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How does financial aid work?

Scholarships and Financial aid how does this work?

  • Ok so I received financial aid for my classes starting in April and was told through Yahoo answers I might need to fill out a summer application for aid during summer. I plan to call tomorrow to find out But I also just received a 2000 dollar scholarship from a program nothing to do with the college. They are going to send the funds to the school my guess is that it would go toward summer, does this mean I would also get the 1800 from Financial aid? 12 credits would be about 1500 not including books so my question is how much would I get back to myself? 500 or 1500?

  • Answer:

    Well financial aid includes money awarded by the school and federal aid. Federal aid is of course student loans. You'll want to mention the scholarship to the school so they can take that in to account. Getting money back from student aid carries interest with it if it's an unsubsidized loan. So if you do not return the money or pay it back right away you're paying more in the long run.

Danielle at Yahoo! Answers Visit the source

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