question about full-ride need-based scholarship to a pretty good school...

Paying for College
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<p>hi! i got accepted to boston university and they met 100% of my need (which was a full-ride because my EFC was 0), with various grants, an institutional grant (for over $30K), and then one $1000 loan. it was all need-based with "academics considered" - so no straight out merit aid. plus, there are like $10,000 in other loans that they offered me, but i am going to turn them down because why take out more in loans than i need? that brings me to my first question: why would they offer me $10K more than i would need to cover all room, board, and living expenses? is it a mistake?</p>

<p>secondly, i have a few health problems, and i'm starting to get worried about if they got bad enough where i'd have to either take a leave-of-absence or drop out completely from college. in that case, would i have to pay back all the money that i used so far in my education at BU? for example, say i am in the middle of my junior year and my rheumatoid arthritis gets so severe that i can't continue in school and i dropped out. would i have to pay back all the money in grants and scholarships that they gave me for the 2 and a half years i went there? in other words, is it required that once you accept financial aid or institutional grants that you MUST graduate from that college?</p>

<p>they talk about tuition refunds, i.e. 100% is refunded before the first day of classes, 80% is refunded after 2 weeks, 70% after 3 weeks, etc. which made me think, "hey, if i drop out in the middle of a semester, do i have to pay the difference?!!?!?"</p>

<p>thanks so much and sry about the long-winded message!!!!!!</p>

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<p>First, I really don't know why you would have been offered more than the COA. When I was in grad school I was offered loans in excess of my COA, but I was an independent. </p>

<p>As far as your second question, Once you complete a semester, you have no obligation to pay back any of your merit or need-based aid. You do not have to graduate from BU. Look at each semester as being independent of each other. </p>

<p>However, if you drop out in the middle of a semester, that would be a problem. You would be responsible for the unreimbursed amounts. However, I THINK that you could take incompletes in some classes, then submit the remaining work the following semester. I was in a very bad car accident when I was an undergrad, and I took this option for 3 of my classes. </p>

<p>Also, if you do become ill during a semester, you can always contact the professors and see if they can work something out for you. When my sister was in grad school she was diagnosed with cancer and was on chemo during her last semester. ALL of her professors let her complete all of her work from home. Her husband would pick up any assignments and tests. </p>

<p>I hope this helps, and maybe you can talk to someone from BU regarding medical problems and ask what the policy would be should you become very ill in the middle of a semester. I have no idea who this would be....</p>

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<p>Oh, I forgot to say congratulations on the great package and good luck.</p>