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Financial aid?

I was wondering about how much financial aid am I eligible for. I want to get in to a good school (Emory). The tuition there is about, 35000/year, and since i live in driving distance i dont have to worry about room and board. I am of Asian descent. My parents (married) have a combined income of 40,000/year and there are 6 people in my household. I will be the only one attending college of my siblings, and be the first in my family to attend. My parents have paid off the hous, valued at 250K. I am a senior and have gotten all A's in highschool (4.0 GPA). I am taking 2 AP classes (English 4, and Euro. History) 2 Honors (Trig. and physics), and 2 regular (Human Anatomy, and Intro. to Engineering). I have not taken the SAT/ACT, but plan to next month. From my PSAT, I expect my scores to e about: Math: 750 Reading: 680 Writing: 650 So of the 35,000$ tuition, how much do you think financial aid might cover?

Public Comments

  1. Well lets just say that your EFC (estimated family contribution) will be 0, which it may not be...your FAFSA will determine that. Max Pell for the 07/08 award year is $4310 and if you are going to be a 1st year student then your base loan will be $3500 and since your a going to be dependent it looks like, your parents will need to apply for the Parent plus loan....if they don't want one...make them ask for a ridiculous amount, as plus loans are based on credit. If they get denied then YOU will have the option to borrow and additional $4000, independent students can borrow this without having to have parents info, cause they are independent. So with everything above as it is, you could potentially receive $11,810. Now the school may choose to offer you some campus based funds, your state may offer some grants, you may be eligible for scholarships, etc. It all depends, but you should be eligible for the amount above, assuming you fit the criteria I used . I hope this helps in your college choices.
  2. Pell grants only cover around 4000/ year if you receive the full package. When you fill out a FASFA, you will be given a number EFC (expected family contribution) and this will tell you how much of a Pell you will receive. You will be eligible for Stafford loans that cover about 3 or 4 thousand (can't remember exactly) your first year and it increases each year for a maximum of 10,500 your senior year. This shows that you have a lot to cover from scholarships or private loans. Your parents can apply for a PLUS loan, but depending on what state you live in, good scores on the SAT or ACT can help you to qualify for a state scholarship. Also, call the financial aid advisor once you are accepted and schedule an appointment. Many times they can point you in the direction of scholarships you would never have thought of; not to mention the scholarships the school may offer you. Also, your high school advisor should have knowledge of scholarships that you can apply for now for your freshman year. Student loans should be a last resort. If you want to pay for school, do the leg work for scholarships and don't be afraid to beg for help from people who work with financial aid every day. Good luck, and enjoy the next year.
  3. No one here can really gage what kind of aid you might get - especially going to a private school. Your EFC (Expected Family Contribution, based on the FAFSA - www.fafsa.ed.gov) probably won't be all that high, but will be high enough that you probably won't be eligible for the Pell Grant. If you are a Georgia resident graduating from a Georgia high school, then with your grades you should be able to get a HOPE scholarship. It won't cover the tuition and fees like it does at public school, but you may get up to $3000 per year going to Emory. In addition, you should check out the links below for outside scholarship information. College Board Homepage www.collegeboard.org FastWEB www.fastweb.com Free Scholarship Search www.freschinfo.com Gates Millennium Scholars Program www.gmsp.org It would be best to talk to a financial aid officer at Emory to get a gage of what types of financial aid they award and what kind of help you may receive (in addition to see if you have to complete the CSS as well as the FAFSA). Usually private schools have a lot more financial aid to offer than public schools. Good luck!
  4. Ouch! I would definitely apply for fed fin aid as soon after Jan as you can. Also check with the schools fin aid office web page to see if you can find examples of fin aid packages they award. Because a school that expensive prob offers a TON of extra assistance besides what you would get from the department of education. Check with the department you are going to major in to see if they have scholarships, the fin aid office. Here is a good publication with the governmental loan and grant min and maximum amounts. But you prob will have to take out private loans as well..... but who knows, with a GPA that good maybe you'll do great. Good Luck.
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