EFC Clarification

I’m a CC student wondering about how much I will be expecting to pay for school when I transfer. My family’s EFC is $12,000. What does this mean if I go to a state school of $20,000 or UC of $30,000+ ? I also have the Cal Grant which will give $6,000 for state or $12,000 for UCs

Can you try a net price calculator for transfer students on a UC website and enter your $12,000 FAFSA EFC and see what aid it gives you?

@mommdc For UCs the grant award ranged from 14000-19000 depending on the school. EFC according to their calculations would be about 12000 still and about 8 thousand from me. How do you think the cal grant factors into this

I am not that familiar with CA aid but the Calgrant probably covers part of tuition?

Are you going to commute from home?

Then you would only pay tuition and fees to the school, minus grant aid.

If you live off campus, then you need money for rent, utilities and food.

@mommdc Yes the only school remotely close to me is Fresno State, and unless I get into their new fancy Stem teachers program I really want to go to a UC. It doesn’t sound to bad if their calculations are accurate. Maybe I can earn enough money just under the cap(i think like $6000) so that I don’t have to file taxes. My parents can pay the total of say just over $20000 for 2 years.

@goatofgoats99

You can earn more than $6000 a year…you might have to pay taxes on it. That might be worth considering if it will be possible to pay for college by earning more.

@BelknapPoint how does the new standard deduction affect the amount a student can earn before owing taxes?

Also, income earned in 2018 won’t be used until you file your 2020-2021 FAFSA. Will you still be in college at that point?

If you are a second year this year…2017-2018

You would be third year in 2018-2019

And fourth year in 2019-2020.

@thumper1 Sorry should’ve clarified that I’m a freshman. I’m just trying to work things out

You can possibly borrow your student loans while in community college and save them for when you transfer.

As junior and senior you can borrow $7,500.

Cal grant will pay the tuition.

How much will your family pay each year?

@mom2collegekids My parents can afford to pay up to $15000 per year for 2 years. Cal Grant should cover most of the tuition and the rest I’m assuming will be paid by government grants. Probably another 5k-10k needed depending where I go.

No
The Cal Grant is the only government grant you qualify for. There would be no other gov’t grants. There aren’t any other Calif grants, and your EFC is too high for a federal grant.

The cal grant will pay for your tuition, then your parents will pay for your room and board…and you’ll have to either borrow or work to pay for the rest.

In 2018 for a taxpayer filing single, the first $12,000 of AGI will be covered by the standard deduction. For a taxpayer claimed as a dependent on someone else’s return, that number will be lower if there was less earned income and more unearned income.

@mom2collegekids Mmmmm I’m a little confused because I’m currently receiving the Bog Waiver Type C, unless that falls under a different category.

Use the net price calculator at each campus’ web site to get an estimate of net price after financial aid.

That is a sub for Cal Grant. There isn’t a cal grant for a CC…BOG is used instead. BOG is essentially a cal grant for CCs. Therefore when you go to a csu or uc, you’d get the cal grant, not a BOG grant. There is no other gov’t grant you’d get at a CSU or a UC other than a Cal Grant. If your EFC was MUCH lower, you’d get a Federal Pell Grant.

Your family’s EFC is $12k…will they pay all of that? If not, how much will they pay?

For a UC, you’d get about a $15k grant. When you add your parents EFC of 12k, you have 27k towards a UC. You’ll also get a 6500 loan if you’re a sophomore or a 7500 loan if you’re a junior. So there you go!

When you transfer, will you be a junior or soph? I didn’t think students could transfer to Calif publics and only be a sophomore when school begins.

Edit…i see that your parents will only pay 10k per year, so figure that you’ll have 15k + 10k = 25k. Then add your loan and you’ll have over 30k. You may also be given some work study. In the meantime, plan on working/saving during summers and school year to put costs towards school.

You’re expected to contribute something towards college. Colleges don’t give free money for your shampoo, toothpaste, pizza out with friends, etc. Usually the amount expected by students is about the cost of personal expenses and sometimes books.