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Page 2
If the student comes from a family that is not expected to make any financial contribution to the education as determined by the Free Application for Student Aid (FAFSA), then the student would be eligible for federal and state grants totaling $4,184, the 53 percent share not provided by the student.
Student's Share .....................$ 3,711 Parent's Share ................................0 Federal Pell Grant ....................3,000 State Grant ..............................1,184 Total ......................................$ 7,895 If the student comes from a family that is expected to make a $1,000 contribution as determined by the FAFSA, the student would be eligible for federal and state grants totaling $3,184 (the 53 percent share less the parent's $1,000 contribution). Source of Funds: Student's Share .....................$ 3,711 Parent's Share .........................1,000 Federal Pell Grant ....................2,500 State Grant................................684 Total .....................................$ 7,895 The student may receive additional grant assistance from private or institutional sources that are under the control of the campus financial aid administrator. Receipt of these additional grants does not affect the size of the State Grant or the Federal Pell Grant. This additional assistance can be used to help meet the student's share of the responsibility. Shared Responsibility: Example 2 The University of St. Thomas is a private institution. In 1998-99, the state recognizes the price of attending the school at $12,940 a year. That includes tuition and fees of $8,055*, plus $4,885 for living and miscellaneous costs. * An important note: The total tuition and fees at University of St. Thomas are actually $15,646 in 1998-99. But for the State Grant Program, only $8,055 is recognized in the award calculation. Therefore, a student may have to provide an additional $7,591 in tuition and fees not recognized by the state. Example 2: University of St. Thomas, Dependent Student Price of Attendance: Tuition & Fees ......................$ 8,055 Living & Misc. Allowance .........4,885 Total ..................................$ 12,940 The student is expected to contribute 47 percent of the yearly cost, or $6,082. The remaining 53 percent of the yearly cost, or $6,858, comes from the contribution of the student's parents, and from federal and state grants. If the student comes from a family that can't afford to contribute to the education (based on its financial need analysis as determined by the FAFSA application), then the student would be eligible for federal and state grants totaling $6,858, the 53 percent share not provided by the student. Source of Funds: Student's Share .....................$ 6,082 Parent's Share ................................0
The copyright of the article Minnesota State Aid Programs & Information - Page 2 in Financial Aid is owned by . Permission to republish Minnesota State Aid Programs & Information - Page 2 in print or online must be granted by the author in writing.
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