<p>I recently filled out my FAFSA and realized my EFC is over 40,000. Does this mean that I basically have no chance for financial aid? My parents are unwilling to contribut more than $10,000 a year.</p>
<p>It means that you are not eligible for federal money. You may come out better under PROFILE which most private school, and the more generous aid schools use. Those schools may have costs over $40K too. There is also the possibility that if you qualify for some aid at such schools, it can open up some merit within aid money that would go over your EFC. </p>
<p>However, getting $30K or more a year at the top priced schools is highly unlikely. You need to look at low sticker prices with heavy merit if your parents are truly not going to come up with more. In any case, you need some financial safeties where you can be sure that you'll get in and the cost is something manageable as well.</p>
<p>Like cpt stated above, $40,000 will diaqualify you from federal money. There are, however, other avenues for financial aid, including merit scholarships from the school, outside scholarships (usually at the local level), and loans. If the FAFSA calcuated your EFC to be $40,000, it might be a good idea to review this number with both of your parents. The # FAFSA gave you was produced with the information provided about your family's current financial situation. If you talk to your parents about this, they might reconsider the amount they are will contribute, especially if they care about where you go to school.</p>