<p>if i went to Colorado as a non-resident and my EFC is zero how much Financial Aid should i expect to get? Also GPA is pretty high about 3.98 so would that put me in position for other scholarships 2? Thanks</p>
<p>Go to College Board, look up your school, check the financial aid link, and see what % of need they meet, and what % of finaid is loans vs. grants. That will give you some idea, as well as the full estimated cost of attendance for an out of stater.</p>
<p>Re: outside scholarships-- maybe. Lots of them out there. But be aware that you'll need to report any outside scholarships to the school, and they will reduce their need-based aid by that same amount (maybe reducing loans or work study, instead of grants- depends on the school). So merit scholarships may not be as advantageous for recipients of need-based aid as for other students.</p>
<p>Usually for public universities, their need-based aid goes to in-state residents. However, check the university's financial aid and scholarship web sites for specific info and also follow sblake's advice.</p>
<p>Let's start with the basics:</p>
<p>to piggy back on Sblake's post, according to the college board the cost of attendance for Colorado at Boulder as an out of state student is $37,119</p>
<p>with your zero EFC, the only thing that you would be "guaranteed" as an out of state resident attending Colorado would be federal aid:</p>
<p>pell grants max is $4050</p>
<p>SEOG ( based on if the school has monies available)</p>
<p>Subsidized stafford loan of 3500 (as a freshman)</p>
<p>A perkins loan of 4000 (if the school deems you to have a great need)</p>
<p>federal work study</p>
<p>an academic competitiveness grant of $750</p>
<p>another 4000 (unsubsidized stafford loan) if your parents are not eligible for a PLUS loan.</p>
<p>and we haven't even begun to address the issue that as a public university and you being an out of state resident, that they will not meet 100% of your demonstrated need.</p>
<p>Also take into consideration that their financial aid distribution is 45% grant aid and 55% loans</p>
<p>their largest scholarship is $15000 (chancellor scholarship), which is awarded to the top 25 percent of the admitted nonresident freshmen class is paid out over the course of 4 years; 5000 freshman & sophomore year, with 2500 junior and senior year.</p>
<p>if you get all of the federal monies and loans available to you it will be
$15,550. How will you make up the other $20,000 for freshman year alone?</p>
<p>No can match Sybbie's analysis, but to help make it clear, with a zero EFC your best financial aid will come from the better privates that meet 100% of need and are trying to attract low income students (ivies and similar). After that your own state schools.</p>
<p>looking over your post if it comes down to a choice between U of colorado and bowdoin (where you are still waiting and we have our fingers crossed for you)</p>
<p>Academically, I would chose Bowdoin hands down (don't worry about the man on the street opinion as those who need to know, professional and graduate schools, and east coat business, will know the school and the caliber of student it turns out).</p>
<p>Financially, I would choose Bowdoin hands down because you would graduate close to debt free, which is a very freeing concept and gives you a lot of choice about the next part of your life.</p>
<p>"How will you make up the other $20,000 for freshman year alone?"
lol im not expecting to go to college free here im just tryin to get into account of how much money i will be getting. and paying $20 or so grand is a lot better than 38 grand</p>
<p>Thanks everyone</p>
<p>Yes, but 20K alone first year whill be at minimum, 80k (maybe more because your loan limits go up year over year) at the end of 4 years and cam be come a very crippling when you are looking to plan the next stage of your life, especially if it concerns attending professional school where all of this debt is taken into consideration.</p>
<p>I would never advise my kid to even consider taking on this kind of debt for undergrad regardless of the school.</p>
<p>adidasjed -- with a zero EFC, how will you come up with $20,000? I think you can do better than paying that kind of money (I am assuming some type of loans?).</p>
<p>I attend one of the UC's and I will tell you that the school itself will include the max stafford loans along with other grants and work-study. They will not provide loans to cover what they gap.</p>
<p>See what the FA package looks like -- you may get a merit scholarship and that would make a big difference</p>
<p>sybbie719 i hate to do this right now im not tryin to get at you or ne thing but... Right now im just proving that your Stats do not always work out. Right now WITHOUT and I MEAN WItHOUT my FINACIAL AID, this is based soley on MERIT Scholarships (no loans, no federal stuff) to Colorado i got 15,000 dollars a year that is almost half the tuition. and again this is without the Federal grants and loans. Im just saying that the big stats dont always come out so neatly.</p>
<p>
[quote]
Right now WITHOUT and I MEAN WItHOUT my FINACIAL AID, this is based soley on MERIT Scholarships (no loans, no federal stuff) to Colorado i got 15,000 dollars a year that is almost half the tuition. Im just saying that the big stats dont always come out so neatly.
