<p>I'd say my parents make around 150k+ but not more than 200k. My dad never did FAFSA, but he said he'd guess that our EFC would be around 50k. Thing is my brother is already in college taking up about 30k. This would mean I should definitely say I intend on applying for financial aid on the common app right? Most colleges I'm looking at will be around 50k, and I dont think its feasible for my dad to be paying 80k for 2 kids for undergrad. </p>
<p>Another point, can someone explain how this would work? For example I am looking into the UC's. Would they be giving me 30k in financial aid (80K minus EFC?)? Or would it be my brothers school? Or is it loans? I dont think loans would do any good for me..</p>
<p>I would bet most aid you might get WILL be loans.</p>
<p>First step is to have your parents fill out a FAFSA forecaster (a rough prediction of your EFC). It sounds like maybe your dad already did so with your brother? Otherwise I don’t know how he’d have that guesstimate.</p>
<p>Anyway, start there. If he’s paying tuition for your brother while you are in school, that will impact things and may help. However, at that income level, I would expect a lot, if not all, aid to be in the form of loans. There are few (no?) schools that guarantee to meet all need without loans.</p>
<p>If you are a very good student, you might want to explore merit scholarships, most of which are separate from need-based aid. </p>
<p>Find out what your dad can pay. Be sure to apply to some financial safeties, not all 50k and up schools. Do your parents have some savings, too, to help pay?</p>
<p>With this income…even with two in college, you would not get much in need based aid EXCEPT at perhaps the MOST generous schools which are also the most competitive for admissions. </p>
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<p>That might be close…depending on your parents’ assets and the exact income number. There is a large difference between $150K and $200K.</p>
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<p>You need to talk to your DAD (and mom) regarding how much they are able and willing to pay for college for you.</p>
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<p>What do you mean here?? What is “$80K minus EFC”…what do you mean? I’m not following this AT ALL. First…the UCs financial aid comes primarily in the form of the Cal Grants. If you are NOT a CAL resident, you would be ineligible to receive this. If you are a CA resident…I think your family income (even with two in college…not sure this even matters) is too high for the Cal Grant. If you are an OOS student you are not likely to receive enough aid to attend a UC. I think you will see very little aid from the UCs except loans…and the max Stafford loan for a freshman is $5500.</p>
<p>If you are a resident of CA, why would you need $30K in financial aid? Do the schools even COST that much for instate residents? </p>
<p>If your “family” EFC is $50,000…then with two in college…EACH of you would have EFCs in the $25,000 range. </p>
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<p>You should also look for some schools that meet your family financial criteria…but you will need to talk to your parents to find out what that is.</p>
<p>“I am looking into the UC’s. Would they be giving me 30k in financial aid (80K minus EFC?”</p>
<p>The UC’s wont offer any FA if you are OOS and your Dad makes $150 .[The UC’s are public colleges, supported by Calif taxpayers, and Calif has LOTS of financial problems now and for the foreseeable future] The UC’s are admitting more full pay OOS students who are able, and willing, to pay OOS tuition plus COL expenses in Calif., in order to raise revenue for the UC system.</p>
<p>Well basically in the end I have the choice to go if I want, because I did my part in high school. I really want to go to a school like UCLA, but I dont want to put the financial burden on him. I heard UCLA wont help for the OOS fee (23kish I forget) so I’d be looking at my dad paying the whole COA for BOTH schools. Would my brothers INSTATE school be able to help cover the 30k?</p>
<p>And Idk how he got the 50k number, as you said it was just a guestimate. He’s never applied for FAFSA because he said its too much work, but I’m making him do it this year.</p>
<p>I live in PA and my brother goes to Pitt so I would be the OOS, as stated in my post above Pitt would be more generous in any kind of grant money because of the in state status right?</p>
<p>Sorry for the ?'s I’m just really lost on this whole money thing.</p>
<p>Your brother attends U Pitt. That school does NOT meet the full need of accepted students. PLUS with your family income…even with TWO in college, your brothers’ family contribution would be in excess of $25,000. I seriously doubt that your brother will see a $30,000 increase in his need based aid from UPitt.</p>
<p>When FAFSA calculates your EFC it divides the part of the EFC generated by the parent EFC by the number of students in college. So, if the EFC would be 50,000, just one student in college would have an EFC of 50,000. If the family had 2 in college, each would have a FAFSA EFC of 25,000. (this does not include any part of the EFC generated by a student’s own income and assets - those stay with that student, also this only applies to the FAFSA EFC, not any institutnal EFC generated by a school’s own forms).</p>
<p>Each school only cares about the EFC of the student attending their school. So if your brother has an EFC of 25,000 his school takes their cost of attendance less his EFC to determine his need. So if his school costs $30,000 and his EFC is 25,000, then his need is $5000. Same for you. If your school costs $50,000 and your EFC is 25,000, then your need is $25,000.</p>
<p>What really matters is how and if the school meets need. Many schools do not meet need at all. Others do, but with a lot of loans. A very few do without loans.</p>
<p>Your Dad should fill out the FAFSA this year, since it MAY reduce the amount he has to pay overall, since he will have 2 in college, BUT UC OOS will cost your family big $$$.</p>
<p>Just curious Dwight…I just looked at the costs to attend Pitt as an instate student for 2011-2012. I found the following:</p>
<p>15272 Tuition
860 Mandatory fees
!2000 Room/board (and I chose the MOST expensive options)</p>
<p>Total $28132…were you “rounding up” to $30,000 for your brother? With a family contribution of $25000 per FAFSA, that would leave about $3132 of “need”. My guess is that Pitt would not give your brother MORE than that. Schools do not provide grant monies to fund the family contribution.</p>
<p>If you are an excellent student and can get into a school that meets 100% need, then you may be able to get some aid while your brother is in school</p>
<p>Dwight, what are your Stats? Do your PSAT scores qualify you for NMSF standing in your state? If so, then there are lots of other U’s that offer big automatic scholarships to NMSF’s, including USC, also in LA.</p>
<p>You need to apply to some schools that will give you a big merit scholarship. Your family should have considered all this when your bro was considering his school.</p>