volp wrote: jselson wrote:
volp wrote:so idk if this is dumb but
what's the average hls financial aid package? what does a really good one look like?
A good one is half, and it means you (and your parents) are poor or over 29 without much savings/assets. A great one is full, and it means you're older with a family and kids. Average is closer to 10k a year, more or less.
half of the $78,000 tuition (incl room and board)? so a 'full' is $78,000?
The maximum grant is the difference between your student budget ($78000ish) and the base loan ($43100 <--- made up of federal and HLS loans). For example, the most needy of us would get close to $35k if the default student budget was used ($78k - $43k) and we weren't expected to contribute anything towards the budget. However, if they determine that you're able to contribute something, that grant amount would be lowered by the amount they expect you to pay.
Whenever people get grants that cover the full tuition or close ($50000ish), it's because their student budget was increased from $78k for various reasons. For example, someone with a wife and child may get an adjusted student budget of $95k. After deducting the base loan, we're left with roughly $52k. If that person is not deemed to be able to make a financial contribution towards the cost of attendance (because of no assets/savings, etc), then they'd prob get a grant of around $50-52k. IIRC, that's the only way people can get full tuition grants. In other words, on a regular student budget of $78k, it's not possible to get more than $35k because you are required to take the base loan as a condition of accepting grants.
tl;dr: Your grant is the difference between your student budget (normally around $78k) and the base loan ($43k). If they don't think you can pay anything, you should get the full difference or close (around $30-35k), and it's entirely need based.