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Does anyone know how I would be able to gain access to my personal expense/ travel budget within my aid package. Also, could I use it for things like tickets home. Thanks

By Starmel (Starmel) on Friday, January 02, 2004 - 08:02 pm: Edit

anyone?

By Emeraldkity4 (Emeraldkity4) on Friday, January 02, 2004 - 09:43 pm: Edit

Your personal expenses are considered part of your total expense package.
Your total expenses are considered to include money for books, transportation etc. as well as tuition and room and board. Of course they are not necessarily estimated to cover actual costs.... but the intent is there. Actual costs are also flexible. Books can be gotten at less than half price by buying used or sharing with other students. Transportation costs can also be minimized by limiting trips home and if possible alternative means of transportation.
Say your total cost of college is $40,000, your EFC is $20,000. You will be offered ( by a school that meets 100% of need) $20,000 in loans, grants & workstudy. Your personal expenses and travel budget will come out of this total package.

By Vadad (Vadad) on Friday, January 02, 2004 - 10:09 pm: Edit

Work study is usually considered the "personal expenses" portion of the aid package. You'll have access to it as you earn it; you can use it for whatever you want--food, travel, cattle futures, etc. If there is additional money left over after your grants and loans are applied to your school charges each semester, that will be rebated to you (if it's your loan or grant) or your parents (if it's their loan). Again, you'll be able to spend it on whatever you want. The money is not requisitioned on a per expense basis.

By Starmel (Starmel) on Friday, January 02, 2004 - 11:11 pm: Edit

thanks; your replys were very helpful