My daughter is transferring from SFSU to Fresno State because she feels Fresno State’s Business Department has more opportunities and she can get a certificate in ASL.
She is transferring as a junior and has received a Cal Grant A for her first two years. As she was transferring her Cal Grant school info on line she received a notice that her Cal Grant had been denied. We are well below the income and assets limit so of course we called Cal Grant. It seems as though the income and asset limits aren’t their only criteria. They also take your EFC in to account. They take the cost of going to your particular school and your EFC and subtract it. If the remainder is less than the Cal Grant award, you are denied. Our EFC went up by over $1000 because we now only have one child at home and we can no longer claim our older daughter as a dependent. The man was very kind in explaining things but it was still a shock. Has this happened to anyone else.
What is her EFC now?
What is the COA of her new school? Is she commuting?
Our EFC is 17770. Up from 16449. Her new school cost about 21500. She is living off campus. It’s a high EFC. OUR AGI IS 80,383. But, my husband and I are both retired. He gets a large pension, while mine is relatively minor. We don’t get SS. UntIl last year we had high out of pocket medical bills that allowed us to petition the school for a lower EFC. But, fortunately that is no longer the case. The agent at Cal Grant told me to go to the schools financial aid office because they sometimes have the power to override decisions. I’m not hopeful, but I’m going anyway! It’s a 4 hour drive each way, but I’m hoping maybe for the Middle Class Scholarship. He said the EFC affects that too.
I believe the college is going to expect you to pay your EFC. That is $17,700.
With a coat of attendance of $21,500, the balance after your EFC is less than $4000.
Your kiddo can take a $7500 federally funded loan to make up the difference.
I know, she is. My husband and I thought we would be saving some money because San Francisc is so expensive. She wants to go to grad school and we were saving for that. You just can’t win sometimes. It’s just that I guess I was naive in thinking it was just your income and asserts verses their ceiling limits. I never took into consideration the EFC.
When it is time for your daughter to go to grad school she will fill out the FAFSA as an independent student. As an independent student, your income and assets may be required. If she goes to law, med, vet or dental scholarship or they may still ask about your income and assets.
If she is going to get a MBA, it will be best if she has a couple of years of work experience. If she is going to be a teacher, she should consider working before grad school ( many places you have 5 years after your initial certification to get your masters).
If she is applying to a PhD program I’d she is not getting free tuition and a stipend, then she needs to rethink it.
Also depending on her major, she may end up working for a company that provides tuition benefits for grad school.
You were able to get an professional judgement to to high out of pocket medical costs. Since that is no longer the case you really have no grounds for an appeal and you are expected to pay your EFC.
Thanks for your input. My husband feels as you do. But, with that being said, I’m still going to ask. The agent at Cal Grant told me to go to Financial Aid as they sometimes can override a decision. Our AGI for 2016 is less than 2015 so I’m hoping against hope that maybe they will take our 2016 tax data. If not, it’s ok. As my mom used to tell me “they can’t say no and knock you down too”. Meaning I won’t be any worse off for having asked. We have the funds for her to complete her education. And, I agree about the MBA thing. I’ve discussed this with my daughter and told her that sometimes having solid work experience under your belt is better than an advance degree without any real work experience. Thanks again for your thoughtful advice.
You are going to ask them to use your 2016 tax return data, when the 2017-2018 financial aid for everyone else is using 2015. How much less IS your 2016 AGI? If it’s. Lot less due to job loss, they MIGHT make an adjustment.
In your case, however, you seem to have just too much to qualify for the Calgrant you thought you would be getting. TBH that is not a basis for appeal.
Your 2016 tax data will be used for the 2018-2019 financial aid…like everyone else.
But sure…go and ask. But don’t be too surprised if they just say no. So…come up,with a plan B.
Between your EFC…which you will be expected to pay…and am added $7500 Direct Loan…your coats will be more than covered.
First off I think I know my finances. Secondly, two years ago I ran into this same problem. High EFC but our income was no where near what the EFC reflected. Upon going to the Financial Aid office it was discovered that a $6000 error was made against us. $6000 was placed under an additional income column that the school uses. We were asked did we have a part time job, did we sell our stock, did we cash in an IRA. All no. By the schools admission it was their error. Now, the nice gentleman at Cal Grant told me to go to FA because he felt our EFC was too high for our income. So, I’m going.
Certainly…if a mistake was made…a correction will be forthcoming.
Good luck to you. Nothing ventured…nothing gained.
TBH…I’m surprised your EFC only went up by $1000 with one less family member.
But no harm in asking financial aid for clarification or help.