I will be going to Hofstra University this coming school (or would like to) it cost about $53,000 with room and board and all that stuff. My FAFSA EFC is 025037. What does this mean?? Please help?
The university has also given me a $20,500 a year scholarship. How much am i going to pay for school?!?!
Hofstra is a private school that does not promise to meet need. That means that it does not necessarily fill in the gap between what the student can afford and the expenses. It looks like it is reasonable to think you or your parents can muster up 25K/year. Looks like Hofstra is approximately 19, 700 per semester (or you can lock in a 4 year rate at 21K). So that is $39, 400 for the year (or $43,555 for lock in rate). Depending upon what type of dorm you want, the lodging will range from $3,865 to 6,580 per term. So for both terms it is $7730 to $13160 per year. Dining costs range from $465 per semester for commuters only and 1,990-2300 per semester depending upon which plan is chosen. That would be 930 for commuter and between $3980 and 4600 per year. so the total would be approximately $ 51,110 to $57,160. From that you subtract the 20,500 scholar ship. So the cost of attending that your family would need to cover is between $30,610 and $36,660 per year. Apparently FAFSA views your family as being able to afford $25,057. That would leave about $5553-$11,623 that would be the gap between what the FAFSA thinks your family can pay and the actual tuition. This includes the major expenses such as tuition and room and board but not fees and travel and such.
Since they are not insignificant, I will add it appears that there is a full time undergraduate student fee of 345 per semester or $690, a technology fee of 105/semester or $210/year, an activity fee of $80/term or 160/year. So you’d need to factor in another $1060./year for fees.
So with the scholarship, your costs would be about $126,680 for all 4 years.