<p>Oh man, I'm so not getting any money at this rate.</p>
<p>53000?! That's more than the tuition!</p>
<p>I know that 53k seems fairly reasonable for a family with income of 200k per year, but that was last year. My mom lost her job, bringing the income down to less than 100k. Meaning our EFC is more than half of the income. We barely even have the money to make our mortgage payments. Geez.</p>
<p>Sorry about the ranting. I'm just kind of shocked and very worried. My parents said they cant afford to contribute more than 10k a year to college, and I'm pretty sure we'll be expected to pay much more, with an EFC like this. Hopefully this doesn't bar my chances :[</p>
<p>Well, you can explain a job loss to the financial aid office of colleges you're interested in attending (you'll have to do that after acceptances are sent to you), and you may find some schools are willing to do an adjustment and make some aid available. It's at their discretion, however, not something you can count on.</p>
<p>If you go to an in-state public university, even paying full freight, in most instances you'll come in WAY under 50K. Even under 20K in lots of cases. So you need to keep in mind that choosing a college involves choosing a college you an afford. In any case, even with one parent earning 100K/yr, you are in very fortunate circumstances compared to countless others.</p>
<p>If you go to an in-state public, and your parents will contribute 10,000, then you can probably earn 2,000 to 4,000 working summers, and part-time while in school. Apply for all the scholarships you can. There are unsubsidized federal loans available. I mean, with all that you're at or closing in on much of the cost of an in-state public. If you live somewhere near enough to commute, that can save a LOT of money, too. My daughter has done that this year, and her tuition, fees, and books will end up being under $10,000. Even if you do that for a year or two and then transfer, you'll save a ton of money, plus your mom may begin working again and put you in a better position to afford a more expensive school. A lot can happen in two years.</p>
<p>If you have some very expensive private colleges on your radar, it's at least worth explaining the situation to them to see if you might get a reconsideration for financial aid, although it is their call.</p>
<p>Colleges expect families will pay for college using not just current income, but that they have saved and may borrow too.</p>
<p>At some schools you may get an adjustment with your mom out of work, but it's highly unlikely that they'll adjust a $53K EFC with $100K in income still coming in to anywhere near $10K.</p>
<p>Between what your parents can pay and you're working summers and part-time during school, a CSU should be no problem. A UC at $25K is more of a stretch but doable with more work and relatively high loans. Or maybe 2 years at a CC with 2 years at a UC and saving much of the money for the last 2 years?</p>
<p>You can try talking to your school(s) but from what I have read they may not be willing to make any immediate adjustments if the unemployment is a recent thing. Even if/when they do, with an income of $100k your EFC would be closer to 20,000 than 10,000 assuming there are no assets (which would increase it). As the other posters said, with $10K a year from your parents, $5,500 in Stafford loans (all students are eligible for unsubsidized loans) an some work on your part you are close to having an instate U covered. If you have applied to some schools where your stats put you in the top few % points of applicants you may qualify for merit aid which will be a great help.</p>