Is financial aid free money?
Fafsa is free money . it is used for anything you need to go to school. so if you need your hair done for school you can use it. you dont have to pay it back. your eligibility is based on your parents income.
Can you keep money left over from financial aid?
Yes you can keep the extra. But be aware many people get different KINDS of financial aid. One person may get a huge amount of loans that have to be repaid, and another may opt to not do any loans and get not much. If she is taking out loans, she'll eventually have to repay it.
When will i get my financial aid money?
You need to call your financial aid office and explain this to them. You should have got your award offer and had a chance to accept it by now, unless you filed late. My daughter starts in September and got her awardoffer about a week ago or more. We will be accepting the aid soon. She gets her grants and loans in her college account on scheduled disbursement dates. They give hers per semester. The dates are posted on her account we can log into, they are each about 2 weeks before the semester starts. She gets her refund usually the week of college. You never want to get your books early because professors sometimes ask for specific books or no books and its online. So they know this. The get their refund on a visa credit card they use, some colleges give checks. It seems you are starting early. Is this summer session you are going to? If so, summer starting soon falls under the 2011/2012 FAFSA. You would need to have that FAFSA on file, need to add the college on it you are attending during summer and fill out summer registration form at the college so they know you are attending during summer and to create a summer award offer for you. Again call your financial aid office asap for answers specific to your college you want to attend.
How much money would one get from financial aid if they live with a single mom who makes less than $30,000 a year?
You will receive almost all, if not all the Pell Grant amount, which will be $5,815 for the 2016–2017 academic year.If she makes less than $25,000, you will automatically qualify for a 0 EFC, which entitles you to the full Pell Grant amount.See pages 4 and 5:https://studentaid.ed.gov/sa/sit...
Is financial aid (FAFSA) free money?
It is not "free money." There is no such thing as "free money." FAFSA is not money. FAFSA is an application that determines if a student is eligible in terms of need for student aid. All the monies disbursed by the federal government for disadvantaged students to pursue post-secondary education are American tax dollars. The taxpayers hope students would be grateful and use the funds wisely. (Federal) Pell Grants are an entitlement and are not paid back. Student loans subsidized by the U.S. Government are paid back. Taxpayer dollars pay the subsidy on the loans while students are in school. State aid program funds are drawn from state income taxes paid by people who work. The United States offers more funding for higher education than any other country in the world. But it's hardly 'free money."
Leftover financial aid money?
Financial aid funds are first sent to the school where the college's charges, such as tuition and fees, are deducted. If there is money left over after the charges are paid, the difference is refunded back to you, usually in the form of a check or debit card. You can then use these funds to pay for other educational expenses, such as books or transportation (but not personal expenses such as buying a car, or going on a shopping spree). As another person suggested,many students set this money aside to pay for summer classes. Not all students receive a refund because sometimes all of the funds you were awarded are needed to pay the school's charges, so there is nothing left to refund to you. Federal aid has to be paid out in two disbursements, so usually you will receive 1/2 for the fall semester and 1/2 for the spring semester. Most schools disburse right after classes start, or after the add/drop period ends. Once the disbursement is posted to your account, if there is a credit balance (i.e. money left over), the school has to refund it to you within 14 days.
How can I get financial aid?
Many people apply for financial aid because they have a desire to learn but could not afford to pay for the online course. Previously Coursera used to approve the financial aid using computer verification. There could have been a misuse of the same. Nowadays, Coursera takes 13 days for the verification process and approval. So they grand financial aid for deserving candidate.I had myself applied for financial aid, and fortunately, financial aid for Machine Learning was granted.To apply for financial aid, you need to write two essays. First, why you need the financial aid and second, how will this specialization help you in your career prospects. The essays should be of at least 150 words and the result of your application is given after 2 weeks. Moreover, you need to apply for financial aid for each course in the specialization individually.and one more Important thing is that Financial Aid is Valid for 180 days from the Date of Approval. so try to complete within 180 days or once again you need to apply for Financial Aid & resume from where you were stopped.Best of Luck. :)
Can i still get financial aid if i owe money to another school and also owe loans?
