<p>I applied to a school, got in. Cool. They sent me my financial aid packet, and scholarships+grants = ~30k... meaning I would have to pay 14k out of pocket/in loans. It also said in the packet that they try to get close to your EFC. Problem is, 14k is NOWHERE near my EFC (mine is much, much lower). I would still like to be able to consider this school as an option, I just can't pay 14k/take out 14k in loans. What should I do? Do i need to email the financial aid office? What should I say?</p>
<p>Are you saying that you got $30,000 in scholarships and grants? If so, if you completed the FAFSA, you should also be eligible for a Stafford loan $5500 for freshman year. That would leave you with $8500. If you work a summer job or two you should be able to earn $2000 at least…now you’re down to $6500. Can your family help you with $6500? That is not a lot of money to be paying for a school that costs $44,000 a year.</p>
<p>Many colleges do not meet EFC. Thumper is correct if your finaid included just scholarships and grants right now, you could take out the max Stafford which knocks out another $5500. Summer jobs can help pay for books and pocket money for the year. Best at this point to sit down with your parents and have a heart to heart about what they really can afford. If you’re into the 40,000 plus category of cost I’m assuming it’s a private school and the GAP is actually pretty reasonable for a private. If they cannot help you meet the costs you could always ask the college but that’s a pretty generous package hopefully you’ve got one of your state schools in the acceptance pile that is affordable.</p>
<p>What school is this? What is your EFC? Is this a FAFSA only school or did they also use CSS profile?</p>
<p>Did your FA package include a Stafford loan?</p>
<p>Many private schools include in their fa pkg a student summer contribution of about $2500, a Stafford loan ($5500 this yr for freshman), and work-study of maybe $2500. I know it’s not FREE $ (what I consider FA) but student contribution and loans are considered FA by most colleges - as it is a way of “helping” you finance college. Work-study is an extra way of earning spend $, books, travel expenses.</p>
<p>Looks like you were awarded $30,000 in free $, $2500 student EFC (student contribution from summer earnings), and a $5500 Stafford loan (subsidized I imagine). So, your real FA pkg was $38,000, leaving $6000 to account for. Was that close to your family’s EFC? Are your parents contributing anything? Remember, work-study will reduce that $6000 further, if you get/keep the work-study job. Plus some of the COA expenses can be reduced if you are careful (buying used books, limiting spend $).</p>
<p>Very few colleges meet students EFC.</p>
<p>You can ask for more money, but may not get it. Hopefully, you applied to at least one financial safety that you know you’ll be accepted to and can afford. Typically, such a school is a public one that you can commute to.</p>