FAFSA award amount

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
beachy
Posts: 48
Joined: Mon Feb 20, 2012 6:59 pm

FAFSA award amount

Postby beachy » Tue May 22, 2012 9:13 am

I filed FAFSA and am eligible for 20,500 in federal loans. I paid my seat deposit for a school I thought i was going to and they accepted the full 20,500. However, I changed my mind and am now going to a school Id previously been waitlisted for (and have received no financial aid info for yet)...

Do schools always approve the full amount that FAFSA has approved you for?

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Kikero
Posts: 1208
Joined: Mon Mar 01, 2010 12:28 am

Re: FAFSA award amount

Postby Kikero » Tue May 22, 2012 9:31 am

beachy wrote:I filed FAFSA and am eligible for 20,500 in federal loans. I paid my seat deposit for a school I thought i was going to and they accepted the full 20,500. However, I changed my mind and am now going to a school Id previously been waitlisted for (and have received no financial aid info for yet)...

Do schools always approve the full amount that FAFSA has approved you for?


I believe it's capped at cost of attendance (which varies school to school). Since you are switching to a school that you were waitlisted at, I assume you aren't getting a ton of scholarship money, so they should offer you the full amount.

beachy
Posts: 48
Joined: Mon Feb 20, 2012 6:59 pm

Re: FAFSA award amount

Postby beachy » Tue May 22, 2012 9:42 am

Kikero wrote:
beachy wrote:I filed FAFSA and am eligible for 20,500 in federal loans. I paid my seat deposit for a school I thought i was going to and they accepted the full 20,500. However, I changed my mind and am now going to a school Id previously been waitlisted for (and have received no financial aid info for yet)...

Do schools always approve the full amount that FAFSA has approved you for?


I believe it's capped at cost of attendance (which varies school to school). Since you are switching to a school that you were waitlisted at, I assume you aren't getting a ton of scholarship money, so they should offer you the full amount.


No scholarship, but the COA is around 19-20K so Im hoping youre right. Thanks!




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