<p>I filled out the FAFSA4caster and it gave me an EFC of 50. How much does this affect the financial aid a university will give me? Say I go to a school that costs $50,000 per year, because of my EFC will the school give me a significant amount of financial aid?</p>
<p>Thanks for the help!</p>
<p>It very much depends on the individual school and other factors. Use the NPC at each school’s website to get a general idea of what kind of aid you might receive from that school.</p>
<p>Thanks! I used the NPC on nyu.edu and it estimated total grant aid at $38k!</p>
<p>Nyu is more than 50 per year, so how will you get the rest? It is more like 65, yes?</p>
<p>Be careful. Not all schools meet your cost. Most do not, they just give you a bill. Nyu does not guarantee to do that. Please read the fAQ on top.</p>
<p>A $38k grant is a lot of money. Sounds great. But, and a big but, a direct loan of $5500 freshman year and a Pell grant of about $5600 still leaves you and your family with a gap in the $10-15k range. With a $50 EFC it doesn’t seem likely you and your family can afford to cover that. You need to look at the bottom line of what is left for you to pay, not just at how much you are getting.</p>
<p>You’re confusing 2 things. Your FAFSA EFC is what the gov’t thinks your family can afford. That’s not necessarily the same thing as what a college can afford or is willing to give u. Schools don’t have bottomless pockets (except Harvard)</p>
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You’re confusing 2 things. Your FAFSA EFC is what the gov’t thinks your family can afford. </p>
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<p>Exactly. The gov’t has determined that your family’s income is so modest that it can only afford to pay $50 per year.</p>
<p>HOWEVER…the fed gov’t cannot demand that colleges give you the rest of the money. Not only does the fed NOT have such power, but most colleges don’t have nearly enough money to give needy students.</p>
<p>NYU costs over $60k per year. You were given an estimate of $38k of grants (INCLUDING a PELL GRANT). You can also borrow $5500. Obviously, your family can’t pay the remaining $20k per year. NYU won’t be affordable.</p>
<p>@annoyingdad That NYU NPC result likely ALREADY included that Pell Grant</p>
<p>So…how will you pay the remaining costs to attend NYU? After they generous grant, you will still have nearly $30,000 a year to fund. Can your family do this? If not, NYU is not affordable.</p>
<p>Don’t look at how much they are giving you. Look at how much you end up having to pay.</p>
<p>thanks for the sobering responses. I guess I will have to look at other options</p>
<p>Noah…please tell me that your family does not own its own business…or that your parents are self employed…or divorced. Or own property other than your primary residence.</p>
<p>If so, the net price calculator will NOT be accurate.</p>