[/quote]
</p>
<p>Ok, congratulations on your merit scholarhip.So Colorado gave you $15,000.</p>
<p>You have a "0" EFC which means you have a financial need of 37,119 (based on their current cost of attendance according to the current data on the college board. Your individual mileage may vary).</p>
<p>The college board also states that colorado packages their aid on average 45% scholarship grant aid, and 55% loans, Not counting federal money (because your federal money will go wherever you go) if you do the math, *the $15,000 scholarship represents 40.4% of your demonstrated need (15,000/37119) which they met with scholarship/grant aid. So it sounds like they did on average what they said they would do. * Statistically it sounds pretty on point.</p>
<p>Now riddle me this regarding your scholarship:
[quote]
Is it automatically renewed each year though out your undergrad career?</p>
<p>Is the amount the same? Is there an opportunity for more? Will it be cut?</p>
<p>What is required to keep it? It it attached to a major or a GPA requirement?</p>
<p>If it is attached to a GPA requirement, is it a phase in period before reaching the GPA or does the requirement kick in from day one?</p>
<p>Would the GPA seem onerous, something like 3.75gpa to keep merit (remember college is not high school, so while you may have cruised to a 4.0, colleges do have weed out courses, life happens and it could be a little harder getting that 4.0).</p>
<p>If you don't make the gpa requirement is there a probationary period (one term) to bring the grades back up or is the merit money iimmediately taken?
[/quote]
</p>
<p>Now back to the story</p>
<p>Cost of attendance is 37, 119</p>
<p>Your EFC is still "0"</p>
<p>Demonstrated need is 37, 119</p>
<p>Your got a merit scholarship of $15,000</p>
<p>Again, If you still get the maximum federal moneis </p>
<p>pell grants max is $4050</p>
<p>SEOG ( based on if the school has monies available)</p>
<p>Subsidized stafford loan of 3500 (as a freshman)</p>
<p>A perkins loan of 4000 (if the school deems you to have a great need)</p>
<p>federal work study</p>
<p>an academic competitiveness grant of $750</p>
<p>another 4000 (unsubsidized stafford loan) if your parents are not eligible for a PLUS loan.</p>
<p>Not counting SEOG (because you never know how much of if you get this money) This adds another $16,300 in federal monies to the pot. </p>
<p>Now you are at $31,300 (84.3% of your need met), which includes $11,500 in loans (your stafford loans will go up year over year to $4500, 5500, 5500) </p>
<p>If your financial situation does not radically change</p>
<p>Sophomore year $12,500 (minimum in loans)
Junior year until you graduate- 13,500 a year minimum in loans (perkins maxes out at 20K)</p>
<p>Right now at minimum, you will graduate with $51,500 of debt from federal loans alone (for your sake lets really hope I am wrong)</p>
<p>There is a current gap of $5819 This year. Which you will have to find either outside scholarships to fill this gap or guess what , more loans to fill the gap.</p>
<p>If you have to go the loan route, you are talking about another ~ $22k of debt (filling the gap) putting you at over $70k in undergrad debt. Hopefully you will be able to find other alternatives, example being a RA (with hopefully free room) and taking on a job to cut down on some of these expenses.</p>
<p>But hey, I ain mad at ya, because if you want to take on $70k in undergrad I don't have a nickel in your dime, and you are not my kid (who btw, will graduate with less than 10K in undergrad debt that to being at school that gives really generous financial aid and most of it being grant aid, and is finding this to be really important now that she is looking at Law schools).</p>
<p>I am just trying to pass on information so that you can make an informed choice that will leave you with options down the line. But you know what they say, if you think the cost of education is expensive, try the cost of ignorance. Ahhh to be 17/18 years old again and have all the answers.</p>
<p>all the best to you.</p>