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Savings and Loans/Financial Aid

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Savings and Loans/Financial Aid [#permalink] New post 07 Mar 2011, 11:18
Hi all, I've been hearing some info floating around between my friends that having a decent savings account will decrease the amount of aid/loans that you'll be given for an MBA. I'm not sure this is true or not and I haven't been able to find any useful information online. Any ideas?
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Re: Savings and Loans/Financial Aid [#permalink] New post 07 Mar 2011, 11:29
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This may be a good place to start: fafsa-strategies-75251.html
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Re: Savings and Loans/Financial Aid [#permalink] New post 10 Mar 2011, 11:05
Generally no. It might decrease your chance of getting a subsidized Stafford loan, but you have to be making a really low salary to qualify for those anyways. Most people only qualify for unsubsidized. Most scholarships are not need based so doesn't affect those. The school will let you borrow through them up to the max cost of attending (less any scholarship money they give you).
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Re: Savings and Loans/Financial Aid [#permalink] New post 10 Mar 2011, 11:58
You might find this website helpful. It forecasts your EFC and how much you can expect in aid:

https://fafsa.ed.gov/FAFSA/app/f4cForm
Re: Savings and Loans/Financial Aid   [#permalink] 10 Mar 2011, 11:58
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