<p>Hey, I just found out the other day that my dad's income is at least 6 figures, just above $100,000 I think. I am worried that our EFC for college is going to be ridiculous and something we can't afford. I have 2 younger siblings, and we all compete in sports, and my parent's have a bunch of different loans they are paying off right now. Is there any way that our EFC when I go to college won't be ridiculously high, or is there some way to help the situation? Oh, and by the way, I'm a sophomore in high school right now, if that makes a difference.</p>
<p>^^^</p>
<p>Well, your EFC will be high, and there’s nothing you can do to change that. Your EFC will be in the $25k+ range (so about $100k+ for you college education). So, if that’s not do-able, you need a strategy. (It doesn’t sound like your parents can afford $300k+ to put 3 kids thru college.)</p>
<p>The good news is that you’re realizing this as a sophomore. That means you have time to work a strategy.</p>
<p>1) Get the highest GPA you can.</p>
<p>2) Sign up for the June SAT and pay for the extra score report.</p>
<p>3) Get a practice book for the SAT and do some sections! 
Also, read the sections in the beginning of the book for helpful hints. The Collegeboard SAT practice book is best.</p>
<p>4) Use the results from the June SAT score report to work on weak areas over the summer in preparation for the Junior year PSAT. (If you score high enough on the PSAT, you can get some major scholarships as a National Merit Finalist.)</p>
<p>5) Make sure that your school lets you take the PSAT. (practice for this using the SAT book)</p>
<p>6) Sign up for the ACT during Junior year (again pay for the score report). Get “The Real ACT Prep Guide” practice book and use it. Later use the score report to work on weak areas and take the test again.</p>
<p>7) Repeat the tests again in the fall of senior year in hopes of getting your best scores.</p>
<p>You need to have the highest test scores & GPA possible, so that you can get big merit scholarships from the schools who give such.</p>
<p>Since it sounds like your parents will have an unaffordable EFC, that means that you’ll need BIG merit to afford college.</p>
<p>You may want to get your folks involved in the financial planning for college early. Many parents just aren’t aware of the current costs and are shocked when they see what they’re up against. Finaid.org is a good website, fafsa4caster will allow them to estimate their FAFSA efc, college board has some good info and posts financial stats about each school, and of course CC gives the personal attention and benefit of collective experience! The more time they have to learn and plan, the better. Do NOT rely on your HS to give any kind of realistic or worthwhile info about paying for college. They are frequently the biggest culprits of FA misinformation!</p>
<p>^^^</p>
<p>Very good advice!</p>
<p>You and your parents need to know NOW what their likely EFC is and understand that that in NOT the maximum expected. [FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“http://www.finaid.org/calculators/finaidestimate.phtml]FinAid”>http://www.finaid.org/calculators/finaidestimate.phtml)</p>
<p>Also, everyone needs to be on board with how much college costs…not just tuition…but the whole Cost of Attendance (tuition, fees, room, board, books, etc). </p>
<p>Privates can cost around $50k each year.</p>
<p>In-state publics can cost between $20k-30k</p>
<p>Out of state publics can cost between $25k-50k</p>
<p>I have a feeling that once your parents learn what their EFC is, and realize that they have 3 kids to put thru college, they may realize that their EFC is not affordable and you’ll need to strategize like I described above.</p>
<p>In addition to the testing strategy outlined by mom2ck (which will provide excellent preparation for achieving high test scores), you also need to follow up and expand on the second part of her advice – finding the right mix of schools to apply to.</p>
<p>In addition to getting your grades and test scores as high as possible, you need to look for schools that are known for being generous in giving merit aid AND where your stats put you in the top 10 - 15% of the applicant pool. These schools may be a tier or two down from your “match” schools. Also, be sure to apply to at least one of your in-state public universities, because they are likely to be the most affordable for you.</p>
<p>You are wise to start you planning now. Being just a sophomore gives you time to find an appropriate mix of schools to apply to. Then you will not be “surprised” like the many seniors who are posting on CC now about how they got into their “dream school” and cannot afford it, but never bothered applying to a financial safety school so they are now in danger of not going to college at all (except perhaps the local community college). Good luck to you!</p>