Financial Aid Example: Eduardo

Eduardo will be the first in his family to go to college – and his parents, sister and grandparents all want to support him and make certain that he has a successful experience. A solid student, with a GPA of 4.0 and an ACT of 25, Eduardo knew that he would benefit greatly from the small class size and the value driven program at a Lutheran college in his state.

His concern, and that of his family, was how they could afford this investment in Eduardo’s education. Working closely with the financial director at the college, Eduardo and his parents were able to file the right forms to maximize his eligibility for help from the college and from other sources. The result was that Eduardo is able to attend his preferred Lutheran college for less than $4000 in annual our of pocket costs.

Financial Profile

Expected Family Contribution = $1,307

Family Size: 4 (one in college) Family Income: $28,558
Assets: $22,000

The Finanacial Aid Package

Merit Scholarship: $9,000
Federal Pell Grant: $2,700
Supplemental Educational Opportunity Grant:
(SEOG)
$1,700
Federal Perkins Loan: $3,500
Federal Interest Subsidized Stafford Loan: $1,625
Student Employment: $1,400
Total financial aid: $19,925

College scholarships and federal grant programs, with student self- help, created a financial aid package of almost $20,000- one that made a Lutheran college a reality for Eduardo.

Independent 529 Plan Thrivent Financial Lutheran Church Missouri Synod Evangelical Lutheran Church of America Academic Vocations