potentially dumb question

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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goosey
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potentially dumb question

Postby goosey » Wed Mar 24, 2010 11:12 pm

is the need-based aid given by the school different than the financial aid given by the government? I am not sure how fafsa works for grad students, but does it basically just set you up with a financial aid package that is composed of loans or do they offer grants like they did in undergrad as well?

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Na_Swatch
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Re: potentially dumb question

Postby Na_Swatch » Wed Mar 24, 2010 11:13 pm

goosey wrote:is the need-based aid given by the school different than the financial aid given by the government? I am not sure how fafsa works for grad students, but does it basically just set you up with a financial aid package that is composed of loans or do they offer grants like they did in undergrad as well?


Almost everyone gets 0 contribution from their FAFSA, setting them up for government loans (Subsidized Stafford and Unsubsidized). No grants from the government though.

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goosey
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Re: potentially dumb question

Postby goosey » Wed Mar 24, 2010 11:14 pm

Na_Swatch wrote:
goosey wrote:is the need-based aid given by the school different than the financial aid given by the government? I am not sure how fafsa works for grad students, but does it basically just set you up with a financial aid package that is composed of loans or do they offer grants like they did in undergrad as well?


Almost everyone gets 0 contribution from their FAFSA, setting them up for government loans (Subsidized Stafford and Unsubsidized). No grants from the government though.



so the only free money one can count on is from the school itself? or outside scholarships

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Na_Swatch
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Re: potentially dumb question

Postby Na_Swatch » Wed Mar 24, 2010 11:14 pm

goosey wrote:
Na_Swatch wrote:
goosey wrote:is the need-based aid given by the school different than the financial aid given by the government? I am not sure how fafsa works for grad students, but does it basically just set you up with a financial aid package that is composed of loans or do they offer grants like they did in undergrad as well?


Almost everyone gets 0 contribution from their FAFSA, setting them up for government loans (Subsidized Stafford and Unsubsidized). No grants from the government though.



so the only free money one can count on is from the school itself? or outside scholarships


yep. Although in a sense subsidized loans are free money, just not a lot of it.

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goosey
Posts: 1543
Joined: Tue Aug 19, 2008 11:48 pm

Re: potentially dumb question

Postby goosey » Wed Mar 24, 2010 11:15 pm

Na_Swatch wrote:
goosey wrote:
Na_Swatch wrote:
goosey wrote:is the need-based aid given by the school different than the financial aid given by the government? I am not sure how fafsa works for grad students, but does it basically just set you up with a financial aid package that is composed of loans or do they offer grants like they did in undergrad as well?


Almost everyone gets 0 contribution from their FAFSA, setting them up for government loans (Subsidized Stafford and Unsubsidized). No grants from the government though.



so the only free money one can count on is from the school itself? or outside scholarships


yep. Although in a sense subsidized loans are free money, just not a lot of it.



got it. thanks!




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