<p>So I have completed the Fafsa and Tap forms and the EFC = 0, after attending a financial aid workshop supposedly this is the best situation to be in to get the most money...I'm curious to know though if anyone has had an EFC of 0 and still had a very large gap in their financial aid packages?</p>
<p>Mine was a little off, but since i qualified as an independent (i was able to get more in loans) i was able to fill that gap</p>
<p>Very few schools meet 100% of need. People with a zero EFC typically have few college choices unless they are top students who get into the few colleges that meet need. If you can qualify for one of these schools, you will not be gaped. Also focus on those with no loan policies if you are in that category.</p>
<p>My daughter has a 0 EFC. At her State university the COA is around $20,000. Her need is fully met but only because she has a large merit scholarship (no need in it) that waives all her tuition and also covers some other expenses. Without that she would have a Gap in her aid even with maximum Stafford loans and work study in her aid package. (she currently has minimal loans).</p>
<p>I have an EFC of 0 too. The only school that will meet my need fully is the one that gave me 15k a year plus they’ll me giving me some money with state and federal aid. </p>
<p>I think there will be a gap for my # 1 school though. Ii might have to depend on outside scholarships to fill the gap.</p>
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<p>So I have completed the Fafsa and Tap forms and the EFC = 0, after attending a financial aid workshop supposedly this is the best situation to be in to get the most money…*</p>
<p>**That workshop is giving students bad info. ** It assumes that all colleges have the money to give free educations to low income kids. In reality, only a few have that kind of money. Most schools can only give federal aid, which is not nearly enough to pay for COA (Cost of Attendance - tuition, room, board, books, fees, misc).</p>
<p>Unless you get accepted to an elite that meets needs without loans, or you qualify for merit money based on stats, you likely will have a gap in your aid package.</p>
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<p>The vast majority of outside scholarships are only for one year. Students have to be careful here–what happens for the other 3 years?</p>
<p>I applied to mostly renewable ones. Plus if I just cant afford my #1 I’ll just go where I have a full ride. I wouldnt be happy but the fact that I have a free education would cheer me up:)</p>
<p>IB…where do you have a free-ride? How did you get that? :)</p>
<p>I got it for University of NC- Chapel Hill. Not a big fan of the south so i dont want to go there.</p>
<p>Wow…UNC-CH…great school. Have you visited?</p>
<p>What scholarship did you get?</p>
<p>I have seen at least 50 students with EFC of 0 (last year, and it will be no different this year) and their gap generally ranges from $3,000 to $15,000 or more. Just because anyone has a Zero EFC, as has been said above, does NOT mean a school will meet your need. EVERYONE, right now, start saving money–around June or July it will be clearer what your FA packages will be, what scholarships you will receive, and so forth. Until then SAVE, as it is soo sad when you cannot pay the bills for the place that accepts you and you want to attend.</p>
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June or July? Most colleges want / expect a decision by May 1st…and sooner if you want a decent choice in rooms.</p>
<p>You might want to search for my other comments on other EFC=0 threads. Basically, no, it doesn’t mean that you’ll get a free ride, but yes, you can do well, especially if you make sure you apply to a range of schools, especially ones that you’re a strong match for <em>and</em> some that you’re a reach for, if they meet 100% of need. My son got to choose from multiple free rides. I don’t pay to attend my school, and we’re hoping my daughter will have the same experience. </p>
<p>If you have reported your FAFSA to all the schools you’re applying to, then usually you will get an aid award with your acceptance, in March/April – that doesn’t happen in June or July, because schools know you have to accept by the May 1 date. Some schools send the award after the admission offer, but not that far after; you’ll always know before the May 1 date, unless there’s some sort of problem with your FA documentation.</p>
<p>You’re going to get a lot of advice from parents who don’t have an EFC=0 and who, while sometimes helpful, are sometimes also a little biased, or at least inexperienced. I urge you not to lose hope, and to take all the advice with a grain of salt. You’re going to hear that a full ride – or at least aid packages you can reasonably accept – are few and far between. The truth is that while they are uncommon, they’re more common than the dire predictions of some parents. If you have questions, feel free to message me and I can help you out.</p>
<p>A 2008 list, before the melt-down (beware of possible changes):</p>
<p>[Schools</a> That Say They Meet Full Need - US News and World Report](<a href=“http://www.usnews.com/education/paying-for-college/articles/2008/09/05/schools-that-say-they-meet-full-need.html]Schools”>http://www.usnews.com/education/paying-for-college/articles/2008/09/05/schools-that-say-they-meet-full-need.html)</p>
<p>If you’re a NY resident, the 0 EFC will mean a full Pell grant ($5350 this year), full TAP ($4998 this year), and makes you eligible for ACG ($750 for freshmen). The schools may also offer FSEOG, Perkins subsidized loans, work study, and SUSTA grants (for SUNYs only) - those amounts are up to the school. They may also offer institutional need-based grants or merit scholarships but, as you know, that varies widely. All freshmen are eligble for up to $5500 in Stafford loans of which $3500 may be subsidized.</p>
<p>I have seen many EFC 0 FA packages that met full need with only the typical Stafford loans. I would suggest applying to as many local scholarships (Dollars for Scholars, etc.) as possible to help cover all the one-time costs like new computer, dorm room set up, etc, to keep loans as low as possible for the first year. I know it’s a pain to do more apps and essays after all the college applications but these smaller scholarships can add up quickly!</p>
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Is everybody in the family going to school for free? Congrats on keeping your EFC at 0.</p>
<p>Be aware…full need met generally consists of loans, too. Our EFC was 0 but most of the financial aid packages had many loans. (Perkins; Stafford, subsidized and unsub.) Daughter applied for many outside scholorships and so her full need is covered.</p>
<p>Wow thanks everyone for responding there was alot of very helpful information here. sk8rmom we are from NYC and after filing the FAFSA and the Tap just as you stated D is eligible for Full Pell, ACG, Full TAP. With only these three the SUNYs are pretty much covered and that is not including any institutional grants she may receive, its the private colleges on our list that concern me but what we learned at the workshop was that private colleges have much more endowment and instutional grant money at their disposal than state colleges do which may fill the gap.</p>
<p>Here is a breakdown we received at the workshop from an actual student accepted Fall 2009 with an EFC of 0 and a GPA of 89%</p>
<p>College A SUNY Binghamton
Pell Grant$5,350
Tap Grant$3,400
Federal Work Study $2,500
Stafford Loan $3,500
Unsub Loan$2,000
Tuition Gap $2,500 (not terrible)</p>
<p>College B Boston College
Pell Grant $5,350
Federal Work Study $2,200
State Scholarship $2,400
Boston College Institutional Grant $39,300
Federal SEOG $400
Stafford Loan $3,500
Tuition Gap $535 (much better)</p>
<p>Their point was that private schools have the large endowment money at their disposal and not to be afraid to apply to one of these schools. It was a very informative workshop.</p>