We have all heard about the millions of dollars of unclaimed scholarships, but there are also hundreds of thousands of missed grant dollars for low and moderate income students who do not complete the financial aid process in a timely manner. A set of examples, illustrating this point, follows. These examples clearly show the consequences of filing the FAFSA and/or not finishing the financial aid process early. Help us help you by filing the FAFSA early and turning in any additional paperwork as quickly as possible.

Examples of Grant Aid Awarded to Students

Student A

• Family income of $20,000
• Family size of 4
• EFC of 0
• Is a North Carolina resident for tuition purposes
• Completed the FAFSA on February 10th
• Completed the financial aid process with Western on April 1st

The grants, i.e. free money, this student could expect to receive are as follows:

• Federal Pell Grant $4,050
• Federal Supplemental Grant $1,200
• UNC Need Based Grant $1,880
• State Incentive Grant $ 700
• WCU Tuition Grant $ 450

Total free money $8,280

Compare the total with the cost to pay tuition and fees, the standard meal plan, and the standard residence hall room for 2006-2007, which equals $9,211. Student A would only need an additional $931 to pay for school for two semesters.

Student B

• Family income of $20,000
• Family size of 4
• EFC of 0
• Is a North Carolina resident for tuition purposes
• Completed the FAFSA on May 1st
• Completed the financial aid process with Western on June 1st

The grants this student could expect to receive are as follows:

• Federal Pell Grant $4050

So late filing in this case has cost the student $4,230 of free money!

Here are examples of a family with moderate income:

Student C

• Family income of $51,000
• Family size of 4
• EFC of 4299
• Is a North Carolina resident for tuition purposes
• Completed the FAFSA on March 15th
• Completed the financial aid process with Western on April 15th

Although this student doesn't qualify for federal grants, the grants this student could expect to receive are as follows:

• UNC Need Based Grant $3,400
• NC Lottery Scholarship $2,400
• WCU Tuition Grant $ 450

Total free money $6,250

Student D

• Family income of $51,000
• Family size of 4
• EFC of 4299
• Is a North Carolina Resident for tuition purposes
• Completed the FAFSA on May 1st
• Completed the financial aid process with Western on June 1st

The grant this student could expect to receive:

• NC Lottery Scholarship $2,400

Late filing in this case cost the student $3,850 in free money!