Question about Financial Aid (FAFSA)?
Does FAFSA give you more money if you go to a university vs. a jr college? or does the amount of money you receive depend on how much your income is
- PETALv 71 decade agoFavorite Answer
After you do your FAFSA you will not get a letter saying this is the amount of aid you qualify for and get and then you pick what school you want to go to and whatever is left over after charges you keep. That would be nice but it does not work out that way.
You put on the FAFSA the colleges of your choice you may be interested in. Then when you apply to those colleges they ask you if you are going to stay on campus in a dorm or not, if you are instate or outof state, etc.
So the college will take that information and come up with a financial aid award for you. So if you say you wont be living on campus well then they wont offer you aid to cover that because you wont need it. If you choose a Jr. College then they will give what you qualify for for that cost of attendance.
The government does not want to overpay all the students or it wont have enough to offer aid for everyone so they offer aid what you need. Now your parent can take out a parent loan or private loan for extra money but they will have to pay that back plus interest so that is not a good idea.
The amount you get for financial aid is based on the information on the FAFSA which includes yours and your parents financial information. If your parents make a lot of money then they are expected to be able to pay for some of your college. They give you financial aid based on how much you need it. If your parents make a lot of money then you should not need a lot. So they take your FAFSA info and come up with your EFC, estimated family contribution, or the amount your family should be able to pay for your college. So the lower your EFC the more aid you will get. They put this EFC in a SAR, student aid report, which you will be notified is ready 2-3 weeks after filing if yhou did it online. You can view this on the FAFSA home page #3. http://www.fafsa.ed.gov/
Then the govt sends this SAR to all the colleges you listed on the FAFSA and then those colleges will award you financial aid that you qualify for and need for that college. You choose which college you want and you accept each aid, grant and loan you want.
- 1 decade ago
The amount of money you receive is based on your income and the schools you choose to go to. If you choose to go to a Community College your scholarship comes from either the school or the govt. and they will pay for that Colleges tuiton. Same if you choose a University. The amount doesnt change because you chose a 4 year school over a 2 year school. You may get more money, but it all goes to tuition and books.
- MeoLv 61 decade ago
The amount of financial aid you are eligible to receive depends on your income, cost of tuition per year, your enrollment status (full-time, part-time, etc.)