EFC increased by $27,000, but how?

@CaliCash

My DD’s school was on quarters. She had a summer job every year even though she didn’t get back here until mid June. The benefit for the employers was she also didn’t need to return until mid September…and she was able to pick up a TON of hours after mid August when other students went back to college.

You need a job…even if it’s babysitting or pet sitting or mowing lawns.

At this point…just do what you are doing. It’s very possible your parents will be able to pick up the slack for you.

My opinion…taking $7500 in each of the junior and senior years in federally funded loans would not be onerous…and would be a good contribution from you towards your college costs.

@twoinanddone I think @calicash certainly can appeal,her financial aid award…but the school gives need based aid only. She doesn’t any longer have a sibling in college. Not,sure just how far an appeal,will,get her…but I seriously doubt it will be $27,000 additional aid.


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There's only so much I can do when my parents are telling me repeatedly to not worry about it<<

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            Ask them point blank, are they going to pay for 2 more years at the higher EFC. You should have a plan B for if this all goes to hell. If you need to transfer, you need to know ASAP. 

I think you’re doing a great job of being proactive. And you should probably go ahead and talk to Northwestern’s FA dept, but I also think your parents are right (especially since they are bearing the major brunt of the cost).

Keep being responsible, but try not to worry quite so much. The cost may indeed double, and if your folks say that’s OK, then go ahead and trust them.

When you were accepted to NU, they gave you $21,000 in need based aid…when you had a sibling also in college. That means your family was expected to,pay well over $40,000 a year that year.

You did an appeal based on something that was pertinent THAT year…and they increased you grant aid to $30,000 and gave you $2500 in work study, and a $5500 direct loan ((which frankly you were entitled to get anyway!).

And on that thread…several posters candidly stated that your financial need would,go FOWN if your sibling wasn’t any longer in college…and your cost to attend NU would go up.

Now your sibling is no longer IN college. Plus you have said your parent income has increased.

In your other thread…as a HS senior…your parents were less than forthcoming about college costs and how much…or even IF they would pay anything. But they did.

I can’t think of anything else you can do…but see what your net cost will be this year…and then see if your parents on their $240,000 plus income will help you out.

@CaliCash it is nice to see you progressing at Northwestern. You are a fantastic and interesting writer, as demonstrated by your many entertaining, knowledgeable and helpful threads on college confidential, which generate huge readerships! Northwestern seems to be a perfect fit for you given its outstanding program and your career goal. Definitely pursue this with Financial Aid because they may help out. But if you are stuck with a larger bill hopefully your parents will fund the additional costs. If not, what about your elderly grandfather, hope he is still well, maybe he can help a bit. And/or you can take out the $7,500 loan to help defray some cost. But you should definitely do everything possible (even taking a private loan with your parent co-signing) to make sure you can stay the next two years and graduate! Best of luck!!

If I remember correctly, your mom was a little emotional reactive 2 years ago and you attributed that to her personality. Is she the one who is saying not to worry about the costs? What is your dad saying? Do they still have the grandparent who might pitch in and help pay?

If BOTH of your parents are saying not to worry about the money?

When both parents are together, I would simply say something like, “If you’re telling me not to worry about the $XXXX cost because both of you know that you can handle the costs, then I won’t say anything more about it.” And see what they BOTH come back with.

I would add to Mom2’s fine post.

“my bill for fall/winter semester will be due on August X (look up the date now) and likely be for (estimate the number it is going to be now that your sibling is no longer in college. Do we need to talk about how we can cover that or do you two have it under control?”

Just make sure they are thinking about THIS August (i.e. not some far off day in the distant future when anything might happen) AND the actual/bottom line number, not “my bill is going to go up by 30%”. They need the date and the amount to focus on.

Also…here is my simpleton arithmetic.

Your parents won’t be paying $7000 for,your sibling college costs. You can take a $7500 Direct Loan. That’s $14,500 of the additional family contribution.

Do some summer work…anything…and earn say $2000. That’s $16,500 covered. Plus whatever you are saving from your work study job now.

Yes, your FAFSA EFC went up by $27,000…but with some work, I think this might be doable…and really…taking those Direct Loans…not onerous.

So are you pretty much full pay now for 3 yrs? And your parents are paying that, including your staffords? (I think I read they are paying your loans, staffords , right?). So to clarify, your 240K a year parents are full pay for you now? And you want FA?

@Sybylla

@calicash is currently finishing her second year of college. She had two more years…not three…thank goodness!

So far shenhas taken out only $9000 in loans, I believe. Since she is still in college…they are not being repaid…yet.

@mom2collegekids That would be correct. My mom and dad both said not to worry about it. As I have gotten older, i progressively feel more uncomfortable about asking my grandparents for money. I want them to enjoy their elderly years and not worry about losing large sums of money.

I would be likely full pay for 2 years. I got roughly half of my education covered my first two years because I had a sibling in school. My only fear with loans is that I am going into a career that has a very low starting salary. My parents said they will pay for the $9000 I have right now, I don’t wanna take the chance of them only being able to carry that $9000 and not an additional $7500. They aren’t being repaid right now, but they are collecting interest!

Tomorrow, I will be going to the financial aid office to discuss this recent change to see what I can expect and see if I can fit any summer classes in whether on campus or at a local community college. I’ll update…

@CaliCash Your parents are very proud of you and how well you’re doing. It just makes sense that they will want to make this work for you. It’s not a huge difference from what they were outlaying between you and sibling…and now it’s just you.

Best wishes!!

        Well, I will love to know how it works because if a family with 240K income can get even institutional FA with one kid on college I need education on how that is done. This is something totally outside of an NPC estimate? I i will have 3 in college soon enough LOL. 

@Sybylla
Lol…It’s very unlikely that Calicash will get aid from NU at this point with only 1 in college.

Will you have 3 in college at the same time?

Yes LOL. And thanks to you all here it will be rationally thought out.