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FAFSA award amount
Posted: Tue May 22, 2012 9:13 am
by beachy
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?
Re: FAFSA award amount
Posted: Tue May 22, 2012 9:31 am
by Kikero
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.
Re: FAFSA award amount
Posted: Tue May 22, 2012 9:42 am
by beachy
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!