<p>Okay so, according to the financial aid policies of many of the colleges to which I'm applying, including Dartmouth, I have an EFC of 0. My parents' income is <60k. </p>
<p>In the case of Dartmouth, where I've gotten a likely letter, what does this exactly mean? I know they have a no loan policy, but I cannot imagine getting a free ride just because I have a relatively low income in regards to the average Dartmouth student. How/What would I have to pay?</p>
<p>Since they don’t offer merit scholarships, they will go off your efc and income. You will probably get a full ride or very close to one that involves students contribution of like a thousand for a year. </p>
<p>Sent from my SPH-D710 using CC</p>
<p>Okay, thanks! That’s amazing.</p>
<p>Our income was well under $60K when S was admitted to D. His financial aid package included work study, and a small loan element (the federally-subsidized ones, if memory serves). It is unlikely that you would emerge with NO debt, but it is likely that it will be low. Partly this may depend on the jobs you are able/willing to take and how much money you earn.</p>
<p>How would you receive a loan element when Dartmouth states they don’t do loans for <75,000 income people?</p>
<p>^ I believe they just instituted the no loan policy for families that make <75,000. I may be mistaken though.</p>
<p>Congrats on your likely letter. For Dartmouth financial aid , you must file both the FAFSA, the CSS profile and submit your information through the IDOC.</p>
<p>The financial aid policy is as follows:</p>
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<p>If your family makes less than 60k, what this means is that you will get a scholarship that will cover your tuition only (currently $43,872). </p>
<p>However, cost of attendance is $61,398 (direct billed expenses over the cost of tuition will be 14,214) Your financial aid documents will be used to determine the parent and student contributions. While Dartmouth will not put any loans in your financial aid package, it does not mean that you will essentially get a “free ride.” </p>
<p>If your parents cannot pay their EFC out of pocket, you and/or they may have to take out loans. If you do not make your student contribution from summer earnings (~$3,000), you may have to take out loans to cover your expenses (books, misc. expenses, travel). If your parents do not have adequate health insurance, you may end up getting a loan to cover half of the cost.</p>
<p>I can tell you from our experience, the policy is now similar to what it was when my D attended. While there were no loans in the financial aid policy, she graduated with a small loan from her study abroad (~3000, which her grandparents paid as a graduation gift, so she ended up being debt free when she applied to grad school). However, I still had to pay my EFC and she still had a student contribution from summer earnings that was her responsibility.</p>
<p>I attend Dartmouth a 0 efc and have 3,000 in loans and about a 3,000 dollar bill. Many first years who have received loans from the college in order to pay for the required health insurance or their laptops even if they make well below 75,000 dollars. Really try and get some scholarships or make a substantial amount of money over the summer, that will help tremendously.</p>