<p>How much of financial aid package can I expect if my parents make between 40,000 to 50,000?</p>
<p>in terms of grants, loans, etc.</p>
<p>I don't know that much specifically about Wake's financial aid, but according to their website they meet 100% of demonstrated need. To get some idea what your demonstrated need is I would check out these links: <a href="http://talk.collegeconfidential.com/showthread.php?t=1151%5B/url%5D">http://talk.collegeconfidential.com/showthread.php?t=1151</a></p>
<p>No idea on how the breakdown between grants and loans would be, sorry.</p>
<p>thanks, but I was hoping that maybe someone in the same range could give me a specific answer.</p>
<p>I applied as a transfer to wake forest last year and the income was a little below your range and i got around 24 thousand in grants and the rest in loans (I didnt like the offer, so i didnt go to wake). Transfer students dont receive any type of scholarships though. Hope that helped!</p>
<p>thanks, but I doubt I will qualify for any scholarships. I might still go to wake, but thats 20,000 a year in loans...80,000 by the time I graduate. Unless they give me more money, I dont know if it is worth it (from a financial aspect)</p>
<p>also, if you go to collegeboard.com and click on the financial aid section, it says:</p>
<p>Scholarships / grants: 62%
Loans / jobs: 38% </p>
<p>thats normally around 27 thousand in grants and the rest in loans, which is about the same estimate I gave you. Oh, and also, I would like to mention that in my financial aid package i got, wake did not meet 100% of my need. I was missing about 3 to 4 thousand in loans or grants that needed to be covered (my efc was around 125). Even on collegeboard.com it says, Average percent of need met: 90%. So don't take what they promise or say so seriously :-\ because you never know what you might get until you get it!</p>
<p>Unfortunately people confuse the EFC with the institutional methodology. Collegeboard recognizes both and it is known that the EFC is lower than the institutional method, ie, the one that most similar universities use. It is unfortunate but I was aware that was the case.</p>
<p>In any event I was also a transfer student and received more aid than the EFC number (ie higher than institutional method). I had good scores and very good recommendations from college professors in the department that interests me...</p>
<p>The 'loan' component depends on how much aid you are supposed to get. Those that are not eligible for much tend to be eligible for stafford loans which pulls up the loan percentage in the aggregate. Those that are eligible for say the full amount receive mostly grants as well as work study and subsidized loans. </p>
<p>I'm not sure why you think you cannot afford it. You won't have 80k in debt because your income bracket is not great enough to warrant that.</p>