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teach1
Guest
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| Posted: Fri Jun 18, 2004 10:38 am
Post subject: Financial aid and out of state tuition |
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Can a non-resident student of a state still receive financial aid,
and, since the out-of-state fees would be much larger, would the fees
just take a much bigger chunk of the financial aid? Or would the
student not be able to receive financial aid if they are a
non-resident of the state their college is in.
Thanks for any help
-Sue
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Steve Blank
Guest
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| Posted: Fri Jun 18, 2004 7:31 pm
Post subject: Re: Financial aid and out of state tuition |
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teach1 wrote:
| Quote: | Can a non-resident student of a state still receive financial aid,
and, since the out-of-state fees would be much larger, would the fees
just take a much bigger chunk of the financial aid? Or would the
student not be able to receive financial aid if they are a
non-resident of the state their college is in.
Thanks for any help
-Sue
|
Non-residents attending state-supported schools are eligible for
financial aid.
Financial aid eligibility, or Need, is the difference between the
student's Cost of Attendance and the student's Expected Family
Contribution (EFC)as determined by the FAFSA. COA minus EFC = Need.
The COA of state-supported schools for a non-resident is higher than for
a resident, so the out of state student wil have more Need than a
resident with the same EFC.
For example, say the in-state cost is $10,000 and the out-of-state cost
is $17,000. A resident with an EFC of $6,000 would be eligible for up to
$4,000 in aid (10,000 - 6,000), while a non-resident with the same EFC
would be eligible for up to $11,000 (17,000 - 6,000).
Theoretically, both students might end up paying the exact same amount
after financial aid. But the reality is that neither student might get
their full need met - it will depend on the funds available and the
quality of the student.
Further, experience indicates that the out-of-state student with large
need is less likely to get it all vs. the in-state student with large
need. In-state students may receive a preference from certain funding
sources, and state schools in general tend to have less gift-aid
available per student than private schools to begin with.
Looking at it from a practical viewpoint, the same $11,000 that could be
used for the out-of-state student in the example above might instead
fully fund the need of three in-state students. If the out-of-state
student is a standout student he might still get it all, but otherwise
probably just a piece of it.
Certainly apply to an out-of-state school that you are interested in,
but be sure to also apply to other schools (private and/or your own
state schools) as well.
--
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Cheshire, CT 06410
(203)250-7761 |
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teach1
Guest
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| Posted: Sat Jun 19, 2004 12:01 am
Post subject: Re: Financial aid and out of state tuition |
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Steve Blank <steve@randallblank.com> wrote in message news:<Y8CAc.119$8L3.95@newssvr33.news.prodigy.com>...
| Quote: | teach1 wrote:
Can a non-resident student of a state still receive financial aid,
and, since the out-of-state fees would be much larger, would the fees
just take a much bigger chunk of the financial aid? Or would the
student not be able to receive financial aid if they are a
non-resident of the state their college is in.
Thanks for any help
-Sue
Non-residents attending state-supported schools are eligible for
financial aid.
Financial aid eligibility, or Need, is the difference between the
student's Cost of Attendance and the student's Expected Family
Contribution (EFC)as determined by the FAFSA. COA minus EFC = Need.
The COA of state-supported schools for a non-resident is higher than for
a resident, so the out of state student wil have more Need than a
resident with the same EFC.
For example, say the in-state cost is $10,000 and the out-of-state cost
is $17,000. A resident with an EFC of $6,000 would be eligible for up to
$4,000 in aid (10,000 - 6,000), while a non-resident with the same EFC
would be eligible for up to $11,000 (17,000 - 6,000).
Theoretically, both students might end up paying the exact same amount
after financial aid. But the reality is that neither student might get
their full need met - it will depend on the funds available and the
quality of the student.
Further, experience indicates that the out-of-state student with large
need is less likely to get it all vs. the in-state student with large
need. In-state students may receive a preference from certain funding
sources, and state schools in general tend to have less gift-aid
available per student than private schools to begin with.
Looking at it from a practical viewpoint, the same $11,000 that could be
used for the out-of-state student in the example above might instead
fully fund the need of three in-state students. If the out-of-state
student is a standout student he might still get it all, but otherwise
probably just a piece of it.
Certainly apply to an out-of-state school that you are interested in,
but be sure to also apply to other schools (private and/or your own
state schools) as well.
|
Thank you Steve! Your answer is very comprehensive.
-Sue
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Steve Stone
Guest
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| Posted: Sat Jun 19, 2004 2:48 am
Post subject: Re: Financial aid and out of state tuition |
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In article <b5b078c1.0406181001.1f0fce4f@posting.google.com>, susangrand@earthlink.net
says...
| Quote: |
Non-residents attending state-supported schools are eligible for
financial aid.
|
My daughters situation:
We live in New York. She applied to a New Jersey State College.
NY residents are eligible for financial aid directly from the college
or from the federal government.
She received a merit scholarship directly from the college.
We qualify for federal supported loan programs.
New York residents are not elegible to apply for financial aid thru NJ State aid programs. |
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