Reveal your child's financial aid award here

Paying for College
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<p>3321...you probably just have to wait if that is your schools' policies. DD applied to three schools early (one rolling and two EA). She received her finaid offers from the two EA schools in January (but they were not finalized until end of February). She got her merit award from the rolling school in February, but that was a completely different process that was merit only and not need based. Some schools have a priority deadline, usually for the Profile that is in November...on which the craft an estimated financial aid award for EA/ED students who are accepted. ED schools do this so that students will have a financial package with their acceptance. EA schools sometimes do NOT award finaid prior to the regular awarding date for RD....EA students are not obligated to make a matriculation decision until May 1...so the schools don't need to rush those out. Some do and some don't. If they don't, they WON'T for you.</p>

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<p>3321, I did not arrange this; the public school sent us a financial aid application (w/ the acceptance letter) which I returned with the requested tax form from 2007 and an estimate of 2008 financial info (income, mainly, and my housing info costs such as mortgage, insurance, property taxes). </p>

<p>I only think my EFC is about $4000 because that is what it was on one of the online calculators. Since I have never filed FAFSA, I do not actually know that for a fact</p>

<p>I was scrupulous with my info for the public instate and I certainly hope they did not make an error. If, as some of you say, the EFC and Pell and Perkins are all figured out by a federal formula, then unless there are drastic changes to my income/financial status /child's income and/or the state goes broke, then I do not see how the aid would vary from one year to the next.</p>

<p>I may email the FA officer who signed the letter,however, and ask how they arrived at the financials, just to make sure. I will be filling out the FAFSA next week as well.</p>

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<p>Agreed that NYU "can be" generous with MERIT aid (scholarships). What they are notoriously stingy with is need based aid. They do not guarantee to meet full NEED and therefore gap many students with need. If your student receives merit aid, that is an entirely different story with NYU.</p>

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<p>Responding to northeastmom's earlier post: Subsidized is offered if need remains. Take COA less EFC less all other aid awarded. If this is greater than 0, a sub loan is offered up to the amount left or the max for year in school (whichever is less). </p>

<p>Unsub eligibility: COA - all aid including sub loans. If this is greater than 0, an unsub loan is offered up to the amount left or the max sub/unsub amount - less any sub awarded - for year in school (whichever is less). </p>

<p>The school MUST offer the sub loan if there is unmet need. Some leave out the unsub if need is met, but the student can still borrow the unsub loan if he has eligibility.</p>

<p>For those wondering about Perkins loans: Schools were given funding for Perkins once upon a time, and they run the program themselves. They handle all the lending/collection themselves. There is no new Perkins funding, but schools offer Perkins loans because they use the repayment amounts to fund new loans. The money is supposed to go to the neediest. Where I work, that is 0 EFC only. At some schools that offered my D financial aid, the "poorest" have much higher EFCs (we were offered Perkins at a couple schools, and we are not rich/not poor).</p>

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Responding to northeastmom's earlier post: Subsidized is offered if need remains. Take COA less EFC less all other aid awarded. If this is greater than 0, a sub loan is offered up to the amount left or the max for year in school (whichever is less).

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<p>That is interesting kelsmom, but we were definitely not offered a subsidized loan at all schools my older son applied to and our need was definitely greater than 0. Does this rule apply to OOS public schools too? We had one public U that offered no merit aid, no FA, COA was 28k 3 years ago, and our efc was less than 28k. The FA offered was a joke. It said that we may apply for a plus loan up to full cost of the attendance, and my son was offered the unsubsidized stafford.</p>

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<p>You absolutely should have been offered a sub loan if you had remaining need. One possibility is that you/your child checked the FAFSA box that indicated you weren't interested in student loans. If that's checked, you might not be offered a loan ... some schools set up their computer system to NOT offer any loans if it's checked. However, if you requested the sub loan & had need, you WOULD receive it. Another thought, but less likely if this happened at more than one school, is that somehow the school messed up on the offer. Again, if you had need & requested a sub loan, you would still get it. Perkins, Work study & FSEOG are limited funds that the campus receives & distributes within federal guidelines. Stafford loans are <em>unlimited</em> in that there is no school funding that is used up ... everyone who is eligible will be able to borrow.</p>

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<p>fwiw, I have an EFC of 11+K and my son has gotten 2400 Perkins for 2 years now. It is interesting how each school can be so different with FA. I'm thinking that with the higher stafford limits they might eliminate it. But the COA keeps rising but my EFC isn't keeping pace dollar for dollar.</p>

<p>I tell you I hold my breath awaiting that aid letter each year.....</p>

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<p>kelsmom, thank you for the information. It is helpful to me for kiddo #2. I never checked a box that says that we are not interested in loans. We did get a partial unsubsidized Stafford at a school that had a COA that was 4k less. Neither school offered W/S or anything additional.</p>

<p>sueinphilly, I completely understand about holding your breath. I am sure that I will feel queezy as we open up all financial offers for kiddo #2. I keep telling myself that the worst case scenario is that he goes to community college for 2 years and transfers!</p>