Does the amount of Federal Student Aid increase when applying for a 4 year college?
I am currently enrolled in a community college and have been granted $5,000 in student aid for full time, and was wondering if when I transfer that the amount granted would pay for the yearly tuition of a four-year school. #graduate-school #college-admissions #federal-government #federal-work-study
You have to apply for the student aid. It is based on many factors. The FAFSA is used by aid providers to determine the amount of the student's Expected Family Contribution (EFC), which is the amount that they expect the student's family could contribute toward the student's college education. EFC varies from student to student since it is based on the specific financial situation of the student and often of the student's parents as well. Apply in advance, meet all deadlines and find out all requirement. Other options: Federal jobs pay for college courses. If you work for them, they will pay for courses that relate to the job. Average annual salary for full-time federal government jobs now exceeds $81,258 and The average annual federal workers compensation, including pay plus benefits, now exceeds $123,049 compared to just $61,051 for the private sector according to the United States Bureau of Economic Analysis. http://govcentral.monster.com/training/articles/4-student-loan-repayment-overview
This doesn't really apply to your question as in figures of what would be granted for the loan - but I just want to give advise to pay that loan off as soon as you can! Most students put those loans off, and it can affect you for decades down the road. The interest is tremendous, and not getting that paid off as soon as you can could cost you thousands extra as well as ruin your credit.
I actually rolled my student loans into my car loan eventually. The interest was much less, and it actually built my credit score. Best of luck!