<p>what is an ideal EFC to get lots of aid???</p>
<p>It would depend on what school you are going to.</p>
<h2>For example if you have a $10,000 EFC, you may not be eligilble for aid at your local public university because your EFC may be enough to meet the cost of the education there.</h2>
<p>SCENARIO 1</p>
<p>Your financial aid will be calculated as follows </p>
<p>A school which meet 100% of your demonstrated need (and gives generous scholarship/grant aid) would calcualte need as follows:</p>
<p>Cost of attendance (for the sake of this demonstration we will assume that the cost of attendance at your school is $42,000 per year)</p>
<p>Minus</p>
<p>EFC (which comes from the FAFSA)+ Sudent Contribrution (the amount of money you will contribute from your savings or summer earnings)</p>
<p>Equals</p>
<p>Demonstrated need</p>
<p>Using the concept of meet ing 100% of demonstrated need a sample financial aid package would be calculated as follows:</p>
<p>Cost of attendance (tuition, room, board, books, travel home, misc) 42,000</p>
<p>Expected Family Contribution (based on the FAFSA) 10000
Student contribution 2000</p>
<p>Demonstrated Need 30,000</p>
<p>Your demonstrated need maybe be broken down as follows:</p>
<p>Subsidized Stafford Student loan 2500
Work study 2000
Perkins loan 2500
School grant/scholarship 23000</p>
<h2>Total aid package $30,000</h2>
<p>SCENARIO 2</p>
<p>If you were to attend a school that DOES NOT MEET 100% of your DEMONSTRATED NEED (or GAPS) NYU is a prime example:</p>
<p>NYU does not meed 100% of demonstrated need, a student with the same finanicals may get a package as follows:</p>
<p>Cost of attendance (tuition, room, board, books, travel home, misc) 42,000</p>
<p>Expected Family Contribution 10000
Student contribution 2000</p>
<p>Financial need 30,000</p>
<p>NYU broken your aid package down as follows:</p>
<p>Student loan 1750
Work study 4000
School loan 15000</p>
<p>Total aid Package 21250</p>
<p>While the $21250 package may cover your "need" if you are a commuter student, it definitely would not cover your need if you are living in the NYU dorms and using their meal plan.</p>
<h2>NYU has left $15,750 of the $42,000 cost that you still need to attend NYU for one year still unaccounted for. You will have to come up with a way to get the rest of this money (outside scholarships, your parents taking out loans -if eligible).</h2>
<p>SCENARIO 3</p>
<p>school which meet 100% of your demonstrated need (and givesscholarship/grant aid along with loans) would calcualte need as follows:</p>
<p>Cost of attendance (for the sake of this demonstration we will assume that the cost of attendance at your school is $42,000 per year)</p>
<p>Minus</p>
<p>EFC (which comes from the FAFSA)+ Sudent Contribrution (the amount of money you will contribute from your savings or summer earnings)</p>
<p>Equals</p>
<p>Demonstrated need</p>
<p>Using the concept of meet ing 100% of demonstrated need a sample financial aid package would be calculated as follows:</p>
<p>Cost of attendance (tuition, room, board, books, travel home, misc) 42,000</p>
<p>Expected Family Contribution (based on the FAFSA) 10000
Student contribution 2000</p>
<p>Demonstrated Need 30,000</p>
<p>Your demonstrated need maybe be broken down as follows:</p>
<p>Subsidized Stafford Student loan 2500
Work study $2000
Perkins loan $2500
School grant/scholarship $13,000
unsubsidized Loan $10,000</p>
<p>Total aid package $30,000</p>
<p>o wow thanksss</p>