<p>My EFC= 0 % and Oberlin College sent me an estimate and they are covering all but about $7000 which can be covered by loans/work study/other scholarships</p>
<p>Hi, this is my first post here.</p>
<p>We also have a $0 EFC. My Son was very disappointed that he got into all of his top choices last year, but none of the aid packages were within our means. They all met our need 100%, but included loans between $8-32,000(which I'm sure would have only increased over time) and merit scholarships that required 3.0 - 3.5 GPA (which made me worry, since if he lost the merit aid he would have to transfer out). He ended up at 3rd tier state school, which gave him nearly a full ride and accepted all his AP credits...instant sophomore! So while it wasn't ideal, it can work out. </p>
<p>We learned the hard way about aid packaging, wish I would have found this site sooner. Hopefully D will fare better next year as we are researching more options.</p>
<p>Something I want to point out...</p>
<p>It is still a far better deal (in most cases, with an exception or two listed above) to take out 10, 20, or even 30,000 dollars in loans, since on average, the college graduate makes $1,000,000 dollars more than the HS graduate. Just my two cents...</p>
<p>P.S. I also have an EFC of $0 and have been accepted to Oklahoma, where (hopefully) I will get the NM package. GLTA my fellow strugglers!</p>
<p>BEG TO DIFFER WITH YOUR OPINIONATED EXPLANATION: MY HIGH SCHOOL WAS ONE OF THE POOREST IN STUDENT DEMOGRAPHIC AND SEVERLY UNDERFUNDED IN FINANCES. WITH THAT IN MIND OUR GRADUATING CLASS OF 2004 INCLUDED 6 HARVARD ACCEPTEES, 2 YALE, 1 STANFORD AND 2 MIT ACCEPTEES. ABOUT 61% OF THESE APPLICANTS WERE SUPPLIED WITH NUMEROUS GRANTS AND NEED BASED SCHOLARSHIPS. A FRIEND OF MINE WHO HAPPENED TO LIVE IN A TRAILER PARK WAS ACCEPTED TO HARVARD WITH ALL EXPENSES INC. BOOKS AND TUITION.</p>
<p>That's an incredible amount of students, and bravo to them. What type of course load did these kids have...ie., did they have APs?, and what type of ECs did these kids do? I'm just interested because it could give the rest of us alot of inspiration, and maybe a methodology.</p>
<p>Trvsdring, there are ways to get a college education without necessarily taking out loans. The problem I have seen are with kids who want to go to a more expensive college than they and their families can or want to afford, and they take out exhorbitant loans that are not going to be made up by the difference between that particular school and a much less expensive one. Especially if the student is going to a program that is not held a lot higher in esteem than the cheaper school, and if the student is not particularly a good student anyways. To be a "C" student graduating from a private, but not well known business school is likely to bring in enough differential in income to pay off the loan differential between some public and private schools.</p>
<p>OP, don't listen to Northstarmom, he is just one of those middle class parents who're jealous and angry that poorer family's kids are going to college for free while he has to cash out 46k a year for his own kid. This is the redistribution of income at work and if your family is financially challenged, it is indeed a great occasion to rejoice. The top 30 schools in USNEWS are all ABSOLUTELY need blind, and 5 schools (one of them, I'm proudly to inform, is Yale) have policies of eliminating EFC completely if your fam earns under $45,000 a year.</p>
<p>To the above poster...wow...For one, Northstarmom is a woman if you can't tell by the mom part...For two, if you've been around this board much, you would know that Northstarmom gives good advice most of the time. For three, eliminating EFC completely is often done by a COMBINATION of loans, grants, and work-study programs.</p>
<p>And remember too...acceptance into those "need blind" schools that meet "full need" is HIGHLY competitive. To be honest, getting accepted is harder than funding the schooling if you are accepted. NSM is very accurate in her advice. There are lots of ways to fund a college education. For some, that EFC of $0 will certainly garner some significant aid. However, my very big bet is that there are FAR more students with $0 EFCs who are not competitive for those top schools (and therefore full need met) than there are students who are accepted and receive "free" educations. The notion that a $0 EFC translates into FREE college is simply not true.</p>
<p>Yeeouch....</p>
<p>Everyone here is bashing $0 EFCs like they are no good, can't afford anything ever, and don't deserve a good education because they obviously never received a chance to go to a prestige private school.</p>
<p>---and the remarks that they, no we, should first go to a community college are insulting in my opinion.</p>
<p>Just because we are poor doesn't mean we are going to make bad financial decisions and get rejected to every college to which we apply... what happened to socioeconomic diversity?</p>
<p>Plainly stated, this thread really makes me angry. Isn't the reason why we all go to college is for a good education to get a job to make money?</p>
