Bob's Case Study
Bob is an athlete at RMU. The family has 3 children in college and has
an EFC of 14390. His financial aid package illustrates the new stacking
policy for athletes at RMU. (Stacking permits a student athlete to receive
both academic and athletic aid). Ryan’s financial aid package
consists of:
|
|
|
Direct Cost
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$28,520
|
|
Awards
|
|
|
Merit Award
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$4,000
|
|
Resident Grant
|
$3,000
|
|
Football Award
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$11,000
|
|
Stafford Student Loan
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$3,500
|
|
Total Funding:
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$21,500
|
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Balance Remaining
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$7,020
|
|
Bob and his parents decided to utilize an alternative
educational loan to cover the balance and books. Bob is
the borrower and his parents are the cosigners. Repayment
on the $8000 loan will begin six months after graduation.
(Back)
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