I need some help figuring out my financial aid award letter...?

Question

it says:

Fed Unsub Stag Elig

2008FA: 1750.00

2009SP: 1750.00

Total:3500.00

what does the FA and SP mean?

does this mean that FAFSA will only pay $1750 per semester?

Answer 1

You are being offered a loan in the amount of 1,750 for the fall (Fall 08) and another loan for the same amount in the spring (Sp 08).  The loans are unsubsidized, which means you are responsible for paying the interest on the loans for the duration of time you have them.

If your school is more money than this, then you will have to come up with the difference.  Here is a good book about fin aid and loans.

Answer 2

FA=fall semester

SP=spring semester

Not knowing for sure all the details of the letter, it looks like it says that you are elgible for unsubsidized loans and these amounts are probably the subsidized amounts you were granted.  Subsidized loans are typically less than the awarded amount available for unsubsidized.

Answer 3

If this is the only thing on your letter, yes, you will only get $1750 per semester through government aid. You can talk to the school's financial aid office to see if there are other things available through the school, but don't count on it. You may need to get a part time job to help out.