<p>I know I'll be accepted into Boston College, but I won't be receiving any merit money. I'm only qualified for about $6,000/year from the FAFSA. This means I'll be left to pay about $200,000 by myself. However, The Washington Post wrote that the average debt of Boston College graduates is under $20,000. Is there something I'm missing?</p>
<p>Source: Ten</a> pricey colleges that don?t leave you in debt - College, Inc. - The Washington Post</p>
<p>
What is the $6000? EFC? Pell grant? Federal Loans?
Did you receive the financial aid award letter to tell you that?</p>
<p>BC may not be affordable for you.</p>
<p>I’m only qualified for about $6,000/year from the FAFSA. This means I’ll be left to pay about $200,000 by myself. However, The Washington Post wrote that the average debt of Boston College graduates is under $20,000. Is there something I’m missing?</p>
<p>Yes, you’re missing that amount that your parents are expected to pay. </p>
<p>If you’ve used the BC’s NPC, and you know that all you’re getting is about $6000 in aid (loans?), then that means that your parents are high income and they’re expected to pay. If your parents are choosing not to pay, that’s not BC’s problem and they’re not going to give you more aid.</p>
<p>BC won’t likely be affordable to you since you can’t borrow that much. As a frosh, you can only borrow 5500 dollars. To borrow more would require qualified cosigners and is a bad idea…</p>
<p>Students at BC with lowish loans either have parents paying or they qualifed for lots of need based aid.</p>
<p>BC also uses CSS Profile to determine aid.</p>
<p>*I’m from Baltimore and looking for colleges similar to Fordham and BC. I got straight A’s last year (my junior year) and have roughly a 2000 on my SAT. I can get into BC</p>
<p>I know I’ll be accepted into Boston College</p>
<p>*</p>
<p>BTW…how do you know for sure that BC will accept you???</p>
<p>BC regualrly turns down kids with your stats from our school and the school sends about 10 kids there each year, so it’s a regular. BC is not a sure thing for you by a long stretch. A good match, yes, but that means an even chance and you just never know.</p>
<p>BC does guarantee to meet need using PROFILE to determine it. It is not a no loan school, so aid packages oftdn do include loans. And work study. </p>
<p>Where are you getting that BC or any place will be giving you $6K? Are you using BC’s NPC? </p>
<p>FAFSA is just an application for federal funds. They don’t give out any money. THey calculate what is called an EFC , Expected Family Contribution, and that number is the LEAST your family will pay before getting any federal fund, including subsidized student loans. It doesn’t guarantee any thing other than PELL funds if your family EFC is very low (like under $6k or so–a zero EFC translates to a $5600 Pell grant from the federal governement) All freshmen cleared by the FAFSA can borrow up to $5500 with up to $3500 subisidized if there is any defined need ( College official COA, which is Cost of Attendance, minus EFC is defined need) Most schools will package all or at least the subsidized part of that into their financial aid package so you don’t often have that on top of what a college gives you out of their own funds. </p>
<p>Your parents can apply to borrow through the PLUS program which are direct college loans, but the DIrect Loans of $5500 are all you are guaranteed on you own. </p>
<p>You can run your numbers through Fordham’s NPC and it will give you an idea of what kind of merit money you might get from them.</p>
<p>What the post was meant to ask was whether BC will give significant enough financial aid to get me under $30,000 in debt. The Pell Grant will give my family $6k, but that’s nothing compared to the $56k price tag. Obviously, I can’t say I’m sure I’m getting in. It’s theoretical, but if I get in I want to know. Thanks for trying to answer, I guess, but “take the rest in loans” or “you’re probably not even getting in” doesn’t really constitute an answer in my mind.</p>
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Have you? NPC will estimate the financial aid from BC.
It should give you a lot of aid if you think you’ll get that much of Pell grant. High Pell grants generally means your EFC is very low or zero.</p>
<p>Use this to estimate your aid: <a href=“Net Price Calculator”>Net Price Calculator;