FAFSA: Loans? Grants? Both?

Question:When I filled out my FAFSA, one of the questions was:

"In addition to grants, indicate your interest in other types of student financial aid.

Work Study
Student Loans
Both work study and student loans
Neither"

I checked off "Both work study and student loans". So, a couple of months later, my financial aid award was

$1,000 Pell Grant
$3,500 Stafford Loan

I'm wondering what would have happened if I had chosen "Neither". Would my entire award be composed of just grants ($4,500) ? Or would I only get the $1,000?

What should I answer for the coming school year?

Answers:
If you would have chose neither than most likely you would have to come up with that $3,500.
well, I would only choose the grants. Of course if you checked out the loan, you'd have to pay them back...and I don't want to do that yet (and because I go to community college, which is much cheaper than state or UC). The FAFSA really depends on your income, as well as your parent's income (unless you live by yourself - rent and stuff). Since I'm a full student without work and my mom doesn't get paid much, I get the full benefit of financial aid (really sweet, I even get allowance from them). If you are NOT going to a community college and would like to dorm, then you'd probably have to get a loan. Or, if your parents are wealthy enough to pay for you.
I think you should still say you're interested in work study and loans (if you need loans). It sounds like you're pretty much in my situation. I didn't qualify for any financial aid because of my dad's high income, even though I paid my own way through. At least you got the Pell grant; I didn't even get that. I had a scholarship that covered a lot of it, and supplemented with work study and small loans. Good luck!
I'd check both, because if you get them and don't want the loans, you can always decline them. You want to keep your options open in case your financial situation changes.

Work study is highly desired, so even if you put that you're interested in it, they're hard to get. I've done the FAFSA for three years and I just got work study this year.

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