<p>So, I'm a little upset, as I just found something out regarding financial aid. I recently received a 40,000 tuition scholarship from a "good" school. With federal grants, and an institutional grant, I thought - Wow, I have a full ride! HA. Guess not. Along with the "our school meets 100% demonstrated need," they forgot to mention there is a MINIMUM amount students have to pay. This is the case even if your family has no source of income!! (My family does have a source of income, but speaking in general terms) Can you believe that? I know the "minimum" amount isn't a great amount (it's $4,000/yr) I think they should tell you this ahead of time. That is absolutely ridiculous.</p>
<p>no source of income?
you should be entitled to college.</p>
<p>Calm down :)</p>
<p>This may just be the amount that they expect students to spend on personal expenses and travel. It’s reasonable to expect some kind of student contribution.</p>
<p>The COA is probably much higher than the $40k scholarship and the fed aid you’re being given. COA usually includes travel and personal expenses.</p>
<p>So, they expect that the rest of the COA will be covered by some small contribution from you. That’s hardly too much to expect. Frankly, I think it’s a bit nutty for a school not expect a student to contribute some small amount towards his personal costs. (Do you really think the school should pay for your deodorant and toothpaste?)</p>
<p>What school is this and what it the breakdown of its Cost of Attendance?</p>
<p>I am calm, I just can’t believe they don’t inform students about this ahead of time. I don’t agree they just fund other needs like that, but they should let students know they have a minimum amount they expect students to pay. </p>
<p>Estimated tuition and fees:
$40,282
Estimated room:
7,050
Estimated board:
4,590
Total Direct Costs:
$51,922
Indirect Costs
Estimated Books, Supplies & Misc.
$2,808
TOTAL ESTIMATED COST OF ATTENDANCE:
$54,730</p>
<p>“no source of income?
you should be entitled to college.”</p>
<p>I certainly hope this was meant to be a joke! College is a privilige and a college education that one acquires virtually free is an even greater privilige. And to the op, $4000/yr is a nominal amount to pay for a college education. Students are expected to have some “skin in the game”. There are work study programs at school that help you to meet you contribution, as well as summer work. By the way, student contribution is indeed a component of most financial aid packages.</p>
<p>I’m very confused. You received a $40,000 tuition scholarship from the school with an estimated cost of attendance of over $54,000 per year. That means you have to cover $14,000 per year, well in excess of $4,000 per year. I must not be thinking of this right. What am I missing?</p>
<p>You say that this is a school that meets 100% of demonstrated need. Well, what did they determine to be your “need”? </p>
<p>Is this a CSS Profile school? What was your FAFSA EFC? Is there a non-custodial parent’s income being considered?</p>
<p>Pea is right, what about the $14k?</p>
<p>I’m interested in what school this is. Usually when a school says they meet 100% demonstrated need, it is the CoA minus your EFC.</p>
<p>It’s not 14K. OP said, 40K scholarship + Fed & Institutional grants. So the Fed & Intstitutional grants must be around 10K.</p>
<p>What exactly does your FA package say…give details…</p>
<p>Any travel in that COA?</p>
<p>Now that I’ve had time to think about it I think the OP is upset about the student contribution in her financial aid package.</p>
<p>
</p>
<p>This statement is quite misleading. They do not expect a minimum contribution from all students, they expect a minimum contribution from all students receiving financial aid. That is not the same thing.</p>
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</p>
<p>Your family’s source of income would not be considered in this contribution because it is supposed to come from you through a summer job and work study.</p>
<p>I don’t think they needed to make sure you were aware of this ahead of time, as fishymom said at any school it is quite standard for a portion of a financial aid package to include a student contribution. It would be more unusual for a financial aid package to not include this. They will provide you with work study opportunities to help you meet it. These are jobs that students who are not receiving financial aid won’t have access to.</p>
<p>The OP probably has an EFC above 0. Students receiving “100% demonstrated need” that have a low EFC, but no 0, are expected to cover that amount. I’m sure of it.</p>
<p>UNC agrees to cover 100% demonstrated need as well, but you have to cover your EFC. I think that’s typically pretty low, because your AGI has be 200% of the Federal Poverty Guidelines for the year before. $4,000 is pretty low, so I’m guessing this is it. Nothing to frown at, either. (UNC covers T/F, R/B, Travel, and some personals).</p>
<p>Do we know what school this is and what the family’s EFC is? If this is a CSS school, then the family’s expected contribution may be higher.</p>
<p>I think the OP is referring to Vanderbilt.</p>
<p>Oh my goodness. OP many, many of these colleges that basically fund students who are poor expect a small contribution from the student. You may be able to trim your budget a couple thousand from the amount they budget for transportation/books/spending money and you absolutely most certainly can earn $1500 or more from a part-time job, if you are industrious you can probably figure out a way to earn the entire $4,000…the assumption of the school being that you will work abit for your discounted tuition/room & board, etc. So yes, it’s nothing to frown about and it’s certainly not something to whine about. Finally, if you read the fine print this is disclosed for many of the no loan, meets need schools (that there is a small student contribution expected).</p>
<p>This is what I don’t get…</p>
<p>The student received a $40k scholarship. He estimated that with Fed grants and such, he’ll have a “free ride.” </p>
<p>So, what is he upset over? It sounds like the $4k is additional money to go for misc expenses. Doesn’t he still get the $40k + fed aid that made him think he’s getting all his costs covered?</p>
<p>What am I missing?</p>
<p>Nothing, hahaha. Shoot, I wish I could get out of school for what? Maybe like $10K under? </p>
<p>Jealous. :)</p>
<p>The student contribution can always come from a Stafford loan … it’s the idea that the student needs to make some attempt to help him/herself.</p>
<p>Man Can my kid have OP’s situation? A summer job, a little work study, a few nickels saved here and there – he could come up with $4K. If $4K a year was all it took to get a college degree, I’d be turning hand springs.</p>
<p>I still don’t understand what the deal is.</p>
<p>The OP himself said that his scholarship and grants give him a full-ride. So, this $4,000 isn’t going towards any billable expenses. Therefore, it’s really his choice whether to come up with it. It’s not needed for the college.</p>
<p>The problem is that the school is requiring him to fund her own pizza, Big Macs and beer, possibly even his visits home and she thinks that’s just grossly unfair.</p>