Click here to go to the NEW College Discussion Forum

greets to all!
I'm an international student, accepted to a few equally fine universities, but haven't yet made the final decision. Currently, I'm waiting to receive a financial aid package from a highly respectable private university in the South. I'm hoping for a substantial amount of finaid from them, since my parents' incomes are extremely low (around $6,500 per year in total, family of four). I have found myself a sponsor, but still, he is only willing to pay my education in the university that gives me the best financial aid offer.

My question is- in case I receive the best offer from this particular university (like, great amount of finaid+merit aid), and I decide to enroll because of this, who can guarantee that I will receive the same amount of need-based money next time, since I would have to apply for finaid each year? My parents' incomes are extremely unlikely to rise in years to come.

Do they usually determine more-less the same amount each year, or are there chances that I be surprized by their sudden change of attitude?

By Dadster (Dadster) on Sunday, March 16, 2003 - 08:26 pm: Edit

Need-based awards tend to stay fairly similar from year to year assuming no change in financial circumstances, although you should definitely ask the financial aid office about this. Occasionally, schools might make a special award that might not be available in subsequent years.

By Drusba (Drusba) on Monday, March 17, 2003 - 02:56 pm: Edit

Definitely ask the questions of school where you are planning to accept. There have been horror stories in the past of amounts changing, but the more common trick that some colleges may play is that a substantial portion of the "grant" aid money in the first year becomes "loan" aid money in the second.

By Creatorcat (Creatorcat) on Tuesday, March 18, 2003 - 01:10 pm: Edit

I thought international students were not eligible for any federal loans. Or are they?! Well, I don't want any loans or debt, no way.
I will contact the school as soon as I receive the finaid award letter, ask them the questions, seems like the best possible solution.

thanx you all!

By Creatorcat (Creatorcat) on Tuesday, March 18, 2003 - 01:13 pm: Edit

I thought international students were not eligible for any federal loans... Or are they?! Well, I don't want any loans or debt, no way.
I will contact the school as soon as I receive the finaid award letter, and ask them the questions... seems like the best possible solution.

thank you all!

By Drusba (Drusba) on Tuesday, March 18, 2003 - 05:59 pm: Edit

International students are not entitled to federally guaranteed aid. However, a number of colleges create their own aid programs for international students which consist of need based grants and loans just like federally backed aid.