Understanding the offer

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
Zooey
Posts: 20
Joined: Thu Oct 28, 2010 1:04 pm

Understanding the offer

Postby Zooey » Thu Jun 30, 2011 12:19 pm

A school has offered a combined package of $70K per year, which includes grants, Subsidized, Unsubsidized, and Grad Plus. Considering tuition is $45k, that leaves $25K per year for living expenses, not very much for a family.

Would they offer more if asked?
Last edited by Zooey on Fri Jul 22, 2011 10:55 am, edited 1 time in total.

berkeleykel06
Posts: 292
Joined: Thu Mar 11, 2010 3:39 am

Re: Understanding the offer

Postby berkeleykel06 » Thu Jun 30, 2011 12:32 pm

Students with children can generally get an increase in the amount they can borrow through gradplus for COL, but I would expect they'd have to go through some sort of a petition process. Have you discussed this with your school's fin aid office to make sure you are getting more than the standard amount that a single student would get?

Another thing to keep in mind is that the COL loans are supposed to cover your expenses during the school year only, not the summer. Unfortunately this is unrealistic because so many 1Ls have unpaid summer jobs, but it is nevertheless one reason why the COL loans may seem smaller than you'd desire.

CanadianWolf
Posts: 10439
Joined: Wed Mar 24, 2010 4:54 pm

Re: Understanding the offer

Postby CanadianWolf » Thu Jun 30, 2011 1:09 pm

Contact the school's financial aid officer for answers & options.




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