<p>I want to attend Boston College, which claims to meet 100 percent need. According to CSS/FAFSA my EFC should be 0. Only my mother works, making about 20000 a year. However, my financial aid only adds up to about 44000 of the 61000 needed to attend for a year. Any suggestions? Boston College is the only option I have so I am quite worried, especially since the deposit deadline is so soon :(.</p>
<p>Call the school.</p>
<p>You do need to go over your package with a financial aid officer. Do you have a non custodial parent in the picture? Is there a family business involved? Are there a lot of assets, a house, maybe? </p>
<p>A zero EFC is expected with income below $20K. That’s an auto zero despite any assets you or your mother might have. But that is the FAFSA EFC. It does not go into small family businesses, non custodial parents, home equity or really any assets. When you filled out the PROFILE, additional info might have been asked about and taken into consideration. </p>
<p>A zero EFC makes you eligible for full Federal benefits like PELL ($5600), Stafford loans ($5500,). But that’s about it. Anything else is at the discretion of the school. They clearly identified some need as they came up with another $30K+ in aid over the federal entitlements, but there might be something else in the picture. Like does your family own apartments and rent them out for that income? </p>
<p>Or it could all be a mistake. You need to find out how your need was computed by BC. You should be looking at some local commutable state options, in case this does not work out.</p>
<p>My family does not have any large assets aside from income. I called the school but I have to wait for them to call back to discuss this. Since BC claims to meet 100 percent of need, I should be getting significantly more aid considering my family’s low income and assets, correct?</p>
<p>Do you have another living parent?</p>
<p>From the BC website:
[Special</a> Circumstances - Office of Student Services - Boston College](<a href=“http://www.bc.edu/content/bc/offices/stserv/financial/finaid/undergrad/how_aid_works/special_circumstances.html]Special”>http://www.bc.edu/content/bc/offices/stserv/financial/finaid/undergrad/how_aid_works/special_circumstances.html)</p>
<p>Yes, my father and mother live with me and are married. My father does not work. I also have a sister attending college.</p>
<p>Does 44000 includes any loans or work study? Do you live near by in Boston area?</p>
<p>Yes 5000 total in loans (Stafford+Perkins) and 2400 for work study. I live in New Jersey.</p>
<p>Do your parents own their home? Even with the difference in the way a school would split the expected contribution with two in college (FAFSA vs Institutional) it makes no sense that you don’t get more. Have your run your family numbers through BC’s NPC? Do so, if you have not.</p>
<p>Also, do your parents have a any pension assets, 401K,Ira, money set aside?</p>
<p>Family owned business?</p>
<p>Why do you say that according to CSS your EFC should be 0. CSS doesn’t give an EFC.</p>
<p>Either BC made a large mistake, or your family has assets or a family business with lots of deductions. Is your family of four really living on only $20k per year? Does your dad receive any kind of disability or any other income? </p>
<p>So, either BC made a huge mistake for a low income family with 2 in college, or there is money somewhere.</p>
<p>Sorry about the CSS comment, that was an error on my part.</p>
<p>My father does not receive any sort of unemployment and we have no large assets. Basically, according to my mother, we are living paycheck to paycheck. I am absolutely flipping out as I do not have much time left to pay a deposit.</p>
<p>So, when you say your family has no large assets, do you rent the home you live in? If your parents have been paying a mortgage on your house, then they may have significant home equity, which BC does factor into your need determination. They don’t say upfront how they factor it in… but I would imagine it could be what is causing the discrepancy between what your family considers your need to be and what BC does. The FAFSA does not factor in home equity, so it wouldn’t be reflected in your EFC, but could be what’s driving the college’s determination. If your parents own their home outright --which could explain how a family could be living on 20,000/yr-- then the value of the home could be weighed very heavily.</p>
<p>If your home has little or no equity (or you rent), and you have no other assets, you need to call BC and ask if a mistake was made because your income is too low to have that "family contribution.</p>
<p>You wrote this post on 4/25. That’s a week before you have to commit. I hope you have been in touch with the folks there to work this out. THese things do not tend to fix themselves. You and/or a parent need to be proactive. At this point, if you cannot get a resolution on Monday, I suggest you commit to a school you know you can afford, then call Admission at BC for an extension on that commitment, and then work actively to find out why you are not getting more in aid for BC. You might have been late in submitting papers, or incomplete which at some schools means losing out on full need guarantees. Whatever the reason is for your this award, if you cannot go on what it gives you, it has to be resolved. Otherwise , go to a school that you can afford and forget about this.</p>
<p>We can all guess, but only BC can come up with the reasons for those numbers.</p>
<p>
No other schools?</p>
<p>Do your parent have rental property (even though they may not be making any money from it)?</p>
<p>Does your family own their own business (even though they may not be making any money from it)?</p>
<p>Does your family own a farm (even though they may not be making any money from it)?</p>
<p>Does your family have money in the bank (even though this is money that they have set aside for their retirement)?</p>
<p>Is the 20k income based on them supporting other relatives?</p>
<p>You most likely will generate a low income verification because if your parents only have 20k in income, the school will want to know how they are supporting a family of 4 (with one kid in college)? Is the family receiving SNAP benefits or any other kind of supplemental help?</p>
<p>Does your sister have an EFC at her school (how is it being paid)?</p>