Sunday, September 18, 2011

How much financial aid would some one receive under the following conditions?

I am asking about a hypothetical student who would like to attend Cornell or NYU and he get public assistance. An SSI payment of around $300 a month and food stamps. He lives with some one who provides him shelter. So how much financial aid will he receive? I would like tot know this for my report about college costs. Would he get more than 80% of what he needs to pay for tuition and possibly a dorm? Thanks.|||Look at page 3 of this Department of Education book.


http://www.edpubs.gov/document/EN0913P.p鈥?/a>





It has a nice chart with the different kinds of aid and a brief description on the criteria. Go through each item and determine if your hypothetical student would meet the criteria for each one and if he does enter in the Max amount.





Note: to get an accurate amount, you are going to have to know if he is considered independent or dependent according to fafsa guidelines.. (as the loan amount maxes are determined by his dependency status) and if he has parents willing to take out parent PLUS loans for him. If he is independent, he would not have this option. Also note some of the grants listed on page 3 would also require you to know if he was a entering freshman, sophomore, junior or senior... (ACG) and what his major might be (SMART grant).





THEN you are going to have to look up the costs of both of those schools to see if it is even close to what he might get in financial aid.|||There are funds out there, first it depends on the college he wants to attend, you would need to contact the financial aid office for this and have his taxes from 2 years, then apply, there will be pell grants, local college grants available for him, then financial will depend on the career choice, if he is taking a career goal that will get him a degree and is full time which is 12 credits a quarter, he will get around $4,000 if he has proof of taxes showing he has not made much money, but all colleges are different, so best thing to do is apply for financial aid and find out.

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