<p>I know it's all relative because it depends on the school but what would you all consider a "low" EFC, what range? I just want to get some sort of an idea of where my family stands in relation to others. (At this point, I'm only eligible for work-study and loans - no Pell Grant :( .)</p>
<p>Efc means nothing without considering the resources and intention of the college.
There are other grants, such as those given by the college to consider.
For example with our first child to attend college, our EFC was about$14,600, this was with a before tax income of $57,000 .
The school she eventually attended was a private LAC that didnot offer any merit aid but met full need. A small amount of work study, subsidized perkins and stafford loans and a grant from the school covered the costs of around$ 50,000 of tuition and rm/board for the year after the EFC was met.</p>
<p>I know it’s all relative because it depends on the school but what would you all consider a “low” EFC, what range? I just want to get some sort of an idea of where my family stands in relation to others. (At this point, I’m only eligible for work-study and loans - no Pell Grant</p>
<p>Emerald is right. </p>
<p>An EFC of - say $10k - at a state school might be “high” because the COA may only be $16k - which a Stafford loan would almost cover.</p>
<p>The same EFC at a $50k private that meets 100% of need w/o loans, would mean you’d get $40k in aid.</p>
<p>The same EFC at a $50k private that doesn’t meet need might be a disaster, because it might include huge loans and/or a big ol’ gap.</p>
<p>What is your EFC? And what schools are you applying to?</p>
<p>Our EFC is $12,000 and I’m applying to five UC’s, two Cal States and Arizona State (and the local CC later in the spring if the others don’t work out financially). </p>
<p>My stats -which I prefer not to disclose- are a tad above average but, trust me, not high enough for merit aid. </p>
<p>My parents don’t want me to borrow for my college education more than what my take home pay would be my first year out of college. All this financial stuff is new and complicated to me. And although my parents are taking care of filling out all the financial aid forms, they insist that I be aware of what I could be facing financially. </p>
<p>My school is automatically sending in my California Grant application and my parents are hoping the state will have the money for it if we are indeed eligible. </p>
<p>Man, oh man, how do people afford to attend private colleges??</p>
<p>Can your parents pay their EFC of $12k?</p>
<p>Why are you applying to AzSt? They don’t give financial aid to OOS kids, and if your stats aren’t high enough for merit, this seems like an odd choice. The OOS cost for AzST is about $32k per year.</p>
<p>Your parents are wise to advise you not to borrow much. It sounds like they want you to limit your borrowing to Stafford loans. For the first year, you can borrow $5500. For second year, you can borrow $6500. For junior and senior years, you can borrow $7500. So, a total of $26,000. Which would give you a monthly payment of about $285 per month. Borrowing for amounts larger than above would likely require co-signers. </p>
<p>As a financial safety, did you apply to a Cal State or UC that you can commute to?</p>
<p>What are the income limits for Cal Grants?</p>
<p>I applied to Arizona for no particular reason other than peer pressure because all my friends were applying to at least one OOS school. </p>
<p>Yes, I definitely applied to two Cal States and one UC that I would be commuting to. I’m pretty sad to miss out on the “dorm” experience but that’s how it goes…</p>
<p>I don’t know the limits for Cal Grants - are they awarded ‘automatically’ if we’re under the income limits? That sure would be nice but sounds too good to be true. All I know is that my mom downloaded and filled out the form which I took to my school but they told me they would send it in electronically.</p>
<p>Yes, I definitely applied to two Cal States and one UC that I would be commuting to. I’m pretty sad to miss out on the “dorm” experience but that’s how it goes</p>
<p>Well, let’s see. You may still be able to have a dorm experience.</p>
<p>Can your parents pay their EFC? if not all, how much could they pay?</p>
<p>If you get the Cal Grant, do Cal Grants still pay for UC and Cal State system-wide fees? If so, that would cover your fees (aka tuition).</p>
<p>If your parents can pay some/all room and board, then your Stafford could pay for the rest. I would also recommend working as much as you can in the summer to build up some pocket money or to pay for other expenses. </p>
<p>:)</p>
<p>But, first you need to know how much your parents can contribute each year.</p>
<p>Which UCs and Cal states did you apply to?</p>
<p>I’m in Yorba Linda so I can commute to Cal State Fullerton or Cal State Long Beach. I could also commute to UC Riverside. I applied to UC Irvine which I could also commute to but I don’t think that’s going to happen…
I have also applied to UC Merced, UC Santa Cruz and UC Davis. </p>
<p>Thank you for all your help!! :)</p>