<p>My EFC from UR's Estimator is much higher than the EFC calculated from the Collegeboard.
Does UR basically follow the numbers from its Estimator to create the aid package?</p>
<p>Based upon my experience, I'd say the online estimator is pretty close for need based aid.</p>
<p>However, UR can be pretty generous with merit aid--which can be important if you're looking at full-pay or near full-pay for your student.</p>
<p>Then UR's admission policy is to attract students with low or 0 EFC. For a student with a EFC between 20K to 30K, $10K or 20K merit aid will not reduce the EFC since the merit aid will be used to reduce the need-based aid first.</p>
<p>So the institution will just replace grants with merit aid? I could understand loans, but grants? </p>
<p>Anyway, I have an EFC of about 14k I think (which I can't afford at all). If I got a merit aid it wouldn't help cover my out of pocket costs at all?</p>
<p>Merit aid does indeed reduce "need". But it generally is used to replace loans, work-study and the expect student self-help contribution [summer earnings] before it's used to reduce grants.</p>
<p>Every pkg is different. You can't assume (especially today) that your package isn't going to contain some or all of the 3 elements (loans, self-help, work-study)--it probably will. </p>
<p>UR was quite generous with the merit aid for my D. She was able to really minimize the amount she has to take out in loans.</p>
<p>Also, the biggest benefit of merit aid is that it's generally yours for 4 years. You don't need to reapply for it, and changes in your financial situation are irrelevant to its award.</p>
<p>And Rochester is unusual in another respect, too - the GPA requirement to keep merit aid is "satisfactory progress" - 2.0. That's the same that you need to stay off academic probation.</p>
<p>Empower and Manatees--look at it this way: merit aid will reduce or eliminate the amount of work-study, loans and summer earnings you will be expected to hand over for your tuition, fees and living expenses. Instead, if you're unable to meet your EFC those resources (the school year and summer employment, loans) can now be applied toward meeting your EFC.</p>
<p>You won't be eligible for work-study if merit aid replaces it, but it will free up your time to find other paying employment on or near campus. (D is not on work-study, but she readily found a job on campus. Those $$ are going to pay for her travel expenses and personal necessities.) </p>
<p>Merit aid is really a wonderful thing. It's <em>guaranteed</em> for 4 years so you know exactly how much you be getting from it every year. No guessing. And, as Chedva mentioned, the requirements to keep it is very reasonable. Other schools require MUCH higher GPAs to retain merit aid.</p>
<p>My D. got a Kodak Award ($7500/year) from UR and thought it will cost less to go there.
If UR inflate the EFC, it may cost more to go UR than go to Cornell or UPenn.</p>
<p>Thanks WayOutWest and Chedva, that's a better way to think about it. Anyway, hopefully I'll get my aid package tomorrow or Wednesday.</p>
<p>If my need were to be covered by things other than loans, are there any subsidized loans that I could take out to cover my EFC? Or are private loans all I could get? My mom doesn't qualify for a PLUS, so all the loans would have to be in my name.</p>
<p>Manatee--</p>
<p>All students are eligible for an unsubsidized Stafford loan.</p>
<p>If your mom doesn't qualify for a PLUS loan, I <em>think</em> that means you qualify for an additional Stafford loan amount. Can't remember if it's subsidized or not. Try asking in the Financial Aid forum. There are couple of people there who will know.</p>
<p>They will never match 100% EFC.</p>
<p>and no school does unless ur a special case. Mb Havard, but in this economy.....</p>
<p>but think about it, an education will pay itself 100X down the road.</p>