<p>Not to sound completely ignorant but I was wondering whether a parent EFC of $24,000 is good/normal/acceptable for a $52,000 tuition and a parents' AGI of about $98,000 without any assets.</p>
<p>I hope you mean cost of attendance is $52k not tuition. Anyway, COA is not a factor in determining EFC. The EFC sounds about right for the income & assets you describe. The big question is what percentage of need, $28K, will the school meet, and how will they meet it? (grant, loan, work-study)</p>
<p>Tuition doesn't have anything to do with EFC. EFC is based on family income and assets. And yes, EFC of $24,000 for an AGI of $98,000 is spot-on.</p>
<p>You can run your parents' financial information through the FAFSA calculator at FinAid</a>! Financial Aid, College Scholarships and Student Loans to get an estimate of what the federal EFC will look like.</p>
<p>Your EFC looks about right to me as others have said. Now the big question is how the colleges are going to meet the $28K of need. With that EFC, Pell is not in the picture, so that means all you will get from the government are subsidized loans. Unless your state has money for that EFC level, it is up to the college to come up with money. Most will give a package of grants, loans, work study. The question is how much grant money will you get, and if the college will gap you. Good luck.</p>
<p>The University is paying 23,000 is grant and another 2,500 about in work study.</p>
<p>I realized that Tuition is the wrong term. I meant COA like you guys mentioned.</p>
<p>Thankx</p>
<p>
[quote]
a parent EFC of $24,000
[/quote]
Please remember that it is not a parent EFC. It's the Expected Family Contribution - that includes YOU, too. You are also expected to contribute through summer work/savings.</p>
<p>I would say that your aid award is excellent. Take out just tuition/room/board from the Cost of Attendance. Now subtract your grant. I would bet the number left is between $24,000 & $26,500 --- meaning the school fully met your need.</p>
<p>If it is difficult for your family to come up with the $24,000 (EFC), remember that you can borrow up to $5500 in an unsubsidized Stafford loan freshman year. This may or may not be something you will need to do, but it is good to know that the option is there if you need it.</p>
<p>Chedva, I have a student contribution of 2100 plus another 2000 in work-study so the number I gave was only for my parents</p>
<p>OK; sorry for the misunderstanding. It's just that many kids come on here believing that only their parents are responsible. It's good to know that you're not one of them!</p>
<p>I do believe that my parents should pay for my education the same way my grandparents paid for theirs and I will pay for my kid's education but I think that I should work and help out..</p>
<p>Your parents are under no obligation to pay for your college education - what their parents chose to do has no bearing on it.</p>
<p>The govt believes parents are responsible. That's the whole premise of FA. Unfortunately, some parents refuse to sacrifice for college - which is different from the situation where parents truly can't afford to pay. FA helps those students.</p>
<p>I agree with Chedva. Students should contribute also.</p>