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 3.7 and an ACT score of 27, 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 $4,000 in annual out-of-pocket costs.
Expected Family Contribution = $1,307
Family Size: 4 (one in college)
Family Income: $60,000
The Finanacial Aid Package
Merit Scholarship: $14,000
Need-based Grant: $11,790
Federal Pell Grant: $1,400
Supplemental Educational Opportunity Grant (SEOG): $650
State Grant: $4,197
Federal Perkins Loan: $2,000
Federal Interest Subsidized Stafford Loan: $5,500
Student Employment: $2,000
Total Financial Aid: $41,537
College scholarships and federal grant programs, with student self- help, created a financial aid package of over $41,000 – one that made a Lutheran college a reality for Eduardo.