<p>I have seen no 'bashing' of 0 EFCs...and to the "can't afford anything ever"...not that poorer people can't afford anything ever, they just can't afford much while they're poor. I think you need to read this entire thread. What people are saying is that MOST 0 EFCs will NOT get free college. And the smart ones are NOT in a better situation. I believe all people who can go to college, should go to college, income aside; but if this means taking a 40k loan that you have no means to pay currently or going to your state school that gives you a good package, then put your prestige-desiring aside.</p>
<p>I also don't see anyone bashing zero EFCs - just people correctly pointing out it is no magic carpet to a free ride. Yes there are schools that are need blind and will meet 100% need. But they are in the minority and difficult to get accepted into. I don't recall the OP ever saying he had been accepted to one. We have a lowish EFC which will get us some much appreciated grants and D also has some scholarships and the rest will probably be loans. But college will certainly not be free for us or probably the OP or the majority of people with low or zero EFCs.</p>
<p>Jillpod what post have you been reading? I've been following this one quite closely I don't see anyone attacking people with $0 EFC. We're offering realistic advice to those people who do.</p>
<p>
[quote]
Not at all true. Probably most students who are poor lack the academic background and scores to get into the highly endowed colleges that give excellent deals to poor students. This is because: 1. Those colleges may accept as few as 10% of their applicants; 2. Since the quality of public schools depends on property taxes, most poor students go to some of the country's worst schools and consequently lack the academic background and guidance counseling to get into those competitive colleges with excellent financial aid.
[/quote]
</p>
<p>Is this going to change a bit because of the No Child Left Behind Act? I am just wondering.</p>
<p>Lol no...that act is useless...Schools that have low-performing students actually get LESS money....it's such a ridiculous concept...it's supposed to be incentive to get the teachers and administration to do better...But the real problem is that these schools suffer because they already don't have adequate funding, and on top of that, because of the No Child Left Behind Act, their teachers change all the time.</p>
<p>Shucks, then mmkay! I was just wondering. Then again, I live in a city with some of the highest property taxes going and some of the worse schools ever. So, go figure!</p>
<p>what is wrong with having Loans or Work be part of your aid?</p>
<p>0 EFC is good if your full need is meat, even if some of that is loans. I dont see why the school or the govt should have to pay out in full for a student to attend college, taking out a portion of their need in loans is acceptable in my eyes. </p>
<p>i will be graduating with about 10k in student laons and 25k in credit card debt. (long story abou that part)</p>
<p>but anyways, since all my stuff is at very low intrests, its like graduating with 35k of student loans (in terms of interest) ..... Which is fine by me, b/c otherwise i wouldnt be able to go to the school i chose. </p>
<p>If your poor, your EFC is 0 and you want to go to a specific school that only meets your full aid with loans, then go for it, as long as you see the amount of the loans as something worthy to you. </p>
<p>Also, get a job........ i cant stand the college students that complain about how hard it is to be in school and to afford school and yet they all have no job.... </p>
<p>If you do it right, a 0 EFC can be used to your advantage.</p>
<p>I for one, would not be going to UCLA if our efc was not 0. ... i would end up having to go to UCSD b/c its close tohome...</p>
<p>you're right that having some loans is okay...Only 10k in loans is actually really good. i think most people are saying, don't get fooled by full need-meeting schools that give 50% (of their 40k tuition) in loans.</p>
<p>I agree with mmkay. A reasonable amount of loans is fine. Anything under $20K wouldn't worry me too much. I worry about kids that are talking about graduating with $50-100,000 in loans though. That is a heck of a debt to start life with. And if you look through other threads you will find a lot of kids accepted ED to expensive schools who thought they would get good aid and are in shock at what they get. i.e. big gaps or large loans. So it is good to be aware that aid may not be quite what is expected so that there is a plan B. Though it might be a little late for this round of applicants.</p>
<p>I vehemently agree with Jillpod. </p>
<p>Mildred, which city would that be?</p>
<p>I share Jillpod's complaints. Some of you rich snobs here are just plain upset that poor families' kids can go to college-- GOOD colleges-- thanks to 0 EFCs. I'm sorry that your own silverspoon-fed child didn't work hard enough to get into HYPSM and now you've to pay the full price to some tier 2 school like NYU, while some Kansas farmboy or poverty stricken Asian American teen got into Harvard with full tuition. But don't hate. Maybe you shouldn't have sheltered your own spoiled-rotten kid like a little prince all his life.</p>