If my FAFSA report says my "expected contribution" is zero - what does that mean ? Will all of my tuition, fees and books be covered by a grant or does that mean I qualify for loans that I will eventually have to pay back? I took 2 semesters right after high school but it's been about 14 years and I have no idea what I am doing. Thanks for any help.
2006-10-15 06:47:55 · 6 answers · asked by Tammy P 2 in Education & Reference ➔ Financial Aid
Financial Aid eligibility is income based. So, the FAFSA determines what your eligible anticipated expenses are and then looks at your income to determine what portion you can be expected to be able to cover yourself. In this case, they have determined that your income allows you to have all of your eligible expenses covered. You should soon be provided with a list of items for which you qualify and the amounts. A portion will likely be grants and a larger portion govt loans. You then sign for which you wish to accept.
Be VERY careful of the loans, student loans are not like credit card debt, they never ever go away and the govt controls them. The laws regulating student loans are very different than other loans. If you must take them, take only what you absolutely need because a degree does not guarantee a high salary, and you can plan on paying back 3-times what you take out.
Also, have you gone for scholarships yet? Often times the financial aid office at a school is not the same as the scholarship office and you must apply at both. So make sure you have applied at the scholarship office as well. Get books from the library and go online, find every possible scholarship and apply for it. If you are a non-traditional student, returning after 10-years absence, there are lots of scholarships just for this. Good luck!
2006-10-16 11:40:53 · answer #1 · answered by nativeAZ 5 · 0⤊ 0⤋
When it comes to FAFSA, the lower your expected contribution is, the higher your chances are of qualifying for grants to cover tuition. This doesn't mean that all of your expenses will be covered by grants, so you may have to take some loans to cover some of the cost. With an expected contribution of 0, you shouldn't have to worry about any out-of-pocket costs though... at least not until you graduate
2006-10-15 14:00:13 · answer #2 · answered by The Capital L 2 · 1⤊ 0⤋
You shouldnt have to pay anything...
Financial aid factors in a ton of factors...Whaty you need to know is the reward amount, and how much tuition, lab fees, general fess, books are etc. Subtract. This is the actual amount you will have left to pay or how much you get back. Call the Fin aid office and they should help you.
2006-10-18 00:30:26 · answer #3 · answered by darkstar32822 3 · 0⤊ 0⤋
http://www.salliemae.com ( For student loans)!!!!
http://www.iefa.org -------> International Students on the web <----
http://www.about.com --->Great search engine and information site for everything <---
http://www.ed.gov/index.jhtml --> Dept. of Education for any questions<--
http://www.fastweb.com
http://www.gocollege.com
http://www.collegeboard.com
http://www.scholarships.com
http://www.walmartfoundation.org...
Please go to the Department of Education for more help and a list of student loan foundations. .. ... ....
Good Luck to you and I hope this information is helpful to you in some way.
Zero means you will get the most financial for the semester you have applied for. It should cover your classes and books. You
should even received a refund after everything is paid for if you do not use all of your money in the bookstore purchasing expensive notes books and other items.
2006-10-15 21:51:55 · answer #4 · answered by Anonymous · 1⤊ 0⤋
I'm pretty sure that this means $0 is how much you need to contribute to your tuition, I'm not sure if this includes books or not though, call 1-800-4-FED-AID just to make sure though. Congrats on going back to school!
2006-10-15 13:53:09 · answer #5 · answered by Alyss K 3 · 1⤊ 0⤋
Hi. Where ever you are pursuing your higher education the counselor can help with the financial aspects that are concerning you. As I can see you have lots. You can also go to the website , fastweb.com. They have lots of reputable scholarships for you to apply for. good luck.
2006-10-15 13:59:36 · answer #6 · answered by Anonymous · 1⤊ 0⤋