<p>I've applied to a few schools that will provide 100% need...except if the tuition is in the 50k range and my efc is around 4500, will they help me enough so that I'm not drowning in debt and make it possible for me to attend? Or more specifically, does anyone know if financial aid packages will consist of less loans with that type of efc? Thanks.</p>
<p>The amount of debt depends on the school. Some schools will limit debt for students who come from a family with a certain income level and below. Some will include a Fed Guaranteed student loan, a private loan and a parent loan in your package. However, with that EFC you will have a significant amount of gift aid from the 100% need schools regardless.</p>
<p>If your school is offering you Parent loans and/or Private loans and claims to meet 100% of need they are being less than truthful.
Parent loans and private loans are available to all who meet a credit check.</p>
<p>If your school is a “no loan” school then you will be expected to pay $4500 and the school should foot the bill for the rest.
If not then expect Subsidized stafford loans ($3500 first year), and perhaps Perkin’s loans (amt varies but probably a couple of thousand) and possible UnSubsidized Stafford ($2000).
You could end up with a considerable amount of debt but if they are federal loans they should be manageable. (or not).</p>
<p>“they are being less than truthful”</p>
<p>I don’t see this as a truthfulness issue, since the loans are openly and clearly disclosed. Schools that meet 100% of need often arrange Stafford and/or Perkins loans and also part-time jobs as part of the FA package; they do this to stretch their own limited FA dollars to help the greatest number of students possible. 100% need schools offer the components necessary make attendance possible, as long as families pay the remaining EFC. Families that qualify for additional loans can use them to help pay the EFC.</p>
<p>^
I was not talking about Stafford and Perkins loans - IMO, they are “financial aid”</p>
<p>I am speaking specifically of private and PLUS loans. If one is to consider private and PLUS loans “financial aid” then every school is a “100% need school”.</p>
<p>Ah, sorry, I see the distinction. Which schools are doing this? I’d like to point this out when recommending a school. Thanks!</p>
<p>vossron:</p>
<p>Wake Forest puts PLUS loans in its finaid package, but at least it discloses same on its cds.</p>
<p>OP: pull up each college’s common data set adn look at the financial aid section. It will give you an idea of the colleges that meet full need and average amount of indebtendness. Note, however, that its an average, i.e., they could offer one full ride of grants and one package full of loans. Thus, it will not give you an indication if a college practices enrollment management, i.e., all grant to top students and all loan to bottom of the admittees.</p>
<p>Most schools with COAs of $50k require CSS as well as FAFSA. They will use CSS for their own institutional aid and FAFSA for federal aid. CSS includes additional information such as home equity which may be considered by the CSS schools aid. calculating need. This may make your need for institutional aid different than that for federal aid (federal aid would of course no where near cover the costs of a $50k school). What sort of aid the school would offer would depend on their aid policies. Some promise to meet need without loans. Others do not.</p>
<p>Swimcatsmom is right on. That EFC from FAFSA will determine your eligibility for PLUS and any other government money that your college/state offers. Most college that guarantee to meet all or close to all of need, want to define that “need” themselves and require a CSS PROFILE or their own forms in addition to the FAFSA. If the numbers on the additional form are close to the EFC from FAFSA, the answer is that if that school guarantees to meet full need, it will offer you a financial aid package with government money determine by FAFSA plus whatever else you need so that ll you pay is that EFC figure. However, there is no guarantee that all of this going to be in the form of grants, either.</p>
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<p>PLUS loans don’t require “eligibility” other than a credit check. They are available regardless of “need”.</p>
<p>Thanks, I have a better idea now. I was specifically referring to Notre Dame by the way, in case someone would know something more about that.</p>
<p>you should be able to find this info on their website. dig around and do a little reading. If you don’t find the info you need, call or email the FA department.</p>
<p>anecdotal info only, but my son’s roomie had to turn down ND bcos its finaid package was significantly less than the college to which he matriculated; ND was his number one choice. Based on reading cc, I get the sense that the big three Catholic colleges (ND, GU, BC) don’t have great finaid.</p>
<p>I’ve already searched their site and it didn’t give me too much new info. My question is pretty much just wondering if it’s possible for me to attend with an efc of 4500 though I’m guessing my CSS will probably lessen my need amount.</p>
<p>Bluebayou, I applied to Notre Dame with a very low EFC (around $7500) and they provided me with $30K in gift aid per year. Given the cost of attendance when I was there, it was more than enough to make it reasonable. I thought their aid was generous. I was a Notre Dame Scholar, and while I’m not sure precisely what that signifies, they state that if you are designated as such, you get most of your need covered with grants and scholarships.</p>
<p>actually, lil, you made my point, (assuming your Profile efc was $7500). Assume ND costs $50k for full attendance. With an efc of $7500, your “need” is $42,500. Of that, ND gave your $30k, or ~70% of total needed. If you attended another school (such as no-loan Vandy), you could have received a grant of ~$42,500, or ~100% of need. Emory would have given you a grant of $37k, with $5k in loans. (Ignoring work study for simplicity.)</p>