If you just owe loans (and are NOT in default on them!) you should be fine. If you owe the college itself money, that's another story. Most times, a college won't release your academic transcript if you owe them money. Your new school will most likely require you to send them official transcripts of every school you've attended (whether you're transferring in classes or not), and if one of the colleges won't release it due to a financial hold, you might be out of luck. If that is the case, you'll want to pay off the balance you owe U of P. Don't try to cheat the system by not telling your new school about attending U of P. Just last week, one of our incoming students tried this exact thing, and we caught her because she had taken out loans at that college, so it was on her financial aid history. We barred her from our college because of fraud... Just a friendly warning ;)
What if you don't use all of your financial aid money - is it taken away or can you keep it?
When you submit the FAFSA, you sign a statement agreeing to use the money only for educational expenses, so you cannot use the funds to go on a crazy shopping spree. But, in most cases, there isn't enough to do that, anyway. Financial aid funds are first sent to the school where the college's direct charges, such as tuition and fees, are deducted. If there is any money left over after those charges are paid, the difference is refunded back to the student to be used for other educational expenses, such as books and transportation, or to help pay for summer classes when you don't have any financial aid. Not all students receive refunds because often your entire award is needed to pay the school's charges. If you are attending a very low cost school, such as a community college, it's possible that there could be a couple of thousand dollars left over, but by the time you pay for books, transportation, etc,, most likely there won't be much left for shopping sprees. Keep in mind that schools generally use grant money first to pay their charges, so often the money for those "refunds" is from student loans that you will have to pay back with interest after graduation. It may seem great to get a big check that you can go out and spend, but it won't seem so great 10 years from now when you're still paying for the pizza or the dress you bought today. Although the school is required by law to offer you the full amount of financial aid that you're entitled to, you aren't required to accept it. If you are getting large refunds due to student loans, a smarter thing to do would be to talk to your financial aid department about reducing the amount of those loans to just what you need to pay your college bills. That way, you won't be stuck with a heavy debt burden after you graduate.
What is the most money YOU recieved on Financial Aid???
You're going to get a wide variety of answers to this question depending on what people mean by "financial aid." some people interpret Financial Aid to mean "scholarships" or just "free money" (grants, fellowships, etc). Technically, Financial Aid includes everything from grants and scholarships to loans and work-study. If often includes private loans and private scholarships too -- and if you add these types of aid into the mix, there are a lot of students who receive enough financial aid to cover tuition, housing, books, fees, and more. It's not at all uncommon. If you'll be attending school full-time and won't be working (i.e. you'll need to pay your entire bill with something other than savings/earnings), make sure that you have looked into your eligibility for the following types of aid (Note: the amounts listed below are the maximums for undergraduates; grad students are ineligible for federal grants but can borrow much more in loans): * Federal Pell Grant (up to $4050 per year) * Federal SEO Grant (up to $4000 per year) * Federal Perkins Loan (up to $4000 per year) * Federal Stafford Loan ($2625 for Freshman; $3500 for Sophomores; $5500 for 4th and 5th years -- additional Federal Unsubsidized Stafford Loans are available to independent undergraduate students for $4000 [for years 1 & 2] or $5000 [for years 4 & 5]). * Federal College Work-Study Program (as much as you need or as much as your school is willing to give you) * State grants * State loans (usually low interest; rates vary) * Private loans such as these http://www.finaid.org/loans/privatestude... * Private scholarships -- try any of the following sites or check with your college for more ideas: http://www.fastweb.com http://www.srnexpress.com http://www.scholarships.com http://www.scholarships101.com http://www.finaid.org/scholarships http://apps.collegeboard.com/cbsearch_ss/welcome.jsp http://services.princetonreview.com/default.asp?RUN=%2Fcollege%2Ffinance%2Fscholar%2FscholInterview%2Easp&RCN=auth&RDN=7&ALD=http%3A%2F%2Fwww%2Eprincetonreview%2Ecom http://www.collegeanswer.com/paying/content/pay_free_money.jsp