<p>Hello everyone. Just filled out the FAFSA and got a low EFC rate(less than 5000). I'm not exactly sure if this means I get a whole lot of aid or....</p>
<p>I guess what I'm trying to say is what does a low EFC mean? Is it good/bad? I'm aiming for instate publics. Will the insitutions offer more aid in conjunction with the Fedearl Government?</p>
<p>Please help lol.</p>
<p>Many public universities have limited institutional funds (money that is theirs to disperse because of endowments and donations). Their aid is often limited to federally funded aid, and state funded aid. Some schools, however, do have some institutional money they award.</p>
<p>With an EFC of <$5K you will be entitled to some kind of Stafford loan, and that’s about it. Your parents will be expected to pay for most of the college bill. As Thumper states, if your stats are good you may be entitled to some kind of merit aid.</p>
<p>Actually what I meant is that some state funded schools have need based funds they can disperse too…but not very many have these kinds of funds.</p>
<p>If your EFC is $5000, I believe you would be eligible for a teeny part of a Pell Grant (I thought the EFC cut off for Pell was $5200 but I could be very wrong about that). </p>
<p>With an EFC of $5000, I would guess that family income is low. Is there any chance it is below $30,000 a year?</p>
<p>If the cost of attending one of your state schools is $18,000 annually (I’m guessing that is about right), you would subtract your EFC…bringing the balance to $13,000. I don’t know the amount of your Pell eligibility but it isn’t the full amount if any (I hope Swimcats posts…she has these numbers at her fingertips). But let’s say it’s $600. Now you’re down to $12,400.</p>
<p>You need to find out if YOUR state has any other grant monies for folks with an EFC in your range or an income in your family’s range. With an EFC of $5000, your family income is probably in the low income range. Some states have programs that support this. Others don’t. </p>
<p>And there is always merit aid too. If your stats are sufficient, you might be eligible for a merit award in addition to your need based aid.</p>
<p>For 2009-2010 the maximum Pell grant was $5350 but the EFC cut off to be eligible for any Pell was 4617. So 5,000 was too high for 2009-2010. They have not announced the 2010-2011 cut off yet.</p>
<p>I just checked. The cut off has not changed for 2010-2011, it is still 4617. But the Pell maximum has increased to $5550.</p>
<p>You beat me to it, swimcatsmom! :)</p>
<p>JAJ, what is your EFC? The new schedule may result in a higher Pell for you than you think.</p>
<p>UNC meets need, I believe. You would need to plan on paying your EFC, and plan on getting maximum loans in the package ($5500). The rest of the package would be grants & work study, most likely. If a school does NOT meet need, you will probably have a “gap,” meaning that aid will not cover the full cost - that is, you’d have to pay your EFC + more. </p>
<p>You can’t “expect” anything. You CAN apply to a school near home, so you could cut costs by living at home, if necessary. Apply to a school or two where you might get scholarships. Maybe apply to a private school where you may get good need based aid. Focus on affordable schools.</p>
<p>I’m in NC if that helps. Don’t exactly know what programs they may have.</p>
<p>I’m only eligible for 1176 in Pell Grant and maybe 750 in ACG.</p>
<p>We make a little under 50000 a year(single parent home)</p>
<p>UNC is your best bet if you can get in.</p>
<p>You can’t expect anything since most schools can’t meet need. Some elite schools can.</p>
<p>What are your stats?</p>
<p>What is your home state?</p>
<p>What schools are you considering?</p>
<p>Home State=North Carolina</p>
<p>Stats: 3.5 W GPA, 27 ACT, 1870 SAT, few EC’s, URM.</p>
<p>Schools in-state: UNC, NC State, UNC Greensboro, UNC Asheville</p>
<p>OOS- Drexel, UMN-Twin Cities…</p>
<p>EFC=4431.</p>
<p>got into all, waiting for UNC(slim but hopeful)</p>
<p>Pell would be $1176 for the year at full time, and $882 for 3/4 time. At this EFC, there is no Pell for fewer than 3/4 time credit load (e.g., if 12 credits is full time, 12+=$588 in a semester, 9-11=$441 for the semester, and NO Pell if fewer than 9 credits — this happens at the higher EFC levels).</p>
<p>You would be eligible for ACG if you have the correct high school courses. Rumor is that there will be no more ACG or SMART after the 2010-11 award year … that may not come to pass, but it’s good to know it might go away, for planning purposes.</p>
<p>Is UMinn the only OOS public you applied to?</p>
<p>U of Minnesota is a great choice for OOS students. The tuition for OOS students is not much higher than that for instate at UMinn.</p>
<p>Oh, that’s good to know. They have a great pharmD program. If S doesn’t like the 6-year program he starts in the fall, he is open to trying to get into other programs. I am collecting options, in case, and this one sounds good.</p>
<p>I love this website!</p>
<p>this student is likely to get around 2,000 in pells and matching college funds
another 750 for the smart grant and 5500 in staffords (29,000 4 yera total) and maybe 2000 in work study. Unless north carolina has some sort of state grant program this student will bring around 10500 in grants and loans, the rest of the college costs will have to be borne by the student or family. Unless I misread the website the oos costs at minn twin cities are 26000. Probably too big a gap. Drexel is not a good option. but it looks like ncstate and the two unc’s are doable. Although with this level of stats this particular app had other options possible even a top 50 lac. But water under the bridge at this point</p>
<p>haha, I didn’t know my app was strong for a lac. I didn’t apply to them simply because they seem way too expensive for an education(especially in a single parent home). That and the fact I didn’t know of too many haha.</p>
<p>Thanks speedo, the remaining 5000 or so dollars seem doable if I can get a job. I also applied for work study as well. So we shall see the results.</p>