<p>When the EFC is calculated, but it comes out to a number that is very unfeasable, meaning we wouldnt be able to pay all of the money per year, what exactly do we do? Do we take this up with the school?</p>
<p>Then you start looking for school that offer merit money.</p>
<p>There recently was a thread in the financial aid forum titled something along the lines of Disappointing Financial Aid Offers. Definitely worth finding.</p>
<p>You can always contact a school’s Financial Aid Office and ask for more assistance…
Some schools will work with you, others will not. While certain schools have better reputations for Fin Aid, it’s still a crapshoot. It depends upon what type of student they’re looking for, the student’s application, etc.</p>
<p>Most offer merit aid and financial aid separately-the former based on grades & application, the second more by family financial situation.</p>
<p>If there is a spread…well, that’s what student & parent college loans are for. It’s a very personal decision as to how much you’re willing to borrow. Some feel it’s worth it, others do not. </p>
<p>You can always request Federal Work Study, but it’s not a huge amount and also depends upon financial need.</p>
<p>Weighing the cost/benefit of certain colleges is one of the most common dilemmas on this site, so you’re not alone:)</p>
<p>You also may have to look for a school that you can afford, which could mean sending your child to a cheaper school or a school that s/he can commute to.</p>
<p>Are you saying you are unable to pay it even by borrowing, or saying you can’t pay it out of what you have on hand?</p>
<p>Because EFC calculations make the assumption that parents will be willing to take on debt to finance their part of the obligation. Home equity financing is often used by parents to pay their portion of the EFC, but it is up to you as to whether that is a good idea or not–there are also parent loans (PLUS is the acronym I think) if you can’t or don’t want to take out a loan secured by your home. </p>
<p>If you are not willing to borrow, then yeah–the alternative is to look at a less expensive school.</p>