EFC of $0

Hi! I was hoping to get some insight on what my EFC means in terms of my financial aid offered from colleges. My EFC was calculated to be $0, and my family really can’t help me financially with college in any way. My older sister is already attending college with no aid and my mom and sister have already taken out loans, which I’m desperately trying to avoid. We live in Florida and she didn’t qualify for any BF.

I qualify for the highest level, which is 100% tuition instate. I don’t want to make this comment huge so I’ll link the post with my stats and current situation.

http://talk.qa.collegeconfidential.com/what-my-chances/2047593-chance-me-for-flagler-fsu-etc-visually-impaired-displaced-first-gen-student.html#latest

Thank you for any comments or help, I’ve been very active with college admissions and my guidance counselor has helped me a lot. I was just hoping for some additional insight.

If you get full tuition Bright futures…is there any college within commuting distance of your home??

First, congrats on qualify for FAS Bright Futures scholarship!!!

Lets look at the typical cost of attending a Florida public university.

Undergrad On Campus
Tuition / Fees $6,380

Books and Supplies $1,210
Computer/Cell Phone $1,250
Housing $5,440

Food $4,470

Transportation $1,100

Clothing Maintenance $970

Personal $310

Total Budget $21,130

Bright Futures covers most of the Tuition/Fees and book/supplies cost.

However, as you can see, the next big $ items are housing and food. Overall, you still have about $13K to cover.
Based on your family situation, you may qualify for a Pell Grant. I believe the maximum is about $5,920. Then some schools will also offer some need-based aid (this is different from merit-based aid). Some schools may also offer you merit based aid.

You can also take steps to reduce your cost; don’t get the meal plan, shop/cook your own meals, look to room with several roommates, to reduce your rent, etc.

Now that you and your sister are in school, your chances of aid also go up, as they do consider that your family is trying to put two through school.

Still, that leaves a large gap, and loans will likely be needed.

I can appreciate wanting to avoid loans, let alone having your parents also take out loans. One option (which is popular in Florida) is to attend a local CC for two years. You likely can void any loans, and even save some money, so that when you do attend a University, you will not have to take out as many loans. It’s an option.

Also, it’s a lot easier to enroll (based on your major) into UF, FSU, UCF, etc, as a transfer student.

Note that private colleges in Florida are much more likely to offer need-based aid, but they also start off charging more for tuition. It’s worth looking into these schools and then reviewing what type of aid package they offer, after you’ve been accepted.

Good Luck!

@thumper1 There is a community college nearby but I am not at all interested in attending. Plus, I am visually impaired and would still be relying on my family for transportation.

@Gator88NE Thank you for the thorough analysis!

Yes, I qualify for a $5,920 Pell Grant, along with two state grants.

I’ve heard back from two colleges, UCF (deferred, the situation is weird and I’ve posted about it in the Florida Schools topic), and the Keiser University Flagship campus. Keiser awarded me a $36,000 merit award!

I’m still very excited to hear back from Flagler College, FSU (the 25th can’t come soon enough), and Mercer University. I am going to a Business Scholarship Challenge on the 27th. They use evaluations taken at the event to determine financial aid packages and give out multiple full-rides based on the results.

If tuition and books are covered by BF, you’d have Pell ($5920), probably some SEOG ($1-2k), Florida supp. grant ($1-2k) which gets you to $10k. You can also borrow the direct loan of $5500. That’s $15k to pay for room and board and incidentals.

I read your post about Flagler and I really hope you get in. It has very low tuition, you’d get the above plus the FRAG for a private school of $3300. It is one of my favorite schools.

A friend told me they ‘came in at right around $20k’ for their son at UCF (a couple years ago) but this kid was spending money like he earn it, which he didn’t. He had no scholarships (lost his BF), joined a frat, had a car at school, lived in a dorm with a full meal plan. I think for someone who is trying to keep costs down it is possible to keep costs to $16k, and if you are getting BF full tuition, Pell, two state grants, you might not even need the entire $5500. Your parents won’t have to take out loans for you.

Just keep plugging along. Something will work out.

@twoinanddone

Thank you so much! They are actually my top choice, I hear back from them any day now and I am beyond nervous. If they offered me as much as Keiser I would definitely be able to attend, if not I could (hopefully) work it out. I’m aware of the FRAG and would get it for Keiser too. I’ve spent my entire life budgeting, why stop now?