The document provides an overview of financial aid, including the various types of aid such as grants, scholarships, loans, and employment. It explains that financial aid aims to help students pay for college by evaluating family ability to pay and distributing limited resources equitably. The document outlines the FAFSA application process and how to determine financial need by calculating the cost of attendance and expected family contribution. It also discusses federal, state, institutional, and private sources of financial aid.

1. FINANCIAL AID: The Essentials and then some….

30. Comparing Aid Offers $4700 $4700 $4000 $1900 PA State Grant $3940 $440 $3140 $0 Unmet Cost (Cost – aid) $3940 $440 $3140 $0 Unmet Need (excluding Unsub Stafford) $20000 $4500 $0 $0 Institutional Grant $2000 $2000 $2000 $0 Stafford Loan - Unsubsidized $3500 $3500 $3500 $2240 Stafford Loan - Subsidized $2500 $1500 $1000 $0 Work Study $3000 $2000 $2000 $0 Perkins Loan $3000 $2000 $0 $0 SEOG Grant $2360 $2360 $2360 $2360 PELL Grant $43000 $21000 $16000 $6500 NEED $2000 $2000 $2000 $2000 EFC $45000 $23000 $18000 $8500 COST School D School C School B School A

31. Comparing Aid Offers $1400 $1100 $600 $0 PA State Grant $12600 $10000 $10000 $6500 Unmet Cost (Cost – aid) $2600 $900 $0 $0 Unmet Need (excluding Unsub Stafford) $21000 $2000 $1900 $0 Institutional Grant $2000 $2000 $2000 $2000 Stafford Loan - Unsubsidized $3500 $3500 $3500 $0 Stafford Loan - Subsidized $2500 $1500 $0 $0 Work Study $2000 $2000 $0 $0 Perkins Loan $0 $0 $0 $0 SEOG Grant $0 $0 $0 $0 PELL Grant $33000 $11000 $6000 $0 NEED $12000 $12000 $12000 $12000 EFC $45000 $23000 $18000 $8500 COST School D School C School B School A