Financial Aid Packages

The published cost of tuition and fees along with room and board

• Net Price

• Sticker Price/Cost of Attendance

• Financial Aid

• FAFSA

The actual cost a student pays to attend a school after accounting for scholarships and grants.

• Tuition

• Opportunity Cost

• Cost of Attendance

• Net Price

Type of aid primarily awarded for academic merit (good grades) or for something you have accomplished (volunteer work, athletics, etc) that does not need to be repaid.

• Grant

• Loan

• Scholarship

• Direct Unsubsidized Loan

Student aid coming from the state or federal government, the school, or from private sources that does not need to be repaid. Usually based on a student’s financial need.

• Work-Study

• Grant

• Scholarship

• Loan

A federal program that provides part-time jobs for students with financial need, allowing them to earn money to help pay college expenses.

• Work-Study

• Grant

• Scholarship

• Loan

After reviewing Financial Aid Offer #1, what question should you ask the financial aid representative regarding important information that is not available in the offer?

• What calendar year is this financial aid offer for?

• What is the school's cost of attendance?

• How much will I receive in college grants?

• How do I accept or decline this aid offer?

How much annual aid are you being offered in Offer #1 that you do not have to pay back or earn through work?

• $73,332 (Federal Loans + Work Study + Grant + Family Financing Option)

• $44,562 (Family Financing Option)

• $25,770 (Federal Loans + Grant)

• $20,270 (Grant)

Financial Aid Offer #1 includes a "Family Financing Option"? Which statement best describes this type of aid?

• This option is gift aid and does not need to be repaid.

• It is a reflection of options available to finance the remaining cost of attendance.

• It is a loan available through the federal government which requires a family member to cosign.

• It is a type of scholarship available to students who have another family member also attending the university.

What is the estimated annual Cost of Attendance in Offer #2?

• $28,013

• $15,888

• $14,007

• $12,125

How much annual aid are you being offered in Offer #2 that you do not have to pay back?

• $23,368

• $15,946

• $7,422

• $4,645