Another Financial Aid Question

[punkrockmomma]

Are there any moms out there who are in school right now, have an EFC of 0, and are going to a private school? I was wondering how much of your cost of attendance is covered by financial aid? I mean your basic financial aid (pell grant, other grants, and stafford loans) and maybe scholarships from the school, no outside scholarships. The reason I ask is because my schools cost of attendance is $15,465 per semester, that includes stuff like books, transportation, estimated housing costs etc, but my financial aid award doesn't even come close to covering this, and my EFC is 0, I don't get it. I know that due to the fact that I applied for financial aid late in the game this year there is aid I can't get anymore, but still considering my EFC how am I supposed to make this work. I have a DD that has to go into child care for the first time in her life, and I had hoped to use any extra aid I got for that, because DP and I can't afford child care, that's one reason I'm a SAHM. I do want to work on campus part time, but I'm worried I will A. not make enough to cover child care and B. If I work that means DD is in child care longer, and that means child care will cost more. The child care at my school is not income sensitive, but is VERY good, so I consider it worth it to send her there. I also need her to be close, because we will be taking the bus home in the afternoon, because DP works 2nd shift. I know I'll be able to figure this out, as I have an appointment with financial aid tomorrow. But I guess I was just wondering if anyone else has been in a similar situation to this and how were you able to resolve it? Also, if anyone has any good leads on scholarships, or grants for poor, single, moms who are going to school to become a teacher, that would be great too.

[Carita]

IDK, but some of it does depend on your school, and def depends on how early you apply for financial aid. you should go in and work with your FA office. and if you get good grades this semester, you should be eligible for scholarships later. and of course, no matter what your EFC, most people I know had to work and/or take out loans.

some older schools with large endowments are now publically advertising full scholarships for low family income - good schools, like Harvard, and other small private colleges. Not all private schools are the same.

[maryeliz]

Each school calculates financial aid differently so it can be very confusing. Some schools promise to meet all need as defined by EFC, some schools a heavily guided by EFC but ask you to make some financial contribution, other schools basically ignore EFC.

In your case, I would ask the financial aid office to explain their policy to you so you know what to expect in the future. I would also write them a formal letter of appeal, explaining your circumstances and asking for increased aid.

When I had an EFC of $300, my school still expected me to pay $1500 a year because that was their minimum student contribution. That amount was covered by my loans, so I paid zero tuition out of pocket, I got some loan money back for living expenses, I worked 20-30hrs a week for the rest of my living expenses, and I graduated with about $10,000 in debt (all subsidized loans)-which I felt was a really good deal.

My total financial aid package included Pell grants, SEOG grants, loans, and then the school made up the rest in grant aid.

[StephandOwen]

It is really confusing. I have an EFC of 0. I got the max amount for the Pell Grant and another (smaller, local) grant. I am going to a community college attached to a major college (will transfer over after 2 years). The schools estimated cost of attendance was WAY higher than what I got in grant money. But none of that really mattered. Because I didn't need to pay for housing. I didn't need all those "extra curricular" things that they include in the cost of attendance. I didn't need to spend as much on food as they say, etc. After all was said and done- my grant money covered all of my tuition and I still got a check afterwards for about $2000. That covered all my books, a new laptop and is still covering gas to get to/from school, etc.

Be cautious when looking at scholarships/grants/loans. I am also going to become a teacher and I've found more than one that will give you a "free ride" through school BUT you have to meet certain requirements after you graduate. You have to work in certain schools for a certain number of years. If you fail to meet their requirements then you have to pay back the entire loan, plus interest. That's a scary prospect to me so I'll be avoiding those