Comments on: How much will FAFSA give college financial aid to people under $20,000 income?

By: Suddenly Human

Suddenly Human — Tue, 29 Sep 2009 01:26:59 +0000

20K a year may not be considered low income if you are a single person…. just so you know.

Anyway, IF you are poor according to the federal government, the maximum Pell grant you can get is $4,731 for the entire year if you attend school full time. The state of NY has grants as well, but I’m not sure what the max is on that one. If you are a dependent freshman in college, you can also borrow 5,500 a year in federal Stafford loans. Dependent students can also ask their parents to take out parent PLUS loans to may most of the remainder.
References :

By: mwcritt

mwcritt — Tue, 29 Sep 2009 00:53:59 +0000

Financial aide is based on the tuition at the school as well as your income, but there is a maximum it will pay. Probably $3000 per year is the maximum grant and $4000 per year is the maximum loan amount. Many private schools also offer financial aide from private sources as well as scholarships. You should talk to the people in the financial aide office at Pace.
References :

By: Sally

Sally — Tue, 29 Sep 2009 00:10:59 +0000

If you’re under 23, unmarried, no kids, not a veteran, then you’ll file as a dependent and your parent’s income will be the main factor on whether or not you get financial aid. After you apply, you’ll be given an "EFC;" which is your expected contribution out of your pocket. After that; you’ll receive an award letter that will tell you how to pay for everything beyond your expected contribution. For example; my mother is poor, so my expected contribution was $0. And my award letter said I qualify for Federal Grants in a certain amount, and Federal Loans in a certain amount. Grants will never completely cover your education, so you’ll probably have to take out student loans. If your grants and federal loans (and some colleges have their own grants and loans in addition), then you’ll have to rely on your own income and/or private loans. (PS: Private loans are a rip-off, avoid them if you can).
References :

By: Potato

Potato — Mon, 28 Sep 2009 23:35:59 +0000

It is not solely on income. Other factors are included such as if you are a dependent and have dependents, parents income if you are a dependent. Most people do not get any money or little money from FASFA.
References :

By: David C

David C — Mon, 28 Sep 2009 23:14:59 +0000

Last year I made under $16,000 part time. This year financial aid pays $800 a quarter off of tuition. Hope this helps ya
References :