<p>I'm going to be attending Binghamton University next year. It costs around $30k with R+B. I finished my FAFSA today and it said my families EFC is $14,000. No way my parents can contribute that much to my education not even close. How much money do you think I can get from Bing? What should I do? Your help is appreciated.</p>
<p>Are you a NY resident? $30k at Bing U would mean out of state I guess. Anyhow, unfortunately you may have some sad news ahead - Your cost may be MORE than $14k! Binghamton does not “meet need” so they may have a gap in their aid package in addition to the $14k EFC. Now, if you have merit scholarship(s) in their package, maybe the cost comes down for you. Is that the case? Hopefully, you receive merit aid because I don’t think they’ll give you need aid that even get you to $14k family contribution.</p>
<p>Do you have an affordable back-up college you’ve applied to?</p>
<p>I doubt that you’d get much/any free money from Bing unless you qualify for a merit scholarship there.</p>
<p>Look at it this way, why would Bing charge higher rates for OOS students and then turn around and give aid to cover that higher cost. They might as well just charge the instate rate.</p>
<p>Use the net price calculator on Bing’s website and tell us what it says.</p>
<p>I’m going to be attending Binghamton University next year. It</p>
<p>Unless you have the funds to pay, this isn’t likely going to happen. did you apply to any affordable schools?</p>
<p>I put your EFC into Bing’s NPC…</p>
<p>Estimated Cost for 1st Year of Attendance
Estimated tuition and fees: +$14,661
Estimated room and board: +$10,614
Cost Paid Directly to*Binghamton University $25,275
Estimated books and supplies: +$800
Estimated personal expenses: +$750
Estimated transportation: +$250
Estimated total cost of attendance: $27,075
Estimated grants and scholarships: -$263
Estimated Net Price: $26,812</p>
<p>(Price of attendance minus grant aid) *
Estimated loans: -$11,315
Estimated work-study award if eligible: -$1,378
Estimated out-of-pocket cost: $14,119 (Net price minus loans and work-study) </p>
<p>The only “free money” estimated is $263.</p>
<p>The crazier part is the loan estimate for a freshman of $11,315. I don’t know what they’re using to estimate those loans. A federal stafford loan would be $5500. It looks like they’re estimating another nearly $6k in loans…I’m wondering if they’re including Parent Plus loans for that $6k???.</p>
<p>Anyway, $11k in loans is too much, and your parents would still be expected to pay the $14k.</p>
<p>btw, your EFC has nothing to do with which college you are attending (unless the COA is less than the COA). </p>
<p>All colleges will expect that you pay your EFC unless you are one of the rare instances where a college gives scholarship/grant $$ that replaces some of the EFC. </p>
<p>Parents are supposed to be paying EFC out of savings, current income and loans if necessary.</p>
<p>this is why I tell people to figure the EFC WAY before their kids starts applying to college</p>
<p>Serbestofall: consider working backwards - how much can you and your parents pay for college including using cash in the bank and new loans that you and your parents are willing to be on the hook for? Then find a college in that COA range.</p>