How much income is too much income for financial aid?

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My school's financial aid office is very frustrating. They say income really does not determine how much aid you qualify for. They say it is all very arbitrary or is based on some mystery formula they have no knowledge of. Others tell me your income has everything to do with how much aid you get. Who is correct? My school's aid office is arranged as a walk-up window and very impersonal. They promote themselves as superstars, yet never give anyone more than fast-food-level service for only a very few minutes.

G.A.

Southern, CA

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Specializes in Peds, PICU, Home health, Dialysis.

Of course it matters -- I don't know the exact forumla. This is how it was explained to me years ago: if you are a dependent of your parents (meaning you are under the age of 24, not married, and no children), they take a certain percentage of your annual gross income from the previous year along with a certain percentage of your parents annual gross income and add them together. They then label that as your expected family contribution.

Your school reports a certain dollar amount to FAFSA every year indicating what the maximum amount of money it would take to pay for tuition, fees, books, and living expenses for a given semester. They take the difference between that number and your expected family contribution and you have a number that indicates how much financial aid you qualify for.

I am sure the actual process is much more detailed, but I think that is how it works in a nutshell!

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Specializes in Peds, PICU, Home health, Dialysis.

I forgot to add one thing -- if you are an independent (meaning you are either 24 year or older, married, or have children), your expected family contribution is only calculated from your (and your spouse if that applies) gross annual income from the previous year.

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Financial aid offices can be a disaster to wade through. I sometimes think they are as confused as the students are. Good luck!

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Specializes in ICU, PICC Nurse, Nursing Supervisor.

well half of the people that work in the fa office are students..so yeah

financial aid offices can be a disaster to wade through. i sometimes think they are as confused as the students are. good luck!
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