How much grant can you get with EFC of $15,000?
No Pell grant. You need an EFC of less than about $5,000 for that.
Depending on the school’s COA, the student might get a subsidized loan, or federal work study, SEOG is less likely.
Depending on state grant aid policies, you might or might not qualify for a state grant.
Some schools give institutional need based grants.
Did you run the school’s net price calculator? What aid does it estimate?
Did you apply to schools that give merit for your stats? Any instate schools you can commute to?
What can your parents afford to pay per year? You can borrow $5,500 student loan.
School total cost $30,000
type-public
got merti aid fo $7,000
Did you run the school’s Net Price Calculator? It looks like you’ll need to come up with $23K/year. You will be allowed to borrow $5500 as a freshman. If the school meets need you might get some need based aid. That’s why you should run the NPC on the school’s web site.
What state? And what is your parent income?
Some states have grants for students with parent incomes under a certain amount.
Your FAFSA EFC is $15,000 and your family will be expected to pay at least that amount. . You got $7000 in merit aid…so total $22,000. And you can take the Direct Loan for $5500…totaling $27,500. That leaves you with $2500 of that $30,000 to fund.
Do you have a job? You should be able to earn $2500 a year to cover the balance.
Or is it that your parents can’t afford to pay the EFC? Colleges so NOT give need based aid to cover the EFC.
Probably none. You’ve got $23K left after merit. A $5500 fed loan (part may be subsidized) will be included in your aid package, leaving a balance of $17.5, which is almost at your efc. You might be awarded work study to help bridge the gap, but its a pretty small gap.
Public school in Ohio (Miami University)
Parent income $65,000
planning to go to med school so don’t want too much loans
So…the big question is…can your parents pay their $15,000 EFC?
Is that $65,000 income before or after taxes taken out?
65,000 before taxes
Parent doesn’t want to pay anything
If your parents don’t want to pay the $15,000 EFC, then this school is unaffordable.
The only way you can fund college grant wise without having parents pay EFC is if you get a FULL award MERIT scholarship. You didn’t.
Colleges awarding need based aid expect the family to pay their calculated family contribution. Need based aid is NOT awarded to pay the EFC.
You have $7000 merit aid plus the $5500 Direct Loan. That’s $12,500…leaving about $18,000 left to fund if your parents are contributing $0.
What other options do you have on your application list?
If your parents REALLY aren’t going to pay a dime…then you need a full ride some place.
[QUOTE=""]
GPA:3.87 unweighted, ACT: 25>>>>
[/QUOTE]
You need to go to an affordable local school, and understand that most kids that talk up med school in HS never never get near medical school. Have a plan B and look at all your options for affordable, even commutable schools. Have a plan for when if and when med school is off the table. What Is your safety school?
What is the affordable college on your list…if your parents really aren’t contributing anything?
Also, you say you want to major in biology and premed? I don’t believe premed is a major. You can major in anything as long as you also take the courses required for admission to medical school.
Will your parents complete the FAFSA so you can take the ~$5500/year federal student loan? Can you live at home and commute to a local college? What are your parents saying you should do after high school? Colleges won’t give more aid because parents don’t want to pay, and you can’t borrow enough to pay on your own. Why did your parents allow you to apply to residential colleges if they won’t pay?
https://miamioh.edu/onestop/your-money/tuition-fees/regional-campuses/index.html
Are you instate for Miami of Ohio?
Can you commute to one of the regional campuses? Tuition and fees there is only around $5,000 a year so you could cover it with your student loan, and maybe you would get merit there too.
$65K income before tax with $15k EFC suggests your family asset is quite significant.
<<<<
[QUOTE=""]
GPA:3.87 unweighted, ACT: 25>>>>
[/QUOTE]
You need to go to an affordable local school, and understand that most kids that talk up med school in HS never never get near medical school. Have a plan B
<<<<
Very true. Few freshman premeds ever make it to med school.
<<<
I got into Miami University with $7,000 merit scholarship (in-state)
<<<
School costs 30k and you got $7k in merit, which is a surprising amount…lucky to get that. There is virtually no way that you’d get much more in free money. At a minimum, the school would still expect your parents to pay their 15k portion, likely the school expects them to pay more.
Your thread is confusing. You have a $15k EFC yet you know that your parents won’t pay anything. Your stats aren’t high enough for much merit at most schools.
Did you apply to a public Univ that you can commute to?
Can you commute to a branch campus for two years, putting money aside for the last two years?
Do your parents expect you to go to college and if so we’re they expecting to take loans for you?
^^^
Likely won’’t work parents who won’t contribute won’t set money aside for later. Transferring later means losing the 7k per year merit, which is more that this student could likely save to put towards those last two years. The student will face an annual $7k loss for those last two years…having to pay the full cost each year.
Yes, the question is …how did the parents expect school to be paid??? Or did they just assume this student would get more money or go to a local school?
Did you run the net price calculator at Youngstown State?
http://cfweb.cc.ysu.edu/finaid/estimator/est_estimator.cfm
Direct costs instate are around $17,000 for tuition, fees, room and board and the net price calculator gave an estimated $5,000 merit and grants for your stats and EFC.
So net price would be $12,000
You would have your $5,500 loan and can earn about $2,500 from a summer job.
Would your parents be willing to pay the remaining $4,000 a year?
@AS12345 I’m putting this reply on YOUR thread. I put it elsewhere.
The NET cost is what matters…not the amount of aid you receive!
The cost to attend Miami is $30,000.
Cleveland State and Kent state cost about $24,000 a year.
Wright State is $21,000 a year.
These totals include tuition, fees, room, board.
So…a $7000 merit award from Miami leaves a net cost of $23000.
A $4000 merit award from Kent leaves a net cost of $20000.
A $3000 merit award from Cleveland State leaves a net cost of $21000.
A $3000 merit award from Wright State leaves a net cost of $19,000.
@AS12345 your merit award was higher at Miami…but your actual net cost is lower at Cleveland State, Wright State, and Kent.
So as an example…if you chose Kent…the cost of attendance is about $24000 a year. You got a $4000 merit award. Add to that the $5500 Direct Loan, and your balance to cover is $14,500…LESS than what you need to cover at Miami…because the cost of attendance at Miami is $6000 more than Kent.
Wright State is your least costly option…with your merit award of $3000 and the $5500 Direct Loan, your net cost would be $10,500.
With an EFC of $15,000, you likely won’t be receiving need based aid at any of these schools.