<p>If you are eligible to receive Pell grant/ Stafford loan by FAFSA but your CSS EFC is high, can you still receive them? How are they affected by merit aid? (Difference in EFCs secondary to NCP's spouse income). Thank you!</p>
<p>FAFSA EFC is NOT affected by CSS Profile at all. Doesn’t matter what a CSS school determines. FAFSA is a fed form and EFC is based on it. So, if a custodial parent is low income and the EFC is low, then you get Pell.</p>
<p>IF CSS uses other assets (home, business, NPC info) to determine a different contribution than so what? The feds don’t care what some school determines.</p>
<p>Thank you for your excellent explanation! </p>
<p>Pell won’t be affected by merit aid. Merit aid, however, can sometimes be affected by Pell. For example, some schools that offer full rides will take the Pell into consideration - they will reduce the institutional portion of the scholarship by the amount of Pell as a way to best utilize their funding.</p>
<p>For example, if you live in a million dollar house, your CSS EFC could be high but not in FAFSA as primary residence is not counted as asset. Also, if the student receive financial help from relatives fo college, that is counted in CSS profile but not FAFSA.</p>
<p>Actually, if the student receives help for college it IS reported on the FAFSA for,the following year.</p>
<p>But back to the question. If your FAFSA EFC is below the threshold for Pell, you will receive it, regardless of what the Profile schools determine your family contribution to be. If your custodial parent has a very low income, for example, and your non-custodial parent has a VERY high income, a Profile school could easily compute your family contribution to be above the Pell threshold. </p>
<p>Hmm, thumper1, you raise a point I had not thought about. Say the NCP (me) pays 20k for frosh year (via Plus loan plus savings), is this then counted as student income for the following year? The custodial parent is disabled/ on disability income and has no assets so unable to contribute. My income is $140k and I’m remarried so combined with my spouse’s income, DS will not qualify for institutional aid. Thank you! </p>
<p>Loans are not counted, I don’t believe. Hoping someone else weighs in. Plus, you are a parent paying college costs.</p>
<p>But if aunt Gertrude gives money, I think that is different.</p>
<p>Just to clarify:
" If your custodial parent has a very low income, for example, and your non-custodial parent has a VERY high income, a Profile school could easily compute your family contribution to be above the Pell threshold."</p>
<p>Thumper1, so if the family contribution is ‘above the Pell threshold’, does that mean the Profile school can choose not to award it? I was under the impression from M2CK’s post that if you ‘qualify’ for Pell/Stafford then you will receive it, regardless of the Profile school’s determination of need. </p>
<p>Sorry to sound like I’m splitting hairs, but I read that for some grants, such as SEOG, even though they are governmentally funded, the funds are awarded to the school and then dispersed to the student at the institution’s discretion. Just making sure this is not the case for Pell/ Stafford. It wasn’t clear on the website. </p>
<p>The Pell is guaranteed by the government based on fafsa efc alone. A school can’t override that. SEOG funds are limited, Pell funds are not.</p>
<p>Makes sense. Thank you!!</p>
<p>What I was saying is that the Pell is based on the FAFSA efc only. BUT your Profile schools CAN compute a much higher contribution which they expect your family to pay. this does NOT affect Pell eligibility. However that Profile school could expect a LOT more in family contribution than the FAFSA efc.</p>
<p>I hope your family can afford the amount the Profile school expects.</p>
<p>Yep, swallowed that bitter pill a while back. I’ve used advice from this forum to help DS with his list and the only Profile school that offers no merit aid on his list is Boston College. I’ve explained the financial situation to him and if it weren’t a 568 group school, he wouldn’t even bother applying. Still, seeing as how I’ve heard it referred to as “Bring Cash”, I don’t think it’s a fruitful endeavor…</p>
<p>Keep in mind that “merit” gets applied to “need” and won’t get directly applied to “family contribution” to reduce that…UNLESS, the merit is so HUGE, that merit is so large that it covers all of need and then cuts into “family contribution.”</p>
<p>So…</p>
<p>$60k COA</p>
<h2>$40k “family contribution” from CSS</h2>
<p>$20k “need” </p>
<p>So…</p>
<p>if the child gets a $15k per year merit award, that won’t do anything to reduce “family contribution”. IT will just get applied to that $20k of need. :(</p>
<p>I’m realizing that I’m basically doing a lot of guesswork and won’t know anything until April. Have run the NPCs with just my data just to get a feel (for what ever that’s worth because of the blended family) and even those numbers vary by thousands.
