Financial Aid Case Study

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The financial aid I receive each school year through scholarships, grants, and federal loans to attend Oregon State University in total comes to $31,415 out of the total cost of attendance, which is $43,896. After subtracting the amount of aid given from the total cost of attendance a year, the total left to pay out of pocket comes to $12,481 a year. The financial aid programs from which I receive aid from include the following: EOP beaver Scholarship ($900), Golden State Scholarship ($5,000), Federal Pell Grant ($5,765), Federal SEOG Grant ($750), Federal Perkins Loan ($5,500), Federal Ford Direct Loan-Sub ($3,500), Federal Ford Direct Loan-unsub ($2,000), and the Tuition Grant Scholarship (8,000). In total each year, $11,000 of the aid received …show more content…
In this case, the amount of aid needed for summer term would be subtracted from the amount received fall, winter, and spring term. The cost of attendance yearly for out of state students is substantially more than that of in state students. The average yearly cost of tuition for in state students is $26,415, whereas for out of state students it accumulates to $45,075, this is 70.6% more than in state. Although my average yearly cost is $1,179 short from the overall average, this causes my financial aid to not cover as much as it could if I were paying the in-state costs. This difference I pay in tuition even with the help of aid makes joining extra activities like Greek life or studying abroad extremely difficult considering cost. To include those extra costs, I’m currently a new member of Kappa Delta and paid $1,606.20 in fees for the year. Next year I’m required to live in which makes the cost $6,966/year. However, my plan to study abroad fall term 2017 allows me to apply for inactive member status. This will take the cost down to $4,644/year since fall terms dues are removed from the overall …show more content…
When averaging the cost, $4,192 is what’s left to pay after applying the aid. I need the help of financial aid and/or scholarships to pay off the amount that remains because I’m unable to pay out of pocket such a large amount. One of the reasons being that all extra money obtained from savings/earnings is put towards books, supplies, and extracurricular activities like Kappa Delta. Since these are all outside costs not incorporated into the overall tuition cost, I pay these off with my own money and without the help of loans. It is important that I find alternative ways to pay for my study abroad program because I can’t afford to do so alone. Being a first generation, my parents expect me to pay for my own tuition. Only helping by allowing me to put the costs uncovered of tuition into loans under their names, in which I will be responsible for paying off after graduate school. So, if I’m able to receive most of what I’m left to pay to study abroad though scholarships and aid I will be able to attend the program. However, if I’m unable to obtain most of the extra $4,192 I will owe, I will not be able to participate in this astounding program, strictly due to

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