TheOcho wrote:Did anyone else get their financial aid award yet? I'm pretty sure mine is at least 15k more than what I'll need. Anyone else have similar results?
If you get a small scholarship, does that reduce the amount you can take it in loans? I'm a bit worried that my financial aid award will make it difficult to buy groceries.
This is how financial aid looked for me with my small scholly: They took the total cost of attendance for the year as listed here http://www.utexas.edu/law/finaid/costs/
which is 47,712 for in state. This includes tuition PLUS room, board, supplies, and transportation. Then they subtracted my small scholly ($7000/yr) to equal 40,712. Then they took out whatever the expected family contribution would be. In my case, that amount is $0.00 because I'm a single mom. Then, they divided that amount by two and came up with this amount per semester that I would need: $20356. The financial aid package included subsidized, unsubsidized, and grad plus loans to cover the full amount for each semester should I choose to accept all the loans. I'm assuming that if any grant $$ is released by the school (which may or may not happen), then those qualifying for need-based aid would get that money in lieu of some of the loan money.
I'm sure someone will let me know if I'm wrong on any of that.