Breaking down a Financial Aid Award Letter

Scholarships, grants, loans, work-study - what does it all mean? In this video, I'll walk you through everything you need to know.
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The FAFSA Guru has spent 30+ years working in higher education, helping thousands of students find the financial aid they need to make college a reality. She knows exactly what you need to do to maximize your funding and minimize your debt.
To learn more about the programs and services The FAFSA Guru provides, visit www.thefafsaguru.com

[@zaferpamukcu1500]

Hello Tina, I really appreciate you sparing time to answer all the questions. Forgive my ignorance if I that sounds stupid; Do you have to enroll to the school you have been accepted in order to request to appeal or to reconsider the award amount notified? Since i have to enroll to the school with maximum scholarship. Thanks,

[@TheFAFSAGuru]

You just have to be admitted into the college but don't have to be enrolled into classes.

[@bunnyxsoap]

Do you get to choose which loan/grant you get to use for payment

[@TheFAFSAGuru]

you don't choose grants, as they are awarded based on financial need....you always should choose your direct loans first, they are not based on credit and have the best terms....but as far as paying for any gap, yes you can choose which types of loans to borrow and there are a number of alternative loans along with a parent PLUS loan to choose from

[@maritzamacedo6450]

So my out-of-pocket after financial aid is $0 but under student loans it says $40,743. Could you explain to me what that means? So will I still have to take out a loan?

[@TheFAFSAGuru]

It sounds like they are telling you you are eligible for loans... are there any grants or scholarships listed?

[@mrssunshine6959]

Hello, If you receive any type of worksource grants and they pay before any pell grant, what happens to your financial aid grant? Is it lowered?

[@TheFAFSAGuru]

Mrs Sunshine That would only happen if all of your unmet need was met by financial aid from the school. Unmet need is total cost of attendance minus EFC. If you’re need based aid exceeds that amount than any outside scholarships and grants would cause some of that to be reduced.

[@trangbui4034]

Hello, I'm new incoming freshman. My EFC is zero but my university only offers me Pell grant, unsubsidized loans and subsidized loans which total is around 11 thousands. And COA is about 22 thousands. I don't know how to cover the rest of it.

[@dashkosty6006]

apply to a school that covers 100% of need

[@Godfirst986]

Hey, I'm 18 I got a TN promise scholarship of 24,575. The community college I go to is 4k each semester. I signed up for fall semester and spring semester. How much will I get back?

[@TheFAFSAGuru]

Contact the financial aid office directly and they can help you with that

[@angelgal1294]

Do you have to be in Collage to receive Fasfa?... I need personal-Grants im hurting right now if anyone watches my video,...

[@TheFAFSAGuru]

yes you need to be admitted into a degree granting program in order to be eligible for FAFSA

[@brittneyfoley21]

Does everyone get a disbursement for personal money after FAFSA and free college(paid by my job) ? Its a degree program not very expensive but I know the amount of financial aid I was eligible for was for the full 6400$ and my job paid for whatever that didn't pay for but I think i got a list of the costs & fees of the program it said 1600$ wouldn't I get a good personal disbursement?

[@TheFAFSAGuru]

You would get a refund check if there ends up being a credit on your account after tuition and fees are paid and financial aid is applied

[@legitprods4719]

1 question my grant was 6,456 will that all go into my tuition and room and board? or can I use that money for anything else ? Can I decide what I wanna use it on ?

[@TheFAFSAGuru]

It will go towards your tuition, room and board first...then other financial aid will come in after

[@kimberlywhite8399]

Hello, I'm very worried that I won't get a refund check. I'm a grad student and they say I'm eligible to receive $20,500, I don't have a job so I can't contribute to my education, and my tuition says $6,107, how much will I get back?

[@TheFAFSAGuru]

Hi There, you can borrow up to a total of $20,500 as long as you are enrolled FT and half will be applied to your account in the fall and half in the spring, so if you total cost of atttendance including all fees etc is about $3k per semester, that would be about $7k back each semester in a refund check after loan fees are applied.

[@kimberlywhite8399]

@@TheFAFSAGuru but it’s $6k for only the fall semester and is that for every semester?

[@peterngo1182]

Hello I'm 24.My income is about 5k - 7k this year, So Can I recieve a financial aid?Plz Thank

[@francisjuarez7342]

I got awarded my financial aid I got zero!! my efc was at 8,000 therefore I did not get any thing beside student loan so sad..... why I feel like I deserve some kind of grant i only get payed minimum wage!! but working full time I feel I filled out my fafsa wrongfully

[@TheFAFSAGuru]

your EFC can be up to 1/3 of your annual income. You can always file an appeal and ask the financial aid office for more aid.

[@gamingwithgraciemae]

How do I pay my tuition with my aid? Homeschooled senior here so I am freaking out

[@TheFAFSAGuru]

the government sends the aid to your school once it is all processed

[@vanessaroque4476]

My son is 17 and will graduate (turning 18 after his enrollment in Fall semester). Will he be offered a subsidized or unsubsidized loan at that age without a co-signer requirement. I am not willing to get a Federal Plus Loan.

[@TheFAFSAGuru]

Vanessa Roque direct sub and Unsub loans are not based on Credit so yes he will be offered one. However the max he can borrow for first year is $5500. Second year $6500 and third tear and beyond $7500.