I received an assistantship by the skin of my teeth - phew! But this opens up a new list of questions. For those who have had assistantships before, or who are more familiar with how assts work w/fin aid...
* my understanding is that if the asst pays tuition and a modest stipend, but doesn't cover all cost of living expenses, loans via fafsa can compensate for this. But is the stipend considered to be "income," or is it considered to be student aid? E.g., if the cost of attendance is $30,000, and the asst. package is worth $20,000, do fafsa loans then cover the rest of the $10,000, or does it compensate more because the stipend is taxed?...
Sorry if this has been addressed elsewhere. I'm just trying to figure out how funds are assessed, etc., and need to figure out how to budget until September for moving ,etc. As the asst stipend is taxed, I wasn't sure how it was classified. I've e-mailed my school's fin aid office and they haven't yet responded.
Thank you!