Question by Tasha F: Can I recieve Federal Grant money if I received a Federal Loan too?
I completed my FAFSA information and have $ 2155 available to me in Federal Grant money. I also accepted $ 3500 in Federal Loan money. If my tuition is $ 960 and has been paid for by my LOAN, will financial grant money go back and pay this and send me my loan money. Or will I forfeit the grant money since I received a loan? I have all together $ 5900 available for the semester in grant and loan money and school tuition of $ 960. They are supposed to send me the remainder for books, etc. Is this correct to expect that amount minus tuition?
Grant
Best answer:
Answer by Dr. brainy
Yes, you will receive the remainder of your financial aid (grant and loan, less the cost of tuition), after your tuition is paid. You will not lose the grant by accepting the loan- they’re both part of your financial aid package.
Your university estimates the cost of attendance at a higher number than just tuition– because you have to pay for living expenses, books, rent, etc. That’s what the rest of the money goes to. They’ll give it to you to pay for your expenses while you’re in school. If you have any questions about your financial aid package, call a financial aid counselor at your university. Good luck!
What do you think? Answer below!