<p>I recently filled out my FAFSA and was told my Expected Family Contribution was 00000, which I know is due to my current financial situation. My question is what do I do from now? Keep in mind I have not received my SAR in the mail yet.
I just want to know what I do in the meantime and does my EFC really suggest that I am going to college for free? I applied to only four Cal States and I am a resident of California.</p>
<p>No this doesn’t mean you will be going to college for free. This does mean you will get the $5400 Pell Grant, and a $5500 direct loan. Some schools have SEOG, and some states have additional state grants for low income students. Without knowing your state, it is hard to comment on these.</p>
<p>Colleges meet varying amounts of need depending on their policies. Most schools do not meet the full need of all accepted students.</p>
<p>I am a resident of california, and can you please clarify what you mean by the Pell Grant being a loan? Those are two different figures that you have posted.</p>
<p>No, the Pell Grant and the Stafford Loan are separate. You will receive the maximum possible Pell Grant, $5,550, along with eligibility to borrow a Stafford Loan up to $5,500.</p>
<p>As a California resident applying to a California university, you will also be eligible for the Cal Grant program. Make sure you file your GPA verification by March 2.</p>
<p>[California</a> Student Aid Commission - Cal Grants](<a href=“http://www.csac.ca.gov/doc.asp?id=20]California”>http://www.csac.ca.gov/doc.asp?id=20)</p>
<p>OP,</p>
<p>I think you misread thumper’s post. She meant that you automatically qualify for $5400 Pell Grant AND $5500 direct loan.</p>
<p>Hmm. I have a question too regarding 0 EFCs. If the school don’t meet the need of the student, is it possible to burrow the remaining amount that the student has to contribute to the school? or the student has to go to a school where they can afford?</p>
<p>All FAFSA does is give you that EFC which can guarantee certain and make you eligible for certain federal funds. PELL is a grant that comes from the federal government. You are eligible and will likely get that. You can also borrow up to $5500 in Stafford Direct loans in your own name with no credit check from the government if the cost of your college warrents it. Some of that money could also be subsidized, up to $3500 of it. Your parents, if they pass the credit check are eligible to borrow through the Parent loan. If the colleges you apply to have other federal programs that they subscribe to and pay for, you may be eligbilble up to the cost, for them, such as Work Study jobs, Perkins Loans, and SEOG (a limited grant that only a few colleges give out). If you live in a state, such as CA that also has some subsidies based on the FAFSA EFC, you may also be eligible for state awards, but that can depend on the individual school and requirements. YOu need to talk to your gudidance counselor and be familar with what CA has that you are eligbile to get and what you have to do to get that money.</p>
<p>The rest is up to the college. If you have a gap, they may leave it or fill it with their funds. If they subscribe to work study or other such programs they may give you some of that as part of the package. They may have some grants but it’s entirely up to them who gets that money because it is never enough for everyone to get 100% of need met. They will probably present the PELL and the Stafford as their own awards when they present the package even though you are eligible up to cost for that money any where you go.</p>
<p>So THumper is showing the PELL and the Stafford Loans. The amounts are pretty close and I don’t remember the exact dollar amount of PELL for the year. I though it was $5550, but I could be off. But close. So right now Uncle Sam is saying UP TO $11K if the cost is that much towards college, about half grant, half loan. The rest is up to the college and what aid it subscribes to.</p>
<p>The student generally has to go to a school they can afford. Borrowing more than the Stafford Loan is both inadvisable and impossible unless a parent signs for the loan. Those are called PLUS loans, and it is, generally, a bad idea to borrow them. Too much undergraduate debt is a Very Bad Thing.</p>
<p>Sorry for the confusion…I added the word AND to my other post.</p>
<p>Lilme…for any student loans in excess of the federally funded direct and Perkins loans, you would need a cosigner. </p>
<p>But truthfully, you should try to limit your loans to the direct loan amount only. That means…go to a school you can afford (this might include school merit money and/or institutional grants if you receive them).</p>
<p>lilmelonred,</p>
<p>As a NYS resident with a ) EFC you will be eligible for </p>
<p>$5500 Pell (entitlement to be used at almost every college)
$5500 Loans (entitlement)
$up to $5000 in TAP if you attend school in NYS (keep in mind that TAP will ask for the income/assets of both parents). </p>
<p>You may be eligible for the following based on availability of funds at the college </p>
<p>SEOG
FWS (federal Work Study)
Perkins loan</p>
<p>the TAP/Pell Stafford loan will not cover the COA to attend SUNY and live on campus. You will have to get a job (now) in order to offset some of your expenses. IF you are EOP eligible, the award could range from ~$2000-$2500 additional monies in your package to simply getting a book stipend. You will want to make sure that your FAFSA is submitted early in order to be first in line for FWS/SEOG/Perkins.</p>
<p>Your guidance counselor would be up on what the CA system has in terms of financial aid and what you have to do to get it. Sybbie has given you what NY state has and listed some things, as many of us have that depend on individual collleges.</p>
<p>The Cal States do not promise to meet need. However, it sounds like the student will qualify for:</p>
<p>Cal Grant
Pell Grant
Stafford loan.</p>
<p>With that aid, much of his direct school costs will be covered. However, he should get a summer job to help pay for books, dorm supplies (bedding, etc), and other incidentals. He may get work study to help him with day to day costs. If not, then a part time job can help with that.</p>