I have a dumb ? (FAFSA)

Nursing Students Pre-Nursing

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Sorry for the totally idiotic question, but for whatever reason this doesn't make a whole lot of sense to me.

I filled out my FAFSA, and just got my SAR.

Sooo, what happens now? The information is forwarded to my school, right? Who decides how much I need? How is the money awarded? Does it usually take a long time? I realize a lot of this is likely dependent on the school, but a general ball park would help.

Thanks :)

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Specializes in Neonatal Nurse Practitioner.

Yes. FAFSA forwards to school. School determines COA (cost of attendance). This includes tuition, fees, an economy living budget, and other misc.

COA-EFC(expected family contribution)= how much aide you can get

Scholarships go toward the aide you can get first, then the federal aid(grants and loans) make up the difference up to the limits of the aide type. The total amount you receive cannot exceed how much youre allowed to get. For example, if later in the semester you get a $500 scholarship, then either part of your loan will get cancelled or part of a grant will have to be paid back with that scholarship.

Your school determines what you qualify for based on your FAFSA, will let you know what they need from you, and will let you know what they award you.

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Perfect, thank you so much!

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Specializes in Neonatal Nurse Practitioner.

I edited a little after you posted. I'd also like to add that private loans can make up differences, but should be a last resort.

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Specializes in Critical Care, Med-Surg, Psych, Geri, LTC, Tele,.

There are no dumb FAFSA questions!

Look at your SAR for your EFC (expected family contribution) it may say 0000 or 3000 or some other number. On your FAFSA confirmation page, it will state the amount you are eligible for in the PELL grant and Direct/Indorect Loans.

To determine your eligibility for student aid, subtract your EFC from the school's cost of attendance.

For example, in my case, my EFC is 0000. The cost of attendance at the community college is $18,000. This supposedly means a person can pay for room, board, transportation, tuition, books for this price annually.

While this means I am supposedly eligible for 18,000. But, I may or may not be able to get the entire amount because grant eligibility does not mean you are guaranteed to receive it.

If your EFC is higher than 0, you will not be eligible for the entire Cost of Attendance. Simply subtract the EFC from the COA to determine max eligibility.

HTH!

This FAFSA stuff is giving me an education, also!

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