College grants/financial aid

[pontifex]

Is there a site that I can go to to see what kind of grants or financial aid I can receive for college?

Not sure if any of this info helps - I'm not enrolled anywhere yet, I'm 27, single, work full time, don't own my own place, make $33k a year before taxes. Not sure what other pertinent info may be needed.

 

[tfinch2]

FAFSA

 

[2Xtreme21]

Yeah you need to fill out the FAFSA and turn it into your school's financial aid office. They will determine what you are eligible to receive.

 

[SOSTrooper]

You can't see what you can get right away, you usually have to wait a few months to get an answer. It also depends on what school you will go to. A community college will yield you a lot less money, while a 4 year university will yield more. But if you make $33K and that was on your last tax forms, then you may not receive the full amount; you might have to subsidize a small amount. Though I don't know what the cut off point is for independent single person income for aid priority.

 

[sciencewhiz]

The result of your FAFSA is your EFC (Expected Family Contribution), which is how much you are expected to pay for college. It's unlikely that you will get scholarships or subsidized loans for more then the cost of college minus your EFC.

 

[duragezic]

Friends of mine who were independent got decent financial aid packages in the form of grants, loans, and scholarships. The Pell Grant was one particular one they especially liked. Their financial aid packages covered most or all of the expected cost of school for a year (about $20k) since their EFC was basically zero. But keep in mind a lot of that will still be loans. It's not uncommon to rack up $50,000+ in loans just at a state school, even with a good amount of grants and scholarships.

Fill out the FAFSA by the federal AND state priority deadlines, and any forms from your school by the deadlines to get the most amount of aid. Note that the FAFSA deadlines are long past for 2007-2008 year; I think the priority deadline was March 1, 2007.

If you plan to go to college, better do it now then wait a few years. I say that because tuition has and will go up without fail roughly 10% per year. Combined with increases in other costs like room & board and fees, I'd estimate the total cost this year is about $1,500 more than the year before it, and same with the previous years.


With regards to how could you ever afford such a thing, one of the best options is to spend a year or more at a community college. The CC I went to for 1yr was ridiculously cheap (relatively) and my transfer of credits that I figured out by myself was near 100% towards my degree. Though obviously talk to advisors about this to make sure you do it right.


For more specifics on financial aid, check your state's education website and look for sections about 'Funding for college'. I know I got two good PDFs from mine that laid out pretty much all the federal and state aid available.

 

[Jeff7]

Since you're in Pennsylvania, you may also be eligible for a PHEAA grant. But to get that, you need to fill out the FAFSA first.

Originally posted by: sciencewhiz
The result of your FAFSA is your EFC (Expected Family Contribution), which is how much you are expected to pay for college. It's unlikely that you will get scholarships or subsidized loans for more then the cost of college minus your EFC.

I think the EFC isn't actually the dollar amount they expect you to pay, but it is used to determine that.
From FAFSA's FAQ section:

"I have my EFC. How much money will I receive?
The financial aid office at your school will use your Expected Family Contribution (EFC) and other information to determine the amount of financial aid for which you are eligible to receive. A financial aid award is determined by each school based on your eligibility and the cost of attendance for the program you are enrolled."

"Your EFC is not the amount that your family will have to pay for college nor is it the amount of federal student aid that you will receive. It is a number used by the school to calculate the amount that your family will be expected to pay for college and the amount of federal student aid you are eligible to receive."

 

[pontifex]

so there's no way i can find out what i would be eligible for before i actually enroll?

 

[sjwaste]

Keep in mind the school starts with the total cost of education: Tuition, books, rent, health insurance, etc. They subtract the EFC and that's what they're willing to loan you.

Unless you have a ton of savings, a 33k salary will give you a low EFC. At the least, I'd expect your eligibility to cover tuition and some living expenses. You don't need to enroll to do the FAFSA. It'll ask for a list of schools that need to get the report, put all of those that you might attend. Then if you enroll, the school will act on it.

That's how it worked back in 2000 when I went away to undergrad. I didnt even submit my seat deposit until April, but my FAFSA went in in Jan to all schools that I was accepted.

 

[sciencewhiz]

The process goes The application to the college and the FAFSA may occur in parallel. Then they will accept you, then later they will give you a financial aid offer, and finally, you would enroll.

 

[pontifex]

Originally posted by: sjwaste
Keep in mind the school starts with the total cost of education: Tuition, books, rent, health insurance, etc. They subtract the EFC and that's what they're willing to loan you.

Unless you have a ton of savings, a 33k salary will give you a low EFC. At the least, I'd expect your eligibility to cover tuition and some living expenses. You don't need to enroll to do the FAFSA. It'll ask for a list of schools that need to get the report, put all of those that you might attend. Then if you enroll, the school will act on it.

That's how it worked back in 2000 when I went away to undergrad. I didnt even submit my seat deposit until April, but my FAFSA went in in Jan to all schools that I was accepted.

I'll be going to a CC for as much as I can to keep costs down. I'll only be going part time also. So all I need to worry about is tuition and books.