Financial Aid for college question pertaining to room and board.?

Question

I know I can receive financial aid for college tuition because of my income but I want to know of any resources that I can find that will help pay for some or all of my room and board at a college that I want to go too. Would the resouce if there is any be able to help if my income is $10,000 a year salary without taxes taken out? Thanks

Answer 1

Schools use their COA (Cost of Attendance) in conjunction with your EFC (Expected Family Contribution) to determine what types of aid you are eligible for.

The COA includes tuition/fees, books/supplies, room/board, and personal expenses usually. Most colleges/universities will have this information on their website so you can get an idea. It may be that your room and board is less or more than what the college says, but that is what is listed is the average that the college uses.

Say you have a financial aid package that includes grants, scholarships, and loans totaling $6000 per year ($3000/semester) and that you live off-campus. Say your tuition/fees for one semester is $1000. You would receive a refund of $2000 that you would be able to use toward your rent/groceries for that semester.

If you have not already looked, here are some scholarship links:

College Board Homepage
www.collegeboard.org

FastWEB
www.fastweb.com

Free Scholarship Search
www.freschinfo.com

Gates Millennium Scholars Program
www.gmsp.org

You should also check in your community for local/civic scholarships you may be eligible for.

Finally you should talk to a financial aid officer at your school for more specific information/guidance for your situation. Good luck!

Answer 2

When you apply for financial aid at www.fafsa.ed.gov you apply for financial aid for all aspects of your education including tuition, fees, parking, books, living expenses and such. If you qualify for "financial aid because of my income" the money you qualify for will be sent to the school to pay for dorms, meal plans as well as your tuition. If there is any left over (or say, you don't live in the dorms) the extra is dispersed to you.
Still, look for scholarships and other financial assistance, not always does the free money cover the bill. The more scholarships and tuition waivers you get (check your school's financial aid office or scholarship department), the less loans you will need.

Answer 3

Yep, you will need to research on some scholarships that will cover your room and board, look into grants as well to see what you qualify for. When searching for scholarships make sure you met the requirements for the scholarship and that you meet the requirements each year after that if you are awarded the scholarship.

Are you taking out any student loans? all schools offer the low-interest Perkins loan and it's based on need and income.