RE: college costs

[Robert <http://dummy.us.eu.org/robert>]

 > From: Robert <http://dummy.us.eu.org/robert>
 > Date: Thu, 29 May 2014 11:33:48 -0700
 >
 > How does the FAFSA aid work?

I see from http://en.wikipedia.org/wiki/FAFSA#Types_of_financial_aid that
there are grants and loans.

 > Do you first report your income and savings,
 > apply for FAFSA,

So, I'll refine my question: do you apply for grants first, and then any
shortfalls using student loans?

 > and then make up the difference with student loans?  Can
 > you apply for FAFSA and then make up the difference with loans from family
 > members?  Or, does that invalidate the FAFSA aid?

Given a grant shortfalls, do you either get a choice of federally-backed
student loans, or help from family members, but not both?

 >  > From: ", Flora" <http://www.state.vt.us/~Flora.>
 >  > Date: Thu, 29 May 2014 18:21:14 +0000
 >  >
 >  > Our out of pocket expenses for this school year for both Nick and Xander are 
 >  > going to be just about $51,000. The $51,000 is based on estimated amounts for 
 >  > tuition, fees, books, and room and board that we were given. I won't know for 
 >  > sure until I see the bill. This amount includes all scholarships and grants 
 >  > that we do not have to pay back.
 >  > 
 >  > It is ending up that Nick's costs will be lower than Xander's. Even though Nick 
 >  > is going to a private school, his financial aid package is better (I contacted 
 >  > Green Mountain College at the end of April to see if they would reevaluate Nick'
 >  > s financial aid package and they gave Nick another $7,000 in scholarships (
 >  > after I sent them a copy of Sterling College's financial award letter.)
 >  > 
 >  > I think that I start finding out about how to apply for VSAC (state) loans next 
 >  > week. I'm not sure about the other loans (federal). I will need to look into 
 >  > that.
 >  > 
 >  > I do know that we have to report all money from all sources on the FAFSA that 
 >  > we will have to do for the next three years (every January 1st). This means 
 >  > that if family members helps with college, we must report it. 
 >  > 
 >  > I have $18,000 that I have saved, but clearly that is not enough for this year, 
 >  > let alone the years after that.
 >  > 
 >  > What do you think? 
 >  > 
 >  > -----Original Message-----
 >  > From: Robert [http://dummy.us.eu.org/robert] 
 >  > Sent: Thursday, May 29, 2014 1:11 PM
 >  > To: , Flora
 >  > Cc: http://www.gmail.com/~flora; Noelle; http://profiles.yahoo.com/flora
 >  > Subject: college costs
 >  > 
 >  > To: ", Flora" <http://www.state.vt.us/~Flora.>
 >  > 
 >  > Flora - Noelle told me that I should touch base with you about student loans 
 >  > and so on.
 >  > 
 >  > Do you have any ideas how much the principal and on-going college costs will be 
 >  > for Alex and Nicholas?
 >  > 
 >  >  > From: http://dummy.us.eu.org/robert (Robert)  > Date: Thu, 03 Apr 2014 10:04:12 
 >  >  > -0700  > Subject: RE: summer internships  >  > I suspect that Alex will end 
 >  >  > up graduating with debt.  Luckily, interest  > rates are low right now.  One 
 >  >  > hopes that the job market will be in better  > shape by the time he 
 >  >  > graduates.
 >  >  >
 >  >  > Maybe Bernie Sanders will become president and there will be student loan  > 
 >  >  > reform.
 >  >  >
 >  >  >  > From: ", Flora" <http://www.state.vt.us/~Flora.>  >  > Date: Thu, 3 Apr 
 >  >  >  > 2014 16:00:39 +0000  >  >  >  > Yes, I heard it this morning. I am very 
 >  >  >  > stressed at looking at the financial  >  > award letters. I thought that 
 >  >  >  > we would have more of a break because of our  >  > income. Sterling 
 >  >  >  > College (the school at Nick applied to and has been accepted  >  > to) 
 >  >  >  > seems to have a better financial aid package. Perhaps it is better the  > 
 >  >  >  >  > first year and will change in subsequent years. I have not yet seen 
 >  >  >  > UMASS  >  > Amherst's financial aid package (where Xander wants to go).
 >  >  >  >
 >  >  >  > It definitely is a shock seeing the cost that we must pay. Just like was  
 >  >  >  > >  > discussed on NPR, the letters are deceiving. It makes it seem like 
 >  >  >  > all of the  >  > costs are paid for, when in fact that most of it is 
 >  >  >  > loans or unmet need. They  >  > have both applied for scholarships, but 
 >  >  >  > we haven't heard anything yet. 
 >  >  >  >
 >  >  >  > -----Original Message-----
 >  >  >  > From: Noelle [http://dummy.us.eu.org/noelleg]
 >  >  >  > Sent: Thursday, April 03, 2014 10:59 AM  >  > To: Robert  >  > Cc: 
 >  >  >  > , Flora; http://www.gmail.com/~flora; http://www.gmail.com/~alex.;  >  > 
 >  >  >  > http://profiles.yahoo.com/flora  >  > Subject: RE: summer internships  >  >  >  > 
 >  >  >  > did you hear this?
 >  >  >  >
 >  >  >  > 
 >  >  >  > http://www.npr.org/2014/04/03/298330444/first-test-for-college-hopefuls-decoding-financial-aid-letters
 >  >  >  > 
 >  >  >  >
 >  >  >  > glad my grandparents left me some $ for college expenses NG