Question About Financial Aid Package

Colleges and Universities A-Z Villanova University
1

<p>I received a Villanova Grant (which is need-based) of $25,000 for the 2010-11 school year. When discussing things with my parents, my dad brought up an interesting point.</p>

<p>The maximum amount that students can receive in federal loans increases every year (i.e. it was only about $5500 for me as a first year student, but will be significantly more in subsequent years). Now, what I'm wondering about is: Will Villanova decrease my grant money in the coming years and increase my loans, while keeping the total financial aid package the same?</p>

<p>For example: imagine my total aid package this year was $30,500 ($25k grant + $5.5k in loans). Next year, let's say I would be eligible to take out $10k in loans. Would this mean that Villanova would give me the $10k in loans and decrease my grant to $20.5k (thus keeping the total at $30.5k)?</p>

<p>This would be hugely deal-breaking for me, because Nova is going to cost a lot of money for me as it is. To take away grant money from me in future years and replace it with loaned money would absolutely bury me in debt (which obviously is something I don't want).</p>

<p>If anyone can speak from experience, or provide any insight at all, it would be greatly appreciated.</p>

2

<p>Well, next year you will only be able to get another 1K in Stafford subsidized loans … from $3,400 to $4,500, which will increase to $5,500 in 3rd and 4th year. So your loans can only increase 2K over the next 4 years. I don’t see your grant being affected much, because the cost of tuition each year most likely will increase 2K as well. So your eligibility will stay the same, unless your income increases/decreases. IMO</p>

3

<p>Ok, thanks. I just assumed that my loan eligibility would increase much more than that. But I did look it up, and you are correct.</p>