<p>so i just received my financial aid packet from UMass Lowell and there is a list of offer and on the bottom it says total 19050.00 is that the amount of money i will get for going there?
and in the offer, there are Fed direct loan subsidized and unsubsidized, i have to pay these two back, right?
there is a UML campus work program and i dont know what this is </p>
<p>and since im still not sure if im going to this school, what should i do now?
thanks for answering :)</p>
<p>Yes, the federal direct loans will have to be paid back with payments beginning when you finish (or otherwise leave) college. The portion that is subsidized will not accumulate interest until after you’re out of college, the unsub. portion will accumulate interest even while in school.</p>
<p>The total of 19050 included the loans. It may also include any grant aid (this does not need to be paid back), scholarships (do not need to be paid back), and work study. Work study is money you can earn by finding a workstudy job (usually these are on-campus jobs). You’ll have to find the job yourself (there will be a student employment center that can give you information about how to go about doing that) and the number of hours you can or want to work will vary, as will the pay per hour. At a lot of colleges the workstudy jobs pay from minimum wage up to $1 or so above that. Some have a few jobs that pay more, but basically the wages are pretty modest.</p>
<p>Your figure of 19050 may also include Parent loans. These will have payments due as soon as the loan is made – they are not deferred while you’re in school – and come with higher interest rates than student loans.</p>
<p>thank you, 'rentof2, so if i dicide to go and send in the deposit, how will i pay for the tuition by using this money?</p>
<p>The school will receive and apply all the grant/loan money. If there is a balance due, you’ll get a bill. If they owe you, a refund will be issued (usually right before or shortly after the semester begins).</p>
<p>If you can post the details of your financial aid offer people on this forum can help you decipher the whole thing.</p>
<p>Federsl Pell Grant 3200
Federal Supplemental Grant 800
Federal AC Frant Year One 750
BHE Cash Grant 1000
Mass. Grant Fall 150
Mass. Grant Spring 150
UML Need-based Grant 3500
BHE tuition Waiver 1000
Fed Direct Loan Subsidized 3500
Fed Direct Loan Unsubsidized 2000</p>
<h2>UML Campus Work Program 3000</h2>
<p>total 19050</p>
<p>so if i dont find a job at school, i will not be getting the 3000?</p>
<p>If you don’t get a job, then you won’t get the $3k.</p>
<p>You usually have to pay the deposit yourself because those funds aren’t available right now. </p>
<p>What is the CoA for this school?</p>
<p>That’s a nice chunk of “free money”. Good for you. Keep in mind that $3000 is a pretty big chunk of workstudy. You may not be able to earn that much even if you do find a job without working more hours than is optimal in terms of balancing classes, papers, studying, work, and having a little down time.</p>
<p>I think $2000 is more reasonable as an upper limit… but that’s just my opinion.</p>
<p>I see the in-state COA for UMass Lowell is 19,316, so your aid package actually gets pretty close if you’re comfortable with that amount in loans. The way they calculate COA, though, does not include your textbook costs and personal expenses. Be sure to factor that into your consideration. If you got a summer job you could probably go a long to closing any gap, if not close it entirely.</p>
<p>what kind of job are out there? you have to work on-campus right? like tutoring?</p>
<p>Generally, bigtuna29, all kinds of jobs. I know at my son’s school there are jobs at the library, jobs in the cafeterias, jobs in the athletic department, jobs in the individual departments, jobs in the student centers. As an example there was a job watering the plants in the greenhouse, there was a job as scorekeep at athletic events, a job working for the profs making photo copies, answering phones. When you encounter students answering phones, giving campus tours, signing out pool sticks etc. many times those are work/study jobs. Last year my son worked in the campus art gallery helping hang exhibitions. Just a big variety of jobs. Sometimes they are posted on line, check with your college to see where they post the jobs. Most often they pay minimum wage and most kids works around 10 hours a week…they get paid like an employee every couple weeks and they can generally have the money direct deposited into a local account or they can pick up a regular check and just cash it.</p>
<p>ohh so as long as i get a work/study job, i will get that 3000 dollars and plus i will be getting the work paycheck?</p>
<p>No, you can work hours up to a total of $3000. You can work less if you want but you will only be paid for each hour your work up to $3000 worth of time. You’ll most likely submit a timesheet paper or electronic. Most freshman fall students cannot count on the work/study monies for books since you won’t start a job until you find one and the first paycheck won’t come for a couple weeks. My son gets paid about every 2 weeks I think.</p>
<p>so this means the more i work the more i will get out of that $3000 and can only be up to $3000</p>
<p>Workstudy is a program where the government gives colleges a certain amount of money that the colleges use to pay students who have jobs as part of their financial aid award. The college decides how to distribute that money by “awarding” students a certain amount that they can earn through a workstudy job. It’s good for colleges because they get student labor for lots of (mostly) on-campus jobs, and the government pays the wages instead of it coming out of the school’s own budget.</p>
<p>My son gets $1800 in workstudy. He is not inclined to work enough hours over the school year to actually earn that much. (He enjoys his free time more then he enjoys the money I guess.) He only gets paid for the hours he works. His job pays, I believe, $9.25 an hour, but he usually only works 4 hours a week. He won’t end up earning the full amount of his work study award, but that’s fine. Students are not required to earn it all, but they just can’t earn more than that amount because that’s all the workstudy funding that was awarded to that particular student.</p>
<p>My daughter was awarded $1500 workstudy for the year. She’s worked 6 to 10 hours a week since the fall and is not just about to hit her ceiling – only about $40 dollars away from the $1500 cap. I believe in her case they’ll make different arrangements to keep her in her job and keep paying her, but it won’t be coming from those federal workstudy dollars she was initially awarded. Some schools can find some other way to work that out when the workstudy award is exhausted by using other funds they have available, others can’t. It just varies.</p>
<p>thanks i get it now, you guys have been helpful!</p>