<p>Alright, so I just got mine. I got hooked up pretty phat, as they might have said in the late '90s. Anyway, there is no part that says "expected family contribution" or anything along those lines. I got some work/study money and some loans, but that's it. I don't get it, so my parents don't have to pay anything? (because the loans are mine?) or are the loans theirs? It just says federal subsidized loan and federal unsubsidized loan. is one mine and one theirs?</p>
<p>Sorry about all the questions, feedback would be appreciated.</p>
<p>federal subsidized is the one with no interest until after your 4 years of schooling. Unsubsidized is the one with interest. Both are “your” loans but your parents can always pay for them. Read here for more information:</p>
<p>Does the total amount of the aid in the letter come to the total cost of the school? I ask because you you only mention WS and loans, no grants or scholarships. It seems unlikely that WS and Stafford loans alone would cover the full cost of the school.</p>
<p>No, I had other scholarships and grants that added up to the total. but it seems really weird to get this good of aid. I mean my family’s not way rich, but we’re fairly well off. i just find it hard to believe they don’t expect any money from my parents.</p>
<p>Chronic, the Direct Sub loan is yours with interest deferred. You may also see a figure for Direct Unsub loan. Yes, you may take that amount. No, it is not need-based. So if your parent’s efc was approx the difference between Cost of Attendance and the total of your other awards plus direct loan, then yes, you’d be able to take the unsub loan instead of paying your EFC out of pocket. That is how our fin aid package worked as well. That said, we’ll pay cash if we can for our part : )
I know that sounds confusing but if you look at your award notice, it should make sense. Just remember the unsub amount of loan is NOT need based and MAY therefor account for or be an allowance for EFC.</p>