Going on college visits this summer and would like to focus the time and money on those schools more likely to be on DS’s list of possibilities next April.
So here’s how I understand things so far. I’ll use real schools and plug in, perhaps meaningless, values on the money end for the sake of simplicity. </p>
<p>RICE U: COA (T+RB)= 51k, Profile
51k (COA) - 5,500 Pell - 5,500 loans- 10k merit (just hoping!) = 30k balance</p>
<p>BC: COA 59k, no merit, possible FA if just based on bio parents (if not it’s a no-go)
59k (COA)- 13k FA (Pell in there)- 5,500 loans= 41.5k balance</p>
<p>USD (San Diego): COA 53k , FAFSA
53k- 20k merit (estimate via website)- 21k (Pell + gift aid per NPC)- 5500 loans= 6.5 k balance </p>
<p>U of Miami: COA 58k, Profile school
58k-20k merit (?)- 5,500 Pell- 5,500 loans= 27k balance</p>
<p>Am I doing this right? I know it’s just guessing, but your guess is better than mine! 
</p>
<p>So basically, are you saying that your custodial parent has no income or has an income so low that there will be a 0 EFC? </p>
<p>Is your custodial parent collecting spousal or child support? </p>
<p>If yes, these monies must also be included on the FAFSA. Any monies paid on your behalf by your non-custodial parent will also have to be reported on the FAFSA.</p>
<p>If your custodial parent has remarried the stepparents info must be included on the FAFSA</p>
<p>Custodial parent is disabled on social security income. No child support (ex refused child support in lieu of spousal support/ alimony of 90k over 30 months and that was years ago). Custodial parent not re-married.</p>
<p>Kinbel, my very close friend was divorced some years ago,and her income was just about zilch. Her ex was surgeon making well into the 6 figure range and a millionaire when it came to assets. He refused to pay for the kids’ college costs,something she never imagined would happen as he was a big time education advocate, and was involved with the kids in school. What he told them and her was that they could go to the state schools and borrow, and he would pay off their loans when they finish. They could commute to the local state college. </p>
<p>My friend’s oldest was an excellent student, and did apply to a number of selectiv schools since her mother was low income, basically living off of home equity. I think they qualified for a zero EFC. But none of the privates, not a one that used PROFILE would give a NCP waiver, nor would they give her a dime in financial aid. She was accepted to BC, and a number of like schools, but as full pay, though she could get PELL and subsidized Stafford loans on her mother’s eligibility as custodial parent. Even back then it was just a drop in the bucket, and just not doable. She wanted to go to law school, and knew she had better not rack up the debt in UG because her dad just might not repay that either. Nothing in writing. So she commuted to the local state University, worked part time and essentially went for free on PELL, state monies, Subsidized stafford and some financial aid the school coughed up as they used FAFSA only. Her brother went to an OOS public that gave him some financial aid, and borrowed for the remainder . He also got PELL, and other federal goodies as well as some institutional money. His father did pay off his loans as well as his sister’s , but neither of them racked up much more than what a year at a private school would cost these days. As an aside, the daughter went to BC for law school, and graduated at the top of her class there and makes 6 figures at a top law firm these days. Going to local State U did not hamper her much, though she, to this day, wishes she had been able to go away for those four years.</p>
<p>So, your student would get financial aid for FAFSA only schools and those schools that do not ask for NCP financials (there are some, you have to check the list and it does change so you have to keep current), based on your income/assets as well as possible student income and assets. Your Ex’s finances would not come into play. BUt few schools guarantee to meet full need and few school meet it. My friend’s DD was a top drawer student and she still did not get full costs awarded at her local state university. She did not even get full tution awarded. Getting a full ride is difficult, especially at schools with name recognition They simply do not have to pay for students. One should give it a go, but understand that there is no guarantee that will happen. Your EFC should be viewed as the MINIMUM that you will have to pay before getting aid. Not always quite the case when low cost commuter options and PELL are involved, but as a general rule, that is something to keep in mind.</p>
<p>If your son has not had any support, contact or interest from your ex during high school years, I suggest he files a NCP waiver form at some of the schools. Each school has it’s own procedures and criteria for giving such a waiver, and what 's usually needed is statement from the school GC or other third unrelated, independent party, like a social worker, minister, doctor, etc. You and student should prepare a statement explaining why the waiver should be granted. I would not count on it being a go, but it’s worth trying, and there may be some schools that will grant this depending on your specific circumstances. My friend’s DD was turned down flat by all of her PROFILE schools for this, but I’ve known of some students who did get some granted.</p>
