the efforts of doing the FAFSA. However, if your financial situation is such that you would still have a gap after scholarships and you really want an on-campus job (that is pretty much guaranteed if you show up to the Work Study job fair and meet the deadlines), then do the FAFSA! Best wishes!
Thank you amy9998!
Bama will not subtact merit aid from need aid, the only need based aid available at Bama if you qualify are Pell Grants $5700 and then everyone is able to take out Students Loans, freshman are able to borrow $5500. Bama does not offer institutional need aid, regardless of EFC.