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Need help understanding my ED estimated package award

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Hello everyone, I'm a first generation student and my parents do not understand what they will have to pay. I just received my long due early decision estimated package for the 2016-2017 year. On my letter it lists: Federal Sub Stafford Loan, Federal Unsub Stafford Loan, Federal Pell Grant, Federal Supplement Grant, University and Alumni Award, and Federal Work-Study Program for fall 2016 and spring 2017. My total awards: $29K+$29K for fall and spring will total up to $58k. Does that mean they will cover up 58k of my tuition or I have to pay 58k?

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