What's with the "Financial Aid Award"?

<p>I logged on to my spire after I got the e-mail notifying me that my financial aid award was viewable on spire. It says that I have the possibility of getting $18,000 w/o work study, and including all loans. However, it keeps saying that these can be "subject to change", and it seems like a LOT more than my family was expecting, especially b/c I'm in-state and it would only cost $5,000 a year to go with the current FAA shown.</p>

<p>Any thoughts? Will these be changed? Are these the actual financial aid awards, or the total possible?</p>

<p>At one point you may be asked to verify the information in your FAFSA. If the most up to date information varies, your aid may be adjusted. I think they are just covering their bases. Probably wouldn’t worry. </p>

<p>I believe you also have to report any scholarships you receive. This could change your financial aid package as well. But I wouldn’t be worried. UMass has been very good to us in terms of financial aid - and offers an excellent education!</p>

<p>We are applying for scholarships from some other places to try to cover costs. We’re oos so the cost is 42, 000 aid is 26, 000 leaving us with a significant amount we can’t afford. If he gets scholarships does that mean they are going to turn around and take aid away essentially leaving us in the same predicament? ?</p>

<p>You would have to call the Financial Aid office to ask them this question. I just noticed the note at the bottom of my daughter’s financial aid package saying that any outside scholarships must be reported.</p>

<p>My son had a tiny grant his freshman year. He got outside scholarships. The grant was taken away and his “need” was met via his subsidized Stafford loan. Financial aid cannot exceed your Fafsa EFC. Merit from the university can, if I understand this correctly.</p>

<p>I called the financial aid office yesterday but all she said was it depends on how much. After some internet searching I think I get it. Lol :-/ It seems as long as the scholarships cover leftover expenses without getting into your efc you are ok. Once it starts covering your efc they will start taking away aid. </p>