Financial Aid Scenario 1
Student Scenario 1: Sample Student "Michael"
Academics and Family:
Michael is from Kokomo, IN and is graduating from high school with his Academic Honors diploma. He has a combined SAT score of 1150 in the critical reading and mathematics and is the top 20% of his class. Michael's academic record qualifies him for the $1,000 STAR Scholarship. He will be a full-time student taking 12 credit hours per semester at IU Kokomo. He lives with his sister and parents who earns $60,000 and has $15,000 in assets:
Expected Family Contribution: $7,232
Financial Aid Package for the 2010-2011 school year:
- $1,000 STAR Scholarship
- $3,500 Federal Direct Subsidized Loan
- $4,500 Total Assistance
- -$5,946 2010-2011 Estimated IU Kokomo tuition, fees and books
- $1,446 Remaining balance due after financial aid
Michael was notified and had the option to borrow an additional Federal Direct Unsubsidized Loan of $2,000.00 for the aid year and the option of a parent PLUS loan.