<p>Bear in mind that if you or your ex are currently married, in most cases all steps are included financially when the parents’ finances are required. FAFSA will require your spouse’s financials regardless of any agreement, contract, legal issue that says no such payment is forthcoming. PROFILE schools requesting the NCP info want it from the NCP’s spouse as well. That they won’t give the info is not ground for exception most of the time. I notice you refer to “bio” parents, but I don’t know a single school that allows the step parent’s financials to be excluded if s/he is the spouse of a parents’s whose financials are required. Not a one.</p>
<p>That your ex won’t pay for the students’ expenses, that the divorce agreement stipulates this, doesn’t make any difference when it comes to financial aid from colleges. The way it’s approached is that if that were the case, everyone would so stipulate to get out of paying and enhance the possibility of getting aid from the school. </p>
<p>BC actually guarantees to meet full need, and they have generously provided to a number of kids we know. But they do define the need, they want both parents’ financials, they do include loans and work study in the packages and require the student to come up with a contribution too That is not so unusual among those schools that meet a high % of need. </p>
<p>Thank you so much for the detailed info. </p>
<p>I am the NCP and am very active in my kids’ lives, so no NCP waiver. </p>
<p>I can commit to 20k(maybe 30k) per year plus 5500 loans and 5500 Pell. Looks like a working budget of 30k to absolute max of 40k. ( Left out work study and any outside scholarships to keep it simple)</p>
<p>Thus, have advised him not to apply to need only Profile schools because we can’t afford $60k/year. </p>
<p>DS has one FAFSA only school on his list of 10 schools.
Seven of the schools are Profile schools that require the NCP profile and offer merit aid. Not expecting full ride; possibly no merit aid at the more selective ones. No financial aid as they will add my spouse’s income.
One school (BC) offers no merit, is need only Profile school that requires NCP profile and is part of 568 group. If they only consider bio parents, like Pomona for example, then he would qualify for a a bit of Financial Aid.
Last school (Vandy) - kind of an outlier, Profile school, don’t require NCP profile but I plugged in my info anyway because I’m sure they’ll ask for it and net price calculator showed generous amount of aid (not going to bank on that though)</p>
<p>Hopefully I’m on the right track…</p>
<p>I don’t know if Vanderbilt does ask for any NCP info. They do not require the NCP PROFILE form to be filed, but you are correct that some of those schools that do not require official NCP supplement will still ask for NCP financials. I seem to remember Vanderbilt and USC as two major school that do not at this time, but I could be outdated or mistaken. I suggest looking at those school that do ask for PROFILE and do not ask for the NCP supplemental form and call the financial aid offices directly and ask if any NCP financial info is required, if the issue is not clearly addressed on the college financial aid website. Denison was another school, I recall that did not ask for NCP info at one time. Things are changing rapidly, so these sort of things do have to be checked when a student puts together his list and when he applies.</p>
<p>The fact of the matter is that most major colleges do not meet full need for most students and I don’t know a single one that guarantees to meet full need as defined by FAFSA. My friend’s son and daughter, even with zero EFCs had to come up with some money. Also, when you pay the costs freshman year, that may have to be reported as money the student receives from you for the following year. My friend’s ex was very shrewd and refused to pay penny one. It was all loans he gave the kids and he documented them through proper channels and verbally told them he would forgive them all and even pay the DIrect Loans, Perkins loans that they took when they graduated, which he did do… So if you pay the $20-30K freshman year, he could lose the zero EFC the subsequent year. Something you need to consider.</p>
<p>HOwever with up to $30k from you, $10K of federal entitlements, and if your student can work for another $4K a year during summers and school year, there are alot of schools that are good possibilities. My son’s budget was about that range, and he had a number of choices. He’s happily at a major OOS university which was his first choice. Some merit awards, commuter awards made some private schools affordable as well as any of our instate schools. He did not feel particularly constrained by our budget, though I did. I do wish I could have just paid whatever, but it just would not have been a wise financial move to make. It’s tough even coming up with what we are and have been paying. </p>