<p>I'm new the board so if I seem a bit confused, don't mind me!
But here is my case, I have already finished and submitted my applications to the schools I hope to attend, the problem now is to find a way to pay for them. I am for the most part going to have to come up with the money to pay for my education with by myself... I submitted my FAFSA application which is still processing, however i did receive my EFC which was 00007. Hopefully this will help, but I am also a Florida resisent and if I attend an in-state, public university i will also receive bright futures. The problem is that I am not sure how much my FAFSA will help, do i just have to wait until it processes to find out or whats the deal?
I applied to the University of Michigan also and it talks about applying for the CSS...it just confuses me how this is an application for financial aid, yet you have to pay to submit it/create it/send to the schools? And how much does the CSS actually help, because Michigan is expensive as it is, especially being out of state! Is it worth it?!
Thanks for the help!!!!</p>
<p>First…are you applying for financial aid for school starting in September 2013? If so THAT FAFSA is not available for submission until January 1, 2013.</p>
<p>If you are applying to a school that requires the CSS Profile…which is an additional financial aid application form. you MUST complete it for consideration for institutional need based aid.</p>
<p>Your EFC does not make sense… are you sure you have it right? Other than that, what thumper1 said.</p>
<p>P.S. I don’t think university of Michigan meets full need for out of state students. </p>
<p>If you are eligible for Bright Futures, you are fortunate. This will likely give you an instate option to consider.</p>
<p>If you’re OOS for UMich, then it won’t likely be affordable for you. UMich is a public and they only give lots of aid to instate students.</p>
<p>Congratulations on getting your applications done. </p>
<p>However, the FAFSA you completed is no good if you are intending to start school in Fall of 2013. If you are starting college in January or the summer, the FAFSA will work for that time period, but for the school year beginning Fall of 2013 and ending in May/June of 2014 needs a FAFSA that isn’t even available yet. It becomes available on line on 1/1 2013. The reason for this is that it needs information for the 2012 calender year, the same year for which you and your parents would file 2012 1040 or other tax returns You need 2012 income to complete the form and until the year is done, you don’t have the final numbers.</p>
<p>But you apparently did complete the FAFSA that would apply up to the end of summer of 2013, and no harm done. You got the experience, so doing it again early next year will be easier. You know what you will need and you have your PINs ready.</p>
<p>First of all, unless you are considered independent, which means age 24,married, have a dependent, a veteran, or a ward of the state or removed from your parent by courts for cause, you know you had to use your parents information as well as your own. Also, unless you are working and/or have significant assets, it’s not likely that right out of high school, you can come up with the money to pay for college unless that college is a local school state school where you can live at home and commute., or unless you get a generous financial aid package fom a college or a lot of scholarship money. Getting generous financial packages nearly always means having something colleges want and are willing to pay for. Those schools that meet full need are tough in terms of gaining admissions, and getting scholarships even more competitive. So your grades and test scores have to be up there in order to have a good chance of getting a lot of financial aid and/or merit money.</p>
<p>That you have Bright FUtures, means that is that much off the cost of instate schools. With a very low, near zero EFC, you will be able to get about $5550 in PELL money per year, and borrow up to $5500 in Stafford loans in your own name. Those are the guaranteed amounts, if you did fill out the FAFSA correctly. You should have some state schools, including some local ones where you know you can meet the cost yourself and can get accepted.</p>
<p>You like U Michigan, which is fine. Once you have your bases covered in terms of schools you know will accept you and that you can afford, you can play the lottery all you want. Yes, UM is very expensive for OOS kids. The other thing about UM is that the chances are not good that they will meet your need. Your BF is no good in Michigan and the PELL and Staffords, your two federal aid piecs are not going to go far with what UM charges. IT’s all up to their financial aid office as to what they will give you, and unless you are a top student in their applicant pool, the chances are slim that they will meet your need. UM does meet full need for in state kids, but they do not do the same for OOSers.</p>
