<p>My number is 03377, exactly what does this mean? I Will be responsible for 3,377?</p>
<p>It means you may be offered various forms of financial aid to cover your costs above $3,377. However, you are guaranteed only a small federal Pell grant and $5,500 in federal loans. There is no guarantee you will receive more than that. Everything else depends on each school’s policies.</p>
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It means the minimum you will be responsible for is 3,377. </p>
<p>With an EFC if 3,377 you will be eligible for some Pell grant probably around $2150. (the max Pell grant is $5550 but that requires a 0 EFC). It is likely you will get some subsidized loans.</p>
<p>The rest depends on the schools cost and it’s policies. A very few schools promise to meet full need without loans. Most do not.</p>
<p>The only other federal grant is the SEOG. That has very limited funding and many schools only offer it to students with 0 EFCs, and even then generally have insufficient SEOG finds for all their 0 EFC students.</p>
<p>We really need more information…</p>
<p>Is this for your child? Does your child have a non-custodial parent? Will your child be applying to schools that require CSS Profile? </p>
<p>Your FAFSA EFC only determines federal aid. With your EFC, you would receive a small amount of federal aid. Not much…certainly not enough to pay for college.</p>
<p>At most schools, you will be expected to pay more than your EFC since most schools do not have much aid to give.</p>
<p>For instance, at a school that may cost $23k per year, you might only get $2100 in a Pell grant, 5500 student loan, and 2500 in work-study. You might be expected to pay over $12k per year at that school…even though your EFC is much lower.</p>
<p>What it means i that the FAFSA calculations come up with that number as your Expected Family Contribution. Doesn’t mean any college will honor it and give you the funds so that is all you have to pay. It does make you eligible for government PELL money. If the cost of your college is such that you have need, which is likely, you are also eligible to have some of your Stafford loans subsidized. Anything else is up to the individual college. </p>
<p>Those colleges that meet full need usually want another fin aid app in addition to FAFSA, usually PROFILE and that goes into the finances more deeply.</p>
<p>I disagree about flushing ones aspirations for law schools if you don’t make the top 100. If that 's what someone truly wants to be, a lawyer, s/he should pursue that route. I have two brothers who went to local law schools who are highly successful. Everywhere I turn I see more attorneys who went to law schools NOT in the top tiers than are, and many are doing just fine, thank you. In fact those who do very well in those schools often do better than those who do not in better known ones. My friend was first in her class at a non top law school and she became the first female partner at a well known law firm. To her a dubious achievement since she worked so hard those years, and is now working on her own so she can have a life. </p>
<p>I think that anyone going into schools and investing time and money needs a good view on the reality of what sort of jobs and salaries are going to be available. But I certainly would not recommend anyone whose options do not include the top two tiers to chuck the entire plan.</p>
<p>The law school where I work is very inexpensive and its grads get good jobs. That sounds like a deal to me! Contrary to popular belief, there are law schools that are “worth” attending that are not T14 (or even close).</p>