<p>Our EFC is $10,500 and UVM charges $41,000 annually. If my son and I and my ex can meet the EFC or a bit more, what does the aid package typically look like? Do they actually offer $30, 500? And if they do is it reasonable to expect it will be heavy with federal loans? Or it unreasonable to expect anything for there is no formula and every package is unique? HELP. Just worried about $100,000 in loans is a bit oppresive :( eric</p>
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Not unless they are one of the very few wealthy and generous schools that promise to meet full need. The majority of schools do not.</p>
<p>Are you talking about the University of Vermont? If they are charging $41k then I am guessing your student an OOS student for UVM? State schools can very rarely meet full need for even their own instate students. It is highly unlikely they will offer anywhere near $30,500 in aid I am afraid. As far as federal grant aid is concerned your EFC is too high (cut off is 4617 EFC for the Pell). As a State U they probably do not offer much in the way of need based institutional grants. Hopefully your student qualified for some merit based scholarships. For federal need based you are most likely to see Stafford loans (in the student’s name) of $5500, the max for a freshman, and possibly work study depending on the school’s policy.</p>
<p>The EFC does not mean that is all you will be expected to pay unless it is one of the few schools that promise to meet full need. It is a number used to determine eligibility for federal grant aid (and yours is too high) and for other aid such as loans.</p>
<p>I sincerely hope your student has applied to some financial safeties such as your own state U, that will be affordable without the large loans that you are likely to have at UVM. Do not take out $100k in loans.</p>