Financial Aid at most colleges?

Paying for College
1

<p>Hello.
So, I'm wondering if I should apply for Financial Aid</p>

<p>My family income is 130k b4 taxes, 95-100k after tax</p>

<p>and we own a house..thing is, my mom just put in all her savings into the house in order to save a couple hundred dollars each month on mortgage..so we have almost no $ in the bank.</p>

<p>Do I have any chance at financial aid?</p>

2

<p>Apply and see. The %age of need met and the generosity of the schools varies depending on the school’s wealth. So apply and see what happens…but also have a school or two in your applications where your finances won’t be an issue.</p>

<p>You should discuss college finances with your family so that you will know how much they are going to pay each year.</p>

3

<p>At **most **colleges, you won’t get much (if any) aid. You can get a small loan.</p>

<p>Where are you applying? </p>

<p>Your EFC is going to be around $27k. That’s too high for aid at many schools. </p>

<p>Even at $50k schools that give decent FA, you would likely only get a small grant, a student loan, and work study…(not a lot of “free money”)</p>

<p>If your parents can’t afford their EFC, then you need to apply to cheaper schools and/or schools that will give you big merit for your stats.</p>

4

<p>I see that you’re a junior and interested in NYU and BU.</p>

<p>Forget about NYU if you need aid. NYU is the poster child for horrible aid.</p>

<p>BU doesn’t meet need, either. </p>

<p>You need to ask your parents how much they will pay each year. That info and your stats (GPA and test scores) are likely going to determine where you should apply.</p>

5

<p>Thanks “mom2collegekids”!
I’m wondering how you calculated my EFC?</p>

6

<p>I used an online EFC calculator. It’s only a rough estimate. You mention not having savings. I dont’ know how big your family is, so I put in 4 family members, and that you’re the only one going to college…</p>

<p>Again…it’s just an estimate to give you a general idea. This way, you’ll know it’s not like $10k or something like that (unless your family is big and/or you have siblings in college).</p>

7

<p>But to be eligible for federal student loans you will have to file FAFSA.</p>