Financial Aid

October 11, 2007, 6:12 AM

Anyone out there who's in college and received financial aid?

Two reasons for this:

1.) I want to find out if it's actually true that a majority of the kids in universities received some form of financial aid (grants, loans, scholarships)

2.) I need to find out how much is actually possible that you get...I think it depends on state and need, but just how much you receive escapes me.

October 11, 2007, 6:46 AM

Quote:

Originally Posted by Jeremiah

1.) I want to find out if it's actually true that a majority of the kids in universities received some form of financial aid (grants, loans, scholarships)

Yes and no. Depends on your state. NY state gives out Financial Aid such as Tap, Pell grants, and a couple others. (Forgot) Also it depends on your income and the state wants proof such as tax return papers.

http://www.salliemae.com/ They're pretty good.

As for scholarships....it all depends. Some schools can give them out because it depends on what country your from, what nationality you are, your health condition etc.

Quote:

Originally Posted by Jeremiah

2.) I need to find out how much is actually possible that you get...I think it depends on state and need, but just how much you receive escapes me.

One thing I will say, try to avoid loans from banks. They tend to give you a higher interest rate. Which is why I gave you the link to Sallie Mae.

It really all depends on how much you want to take and how expensive the school is.

October 11, 2007, 7:03 AM

It's been a while, but I do remember getting a onetime Pell Grant... I think it was $5,000 which is not much in the long run and a $1,000 onetime grant from the State of Illinois.

Scholarships... Meh, I never qualified nor had the GPA to attain one, so I can't offer much insight here.

Now, as for Federal Student Loans, it all depends on how much income your parents bring home in one year. For the most part, it's very hard to qualify for 100% tuition coverage. Again, your legal guardian's gross income is counted regardless of their monthly/yearly expenses.

A regular "Bank" Student Loan... will lend up to 100% of the yearly tuition based on credit score and income.

However, given you ethnic background, it will qualify you for more programs then what's typically available. My best advice would be contacting and making an appointment with a guidance consoler from where you'll be attending, if that's not option, then you should have someone at your high school who can step you in the right direction...