Is college financial aid calculated as a percent of expenses?

  • Thread starter Thread starter Makayla n
  • Start date Start date
M

Makayla n

Guest
Is it a set dollar amount so students get the same aid for higher priced as lower priced schools?
 
Your financial aid is mostly based on income. It is set up so that you cannot receive more than what they have calculated as your "cost of attendance". However, the only students that normally have more financial aid then they need are going to be the ones that also have scholarships and not just federal aid.
Assuming you do not have a scholarship, your federal aid will be the same no matter where you go to school. You will not get more simply for going to a more expensive school. The maximum amounts of grant and loan money are set in stone. They will be the same whether your school costs $5,000/year or $50,000/year.
 
Back
Top