<p>Can someone tell me how this works please. Do colleges have any commitment to continue the level / type of financial aid once the student starts? E.g. if they received a nice package the first year, how do you know if that will continue? My son's college asked me to refile the FAFSA which I did, however now they said they won't let me know about financial aid until 'early summer'. My circumstances have changed, but when we went through the FAFSA, the EFC was about the same. </p>
<p>I do have another question. If the student is awarded work-study and didn't work the prior year, that money figures into the EFC and would increase the EFC. So then potentially the student wouldn't get as much work-study? Or am I missing something?</p>
<p>it depends on the school
My daughters school pledged to meet EFC.
However, package consisted of subsidized loans, grant and work study
Sophomore year, subsidized loan amount increased, although grant was about the same since tuition went up.</p>
<p>Some schools don't meet 100% of need. At those schools it can be more difficult to determine what their aid package will be. Schools don't necessarily meet as much need subsequent years, as the student has already made the commitment to the school.</p>
<p>Work study is part of the way schools meet need- it doesn't lower EFC.
If the student didn't work and met that need some other way-I don't think they would necessarily raise the EFC, but you would have to ask to be offered workstudy
I think workstudy is a good deal myself- it gives the student experience, but doesn't count against them as income for FAFSA</p>
<p>Apple, re: Work Study. If you're asking whether work study income results in a higher EFC (and lower aid) the next year, the answer is no. Work Study income is excluded from FAFSA. Regular student income (above 3K a year) does figure into the formula, and will increase EFC the next year.</p>
<p>OK, then we filled out the FAFSA incorrectly. We included his work study in his student income. </p>
<p>emeraldkity4, I am afraid that they won't meet as much of his need. That, coupled with the fact that tuition goes up and up, worries me. I think we're at the mercy of the school.</p>
<p>One other rumor I heard was that if the student decides to live off campus, their room & board doesn't count as part of the 'cost of college'. Does anyone have any experience with this?</p>
<p>Room and board is included as part of the total Cost of Attendance, whether you live on or off campus. But schools often have different estimates of the costs of room and board off, and on campus. So since the financial aid package is based on COA minus EFC, the financial aid package can change if a student moves off campus.</p>
<p>Work study income is included in the AGI figure, but then taken off in one of the Schedules when assessable income is computed. Look at Schedules A-C (C, I believe) for "Work Study included in AGI" or some such. Put the work study income in there, and it will lower the EFC.</p>
<p>DD's college estimates oncampus and offcampus costs as the same (as long as you are not living at home with a parent.) Thus, if you are frugal and living in cheap digs off-campus there is a possibility to save money living offcampus.</p>
<p>Work study $ should be reported as student income and then it would be removed from income available to school costs by including it where asked for on the worksheet. (ABC, I don't recall which one)</p>
<p>On the COA (cost of attendance) on FAFSA you tell them away at school, living on campus, living off campus, or living at home. This totals your COA which they use to formulate the aid available. </p>
<p>The public schools we have attended do not award the renewal packages until July, our packages have stayed the same, proportionately, each year. You need to talk to your schools fin aid dept to fin out how it works there. It's hard for you to plan if they do change your package dramatically!</p>