EFC - Financial Aid

[dietpepsi]

<p>Hello,
I calculated my EFC on collegeboard.com based on what my father told me, and we got a very low ECF. Is this REALLY all we are going to have to pay (provided that circumstances don't change) if I get admitted to a school like Columbia that meets 100% of demonstrated need? Thanks. My dad believes it is unreal that Columbia would actually be cheaper than the local public university.</p>

[fiona_1]

<p>

@dietpepsi

My dad believes it is unreal that Columbia would actually be cheaper than the local public university.

Haha, yeah, Columbia is generous with need-based financial aid, which public U’s can’t afford to do. Columbia = massive endowment. </p>

<p>Some people say that the Ivies aren’t truly diverse, but actually bipolar, because the student body is comprised of either 1) Really rich students who don’t qualify for FA but can pay $50k easy and 2) Low-income students who qualify for a full ride. Middle-class students who don’t qualify for FA but can’t afford $50k out of pocket frequently end up having to choose cheaper public U’s.</p>

<p>But truthfully, yes, Columbia could very well be cheaper than state U.

@&lt;a href="http://www.studentaffairs.columbia.edu/finaid/eligibility/contribution.php%5DWe"&gt;http://www.studentaffairs.columbia.edu/finaid/eligibility/contribution.php

We</a> encourage you to use the EFC Calculators on the following websites:
College Board: [EFC</a> Calculator: How Much Money for College Will You Be Expected to Contribute?](<a href=“http://apps.collegeboard.com/fincalc/efc_welcome.jsp]EFC”>http://apps.collegeboard.com/fincalc/efc_welcome.jsp)
Finaid.org: [FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“Your Guide for College Financial Aid - Finaid”>Expected Family Contribution (EFC) Calculator - Finaid)
***For many families, the EFC calculated by Columbia may be lower than the above calculators because Columbia uses a more generous calculation of a family’s ability to pay.

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