<p>So I have a question for you guys :) I'm curious about my FA now that I've seen all the complaints/parties about what everyone else is receiving. I've calculated my EFC for USC around 19k (our income is around 120k) but we have very high medical bills and our house is currently worth less than what we owe (around -75k+ last I checked). How much is this taken into account? I've read the threads and understand it's around 5.3%, but if you're in the negatives do they account for that as well?</p>
<p>I haven't gotten my FA yet but I would like to prepare for the sticker shock beforehand :/. I didn't receive any aid from my state schools but they only use FASFA so.... Any helpful hints/advice? :)</p>
<p>if ur income is 120k, u prolly arent gona get any FA…just join the club :/</p>
<p>High medical bills would fall under special circumstances. There is a spot to talk about that at some point on the application - can’t remember if it is on the CSS Profile or FAFSA. If the case is extreme or unusual, it would be best to write a letter to the financial aid office detailing the situation.</p>
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No, your EFC is not usually adjusted when you owe more on your home than it is worth. If you have listed a significantly reduced value for your home (in relation to the price your parents paid) on the CSS/Profile, it would be a good idea to ask a local real estate agent if they can give you a list of homes similar to yours in your area that sold around the time you filled out the Profile. That would help you substantiate the value in an appeal. (They need to be from the time you filled out the Profile - not now, because the FAFSA and Profile are a “snapshot” of your financial situation.)
This is already an unusually low EFC for that income level. Do you have a large family or a sibling who is also an undergraduate? It also may be that you listed your high medical expenses on the FAFSA and they have already been accounted for in your $19,000 EFC. (Note - when you say “I’ve calculated my EFC…” do you mean $19,000 is your estimate, or the actual EFC you received after completing the FAFSA?) If you did not list your unusual medical expenses on the FAFSA or Profile, they could be part of an appeal.</p>
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This is a very good idea. Families at that income level often have assets the kids are not aware of, especially if you have been at that income level for a relatively long time. If the family has had a very recent jump to that income and so have not had time to amass the assets the school might assume, that recent increase might be part of an appeal.</p>
<p>@alamemom
Thanks for your reply 
I will definitely check on the real estate values for our home and talk to my parents about it. USC asked for documentation stating the amount owed on our mortgage- is this a good sign? The EFC is the actual one from FASFA I just rounded down a little, it was 19000 and some change. It might be lower because we have 0 in assets and I have one sister in college and my parents are paying for it all since she couldn’t be bothered to fill out FASFA -__-.</p>
<p>Also, our income has recently gone down since my dad was hurt on the job and has been off work for going on 4+mo. Do I need to update FASFA or Profile? I also received 5500 in stafford loans from UMiami in addition to a merit scholarship. Would I be looking at about the same from USC loan wise? </p>
<p>Sorry for all the questions! I really appreciate the help! :)</p>