Financial Aid Example: Dana
Dana wanted to attend a college away from home but not too far. It was just Dana and her mom since her parents divorced and she wanted to make sure she was close enough to her mom if she needed to check-in.
Just a 45-minute drive from home is her preferred Lutheran college, one at which her high school GPA of 3.7 and her SAT’s of 990 made her a definitely admissible candidate. It could not have been more perfect. The only obstacle she faced was financial.
Financial Profile
Expected Family Contribution = $4,731
| Family Size: 2 (one in college) Family Income: (out of PELL grant range) |
$33,000 |
| Assets: | none |
The Financial Aid Package
| College Grant: | $4,300 |
| State Scholarship Award: (Dana will graduate in the top 1/2 of her High School class) |
$2,700 |
| College County Award: (Dana will graduate from high school in the college’s county) |
$1,000 |
| Tuition Assistance Grant (TAG): | $2,000 |
| College Supplemental Grant: | $4,250 |
| Educational Loans: | $4,125 |
| Total financial aid: | $18,275 |
All of these awards combined to an aid package of $18,275, bringing Dana’s balance down to a more reasonable figure, one she could easily manage with a combination of different payment options.
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