<p>ok, I ran my family's numbers and according to that it says our EFC is 8k (institutional) is that acctualy about what I will paying and the college will meet the rest? or does that just mean I will be considered for aid for up to that point?</p>
<p>Hope my question makes sense</p>
<p>It depends on the college. If the college guarantees to meet 100% of financial need, your family will be expected to pay around 8000, and the college will offer aid to cover the rest. However, aid may be any combination of grants, loans, and work study. Thus two schools offering 100% of need to be met may have totally different offers. One may offer large grants, while the other may offer mainly loans. That is why you need to compare offers.</p>
<p>If a college does NOT guarantee to meet 100$ of need, there may be a gap between the 8000 and what they offer, so that you will need to find some other way to come up with more money.</p>
<p>That is what federal methodology come up with as your expected family contribution. If FAFSA is the only form the college uses and if they do not request other info (such as non custodial parent income if your parents are divorced) AND IF the school guarantees to meet 100% of aid, you'll get a package to meet all but $8000. But Susantm is right about how things can work out. Also many schools with the 100% of aid guarantee also want a PROFILE which asks for additional info including home equity.</p>
<p>ok, thanks for clearing that up for me.</p>