Someone from financial aid explained it to me, and how I understood from her explanation we can end up just paying the local fees of the school. For my school that would be around $400 instead of paying the regular $3000+.
I'll try to get a more clearer understanding and maybe I can ask her to type it out and I'll post it here.
It will be yearly, I believe, but they said there's still a lot they don't know about it so I'm not sure.