<p>I suggest you pick some schools that tend to meet full need if you have the grades and test scores to be competitve in admissions to them, and see what they will end up giving you. Without your academic profile, I can’t even begin to suggest any. </p>
<p>CSS PROFILE is just an application for financial aid that digs deeper than FAFSA which is for federal and sometimes state aid that many school also use to gauge need. CSS PROFILE tends to ask for things that FAFSA may exclude such as principle home equity, non custodial parent assets, sibling assets, etc. It doesn’t “help” or do anything, It’s just another application and the schools look at what number it generates and then put together financial aid packages usually using the FAFSA generaed aid such as the PELL and Staffords as a base. Some school will meet 100% of what that number generates, others do not. That is why you need to research where your best chances are to get aid.</p>
<p>If you are applying as a fresman for Fall of 2013, the FAFSA is due if possible February 15 (and it’s not available until after Jan. 1) but Michigan prefers that the taxes be complete and retrieved and the final priority deadline for Michigan is by April 30. The profile you do indeed pay to file this and Michigan requires it no later than April 30. you can apply for aid before you get an acceptance.</p>
<p>Here’s the link to financial aid;<br>
[Office</a> of Financial Aid: New & Prospective Undergraduates](<a href=“http://www.finaid.umich.edu/Home/HowtoApplyforAid/NewProspectiveUndergraduates.aspx#application]Office”>http://www.finaid.umich.edu/Home/HowtoApplyforAid/NewProspectiveUndergraduates.aspx#application)</p>
<p>Do know however, as others have said, that Michigan does not guarantee to meet full need for out of state students.</p>
<p>Do NOT wait until April 30 to complete and submit your financial aid forms. You will need to make a matriculation decision by May 1. If you don’t submit your FAFSA and Profile until April 30, you will NOT have your financial aid packages by May 1. You will want to know your financial aid before you make your college choice. </p>
<p>Submit your FAFSA and Profile ASAP after February 1. You should have all of your tax info for 2012 by then.</p>
<p>Another thing…some forms of aid have limited dollars. Federal Work Study and Perkins loans have limited funds and the money for these CAN run out. So submit early for your best chance at getting these.</p>
<p>Well, the OP appears to have filed TOO early. A trial run of sorts. But, yes, do not leave the financial aid forms to the last minute because some aid is distributed on a first come, first served basis.</p>
<p>Well, I guess it did not hurt applying for the FAFSA early…I will apply for it again for the Fall 2013 term in January. I am guessing it would just be easier, cheaper, and less hectic to attend a school in Florida, my choices here would be University of Florida, University of South Florida…who has already offered me an $8,000 scholars award, and the University of Miami…but this is private which is another problem in itself! I also will receive BF for sure since I am in the IB program and aid which hopefully will end up lowering the cost of my education…Thank you all for your replies! I have a lot of family in Michigan and I was told another option that was possible was to take a year off after my senior year, live with a family member for a year, and then get in state tuition. But I felt as though this was backtracking when I could go to UF for example and rather than just wait…actually begin my education in still a great school!
So I guess the next step is to just wait until 2013 and apply for FAFSA then and in the meantime apply for various scholorships !?:)</p>
<p>It is highly unlikely that you will be able to establish instate residency in Michigan unless your PARENTS move to Michigan. The domicile of the parents is used to determine residency for undergrad students in Michigan, I believe.</p>
<p>I would wait and see. My cousin’s daughter, from Alaska, got a full ride to Michigan, as an engineering student. My daughter was initially flagged as a “non-resident” so we saw what her package would be as a non-resident. We got it corrected to “resident” and the new package had the same EFC as the original one. </p>
<p>Just wait and see how it pans out.</p>
<p>2016barnard…your EFC would not change due to residency status. What WOULD change is the cost of attendance. If your family had been expected to contribute $10,000 as a non-resident that amount would have been the same for a resident. The difference would have come in the total costs for attending as an OOS student…and your $10k would not have covered high a percentage of the cost of attending as for instate costs.</p>