Paying for College

Understanding Financial Aid Budget Worksheets

Question: I'm really having a hard time understanding my financial aid papers. I noticed on my budget worksheet that certain amounts are calculated for room and board (I live off campus), personal expenses, dependent care, and transportation. How is this supposed to benefit me, and was it necessary to calculate this in my budget?

When a college prepares a budget sheet such as the one you describe, what they are really doing is showing you the figures on which they have based the amount of aid they are awarding you.

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