Will FAFSA can cover my whole expenses in MIT including the dorm and food??

Question

I am student who is in need of financial aid. So it will be obvious that i will be granted for financial aid. The total cost of MIT including dorm and food will be approx $40000. Help Please.

Answer 1

Hard to say without more information.

FAFSA will look at your parent's income even if you are not living with them during college... or even if they are not helping you with college. Until you turn 24, you will always be considered a dependent so they will look at your parent's income.

Thats just one factor.. theres many others that can affect how much you get.

Answer 2

No, all FAFSA can qualify you for is a Pell Grant of just over $4000 (for the poorest families), a subsidized loan of $3500 and work study which will probably be under $2000 at MIT. And your info is not current, MIT currently costs about $50,000 per year. But they do have institutional financial aid which will kick in after the Fed money (FAFSA) depending on your family's income it could cover everything else.

Answer 3

I don't think the fafsa will cover all of it, but it depends on the school. Talk to the financial aid office there. They might have scholarships or other grants they give to the students.  

Answer 4

If you have parents willing to take out a PLUS loan for the remainder of your education after you take out the max 5,500 stafford loans and any state and federal grants you might get (federal Pell is only 4,700 a year) you might.  PLUS loans are your parents responsibility to pay back and are not in your name.