Hey, I'm seriously considering attending Long Island University next year but the cost is a major factor for me. Can anyone share their experiences with the LIU financial aid? Are they generous? Any advice on how to ensure I get the maximum amount of aid possible? Thanks in advance!
As you plan your financing, there are a few things to note down about Long Island University's (LIU) financial aid system.
First, LIU does indeed offer a broad variety of financial aid opportunities, including scholarships, grants, work-study, and loans. However, how "generous" LIU's financial aid will depend greatly on your personal circumstances, including your family income, academic performance, and any extracurricular achievements.
To make sure you get the maximum amount of aid possible, start off by filling out the FAFSA (Free Application for Federal Student Aid) as soon as possible. It's required by most schools, including LIU, to determine your eligibility for different types of aid. The new FAFSA uses the SAI (student aid index) when determining financial aid. The SAI essentially shows how much your family can contribute towards your education per year, so knowing this number can help you get a rough idea of what you might be expected to pay.
If you are concerned about the cost, ensure to fill it out as soon as it comes out in October. Aid is often given out on a first-come-first-served basis, so this is one action you can take to potentially increase your aid.
Remember, different types of aid have different impact. Scholarships and grants are "free money" which do not need to be paid back, while work-study provides the opportunity to earn money to help cover your expenses. Loans, on the other hand, will need to be paid back with interest in due time.
Consider reaching out to the financial aid office at LIU. They have experience handling similar financial aid scenarios, and they have the added advantage of knowledge specific to the institution. They may be able to point you to additional resources or give advice tailored to your situation.
Finally, while applying for prospective students' scholarships, don't forget that there are also a number of third-party scholarships available every year. You can find these through a number of search engines available online, or potentially through your high school guidance counselor.
Remember each student's financial situation is unique, so it's important to explore all avenues and reach out for help when necessary.
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