<p>ok so I got my package today and basically I got a total of about 46000 in grants and scholarships. There is an offer of 3000 sub loan and 2500 unsub loans. There is also about 2500 in work study. It doesn't say how much parents contribution is so does it mean there is none? also, can loans be used for housing and food? what kind of jobs are usually work study and how long do students usually work?</p>
<p>it depends on the cost of the school. Is the COA covered completely by your grants, scholarships, and the sub/ unsub loans.</p>
<p>coa is 56k</p>
<p>in that case </p>
<p>COA – 56K
Grants/ Scholarships – 46K</p>
<p>So at that point you are left with 10K to cover.</p>
<p>If you chose to take the loans that will be $5500 per year of the 10K covered by loans (which you will need to pay back).</p>
<p>That leaves $4500 that still needs to be covered to meet this schools COA.</p>
<p>Your $2500 work study will likely cover some of this… Work Study is really used for personal expenses, sometimes books, etc… because you do not get the money until the work the hours. </p>
<p>If you list your information by the categories below (thanks M2!). Those on CC truly knowledgeable about financial aid will be better able to assist you. </p>
<p>Often there are ways to reduce some of the personal expenses, travel costs, etc… which would bring down the COA a bit… although the direct billable costs to the university often cannot be brought down (unless there are housing and meal plan options that are less expensive than others).</p>
<p>COA breakdown for the school</p>
<p>Tuition/fees
room
board
books
travel
Personal</p>
<p>Breakdown of aid.</p>
<p>Grants (including Pell)
merit scholarship(s)
loans
work-study</p>
<p>Ps. The Stafford loan amount you can borrow will go up slightly each year, reaching a maximum of 7500 per year of loan eligibility when you are a senior.</p>
<p>If you have several different packages to compare, you can use this calculator: [FinAid</a> | Calculators | Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Award Letter Requirements - Finaid) It will let you see all of the offers side-by-side.</p>