<p>When my daughter and I completed the FAFSA, I was pleasantly surprised she would qualify for some need aid. I never did a full estimate of our EFC but always heard : "you make too much to qualify" (not really, but we both work for the government and have decent salaries).</p>
<p>All the posts I see are from people in the opposite situation, they were surprised by the high EFC. Are we a country of optimists or what?</p>
<p>(Corrected typo)</p>
<p>Ours was lower than expected last year and then when we submitted corrections it jumped 10k. It was still 11k less than the year before, though.</p>
<p>I wish! :)</p>
<p>I went into the process assuming that our EFC would be more than we could afford to pay, and was pleasantly surprised when the FAFSA EFC was pretty much exactly what we could afford to pay (using the word “afford” a bit loosely). Unfortunately our Profile EFC is $5K more than that, and all but one of our son’s choices uses the Profile. </p>
<p>Maybe we’re a country of optimists, or maybe we’re a country of people who tend to live up to their means, and so differences in perceived ability to pay don’t vary with income as much as one might think. I’m sure people making $30K a year more than we do don’t feel $30K richer; they probably don’t feel richer at all, because that difference has all gone to things that don’t feel like luxuries unless you’ve been doing without them–things like a “real” second car instead of a 20-year-old clunker, or a house with an actual yard, or going out to a restaurant more times in a year than you can count on one hand. But FAFSA doesn’t know any of this.</p>
<p>mpabon…</p>
<p>Your D is a NMF, right?</p>
<p>Did she get any scholarship offers? Or, will she be going to a school that doesn’t give NMF money?</p>
<p>yes she is NMF (no letter yet though) and has a scholarship offer for 14k/year and waiting to compete in 3 different full tuition scholarships for her top choice. Also full tuition offer from Fordham.</p>
<p>Ahhh…good for your D!!!</p>
<p>:) Good luck!</p>
<p>And I know the scholarships will reduce need-based aid but it was nice to see that the EFC was a bit less than the COA.</p>
<p>
does not mean you will automatically get $$ to fill the gap. </p>
<p>For many private colleges, they use css/profile to figure out your EFC. WHich is typically higher, something a lot higher, than the FAFSA EFC. </p>
<p>Then there are colleges that do not meet 100% of the need (COA - EFC). Even those colleges do meet 100% of your need, most of them will use loan as part of the package. </p>
<p>So, wait until you see the actual FA package. Most of the time, you will be surprised.</p>
<p>I don’t expect my daughter to get more than loans (hopefully the subsidized one and some work study) - my comment was referring to the expections and all the posts form kids expressing their dissapointment about the high EFC.</p>
<p>Is this something where college counselors and high schools need to provide better information? Is is up to us parents?</p>
<p>*And I know the scholarships will reduce need-based aid but it was nice to see that the EFC was a bit less than the COA. *</p>
<p>If your EFC was “a bit less” than COA, then big merit (such as full tuition at Fordham) will substantially reduce what you’d be expected to pay. Right?</p>
<p>Also, keep in mind that when merit reduces “aid,” it often reduces the gaps, Parent Plus loans, work-study, and Stafford loans that are in FA packages. So, merit can be a good thing either way!</p>
<p>I agree with DadII. When there is a small difference between EFC and COA, unless a school meets need w/o loans, that difference will likely be filled with loans or gap - not free money. </p>
<p>I think that’s what your friends meant when they were saying that you make too much to get aid. They probably meant that you make too much to get free aid.</p>
<p>*I don’t expect my daughter to get more than loans (hopefully the subsidized one and some work study) *</p>
<p>You make too much for a subsidized loan. I don’t know if those with higher EFCs get work-study. Anyone know?</p>
<p>My EFC, as a returning adult was 1 1/2 times our familiy’s AGI. Yes, people you read that right.
Not less than my AGi, not = to, but half again MORE than my wife and I combined AGI. Crazy.</p>
<p>Congrats to you if your EFC is less than expected. You are in far better shape than the majority who are outraged at what they are expected to pay by FAFSA.</p>
<p>The problem is that this number really ensures you nothing more than eligibility to certain funds. If it is above those threshholds, it can mean nothing at all. It all depends on the colleges on your child’s list. Many use a different methodology to determine need. Even if they use that EFC as their need figure, few school will guarantee to meet 100% of it. And even schools that do, will often meet it with loans rather than grants.</p>
<p>*My EFC, as a returning adult was 1 1/2 times our familiy’s AGI. Yes, people you read that right.
Not less than my AGi, not = to, but half again MORE than my wife and I combined AGI. Crazy. *</p>
<p>Did you make some mistake? Do you have assets/savings? </p>
<p>What is your income? What did it say your EFC is?</p>
<p>Mine was higher than expected. It was like 500 as opposed to 0 like its usually been. That was last year though, I assume this year will be around the same, unless my parents are doing better and forgot to let me in on it. ;)</p>
<p>this is where i get screwed…
my parents are only paying for 20000 to 25000 a year
and there efc is 100,000 or more.
so there goes any dreams of going to a top school since i need to get upwards of 30000 in scholarships and merit. </p>
<p>and my parents only say well we didnt get any money towards college so be glad (but they went to university in another country where they had to pay less then 10 grand a year)</p>
<p>sorry for the vent…</p>
<p>“efc is 100,000 or more”</p>
<p>Wow! But I hope you can find a way to appreciate the 20000 to 25000 a year.</p>
<p>
</p>
<p>As if the mistake would be to have assets and savings?</p>
<p>Sandrasccr - if your parents are willing and able to pay $25,000 then you are in great shape. If you apply to the right schools you may be able to get $15,000 in merit aid. Add student loans and a job and you are right in the ballpark. The vast majority of students have to take out loans and work and still don’t come anywhere near meeting their cost of attendance. You are very lucky.</p>
<p>Sandrasccr…</p>
<p>Are you a senior? </p>
<p>I hope you applied to some big merit schools. With a big merit scholarship and $25k from your parents, you won’t have to borrow anything.</p>
<p>What are your stats? Are you an American or a green card resident? If not, that will make things a bit harder.</p>
<p>BTW…the max EFC is $99k.</p>