How much financial aid should i expect

Learn about how you can take advantage of pell grants when funding your college expenses, how much you can receive, and more in this helpful article. Discover top higher education tax benefits and recaptures to take advantage of for and in this helpful article! Pell Grants are disbursed per semester if your school uses the semester system. The amount you receive is adjustable based on your specific needs, so you may receive less than this amount. Not all schools participate in this program.

Like the Pell Grant, this award is split per semester. There are different amounts awarded to different education levels. Student loans : There are several loan programs provided by the federal government, including: Direct subsidized loans Direct unsubsidized loans Direct PLUS loans, both for graduate students and parents with dependent undergraduates Direct consolidation loans Loan amounts vary based on several factors, like: Whether you are a dependent or independent undergraduate student Whether you are a graduate or professional student Whether you have defaulted on student loan payments in the past Whether you have a significant financial need, qualifying you for subsidized loans How much you can take out also depends on your academic year in school.

To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Some students also automatically qualify for certain federal grants. Your financial need is the difference between the amount your school costs per year and the amount the government determines your family could potentially contribute toward those costs.

The first element of this formula, cost of attendance COA , is calculated individually by each school and includes tuition, fees, housing, meals, transportation, books, supplies and child care. But you can think of it as an indicator of your financial need. Independent students may qualify for more need-based financial aid; they also have higher loan limits when borrowing federal unsubsidized loans as undergraduates.

The federal government determines dependency status based on certain specific factors. For some students, this feels inappropriate because they do not have contact with their parents, or their parents refuse to provide their information. Your school, however, will ultimately determine how much financial aid to give you. A more realistic number to look at is net price, or the amount a student pays out of pocket that takes into account grant and scholarship aid received.

Each college has a net price calculator on its website, which you can find a link to via the U. You could end up getting even more financial aid, however. You could qualify for additional merit aid based on your academic performance and personal characteristics, for example. I want to learn more about college savings. I'm ready to open a plan. Password Show. Forgot your password? LOG IN. Enter your email address to begin the reset password process.

Enter your e-mail address to begin the reset password process. The EFC is based on the student and parent income and assets, family size, number of children in college and other demographic factors. Are you married? What is your annual adjusted gross income AGI? What is your spouse's annual AGI?

How to Increase Your Chances of Qualifying. Complete Guide to Refinancing Student Loans in Unlock Printing Already have an account? Parent Grandparent Financial Advisor.