<p>So I just saw my completed FAFSA--EFC was between 60 and 70, but I'd rather not give out the exact amount. How is this going to affect FA status at these schools?</p>
<p>Accepted (scholarship after school name):
Clemson EA, 10K per year
Miami OH EA, 12K per year
Fordham EA, 14K per year
Southern Methodist EA, 17K per year
Alabama, 22K per year (unless my NM status changes, which would then make it a full ride)
Illinois in-state preferred, 15K per year</p>
<p>Waiting on:
Vanderbilt EDII
BC
Dartmouth
Georgetown
Indiana (applied months ago, still waiting)
Michigan
Northwestern (legacy)
Notre Dame (huge legacy)
Richmond
Tulane (actually showed genuine interest, wrote a pretty good "Why Tulane")
Washington & Lee
Washington U.
William & Mary (wrote optional essay)
Williams</p>
<p>EFC was between 00060 and 00070? Or between 60K and 70K? In either case you need to have the talk with your parents about how much they are willing to pay. If your EFC is 60-70K then you will get no FA except an unsubsidized Stafford loan ($5.5K for a freshman). We made a spreadsheet to show what the COA minus Scholarship was to know how much each school would cost.</p>
<p>Not likely getting FA from Vandy. What do you expect to get from Vandy? $2k?</p>
<p>*Illinois in-state preferred, 15K per year
*</p>
<p>UIUC gave you $15k per year as an instate student? Isn’t that unusual???</p>
<p>*Those were merit-based, I just wanted to show how much I’ve already got.
*</p>
<p>Those numbers don’t mean much without knowing how much you’d still have to pay.</p>
<p>Fordham EA, 14K per year
Alabama, 22K per year</p>
<p>For instance…that’s not even half tuition at Fordham…while for Bama it’s full tuition.</p>
<p>Right now, it looks like UIUC is the best bet if tuition is about $14k per year…Am I looking at that right? Are you getting more than a full tuition scholarship from UIUC???</p>
<p>Adding to the voices above,…the most important thing for you to know is how much your parents have agreed to contribute. That will no doubt determine which college you can accept. You “status” as your are asking is that you will be full pay (minus whatever merit $$) for most if not all of your colleges at the EFC range you have posted. True merit aid is given to students regardless of EFC…financial aid type merit you probably won’t get as you have basically “no need.”</p>
<p>'I just saw my completed FAFSA–EFC was between 60 and 70.How is this going to affect FA status at these schools?"
.
That means according to Federal calculations your parents have enough assets to pay for a college education costing that amount- 60-70 K per year, without receiving any financial aid. The Merit scholarships you have received will reduce the cost of attendance at those colleges by those amounts .
Now is the time to have the money talk with your parents, because they and you should not expect or hope to receive any Financial Aid from colleges next year based on that EFC.</p>
<p>I really hate to jump into the deep end here . . . but what the heck . . .</p>
<p>I disagree with that statement. I know what you meant but I’ll just throw out there that there is a difference between FAFSA saying “we won’t give you any aid because there are people a lot worse off than you” and “you have no need.”</p>
<p>Four years at a private college is a quarter of a million dollars. That’s a lot of money, even to people who have EFC’s of 60k.</p>
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<p>But yeah, the O/P should have known no FA is coming.</p>
<p>It is true that in the above scenario, he has no need. Need is defined as cost of attendance minus expected family contribution. If the EFC is the same as or greater than the COA, there is no need. Yes, the family may not be able to afford 60k/year. That doesn’t matter, though (unless you are hammerman’s kid ;))… in such a case, the family will want to send the student to a school they can afford on its own or with merit.</p>
<p>I apologize, I thought the EFC was total, not annual. I wasn’t “expecting” anything so much as I thought FA was always an option. We’re not exactly wealthy, despite what the numbers might say, so now I’m taken a bit aback.</p>
<p>@mom2collegekids, I was just as shocked as you are. It was 10K per for some minority scholarship, and another five for an LAS scholarship. There were only 100 Hispanics with my ACT score in the country… guess they’re playing the numbers.</p>
<p>*If Vandy determines that your “family contribution” should be $6X,XXX, you have no need. </p>
<p>====================</p>
<p>I really hate to jump into the deep end here . . . but what the heck . . .</p>
<p>I disagree with that statement. I know what you meant but I’ll just throw out there that there is a difference between FAFSA saying “we won’t give you any aid because there are people a lot worse off than you” and “you have no need.”*</p>
<p>???</p>
<p>Read my words again. I didn’t say “FAFSA” (altho I could have). I said, "If VANDY determines that your “family contribution” should be $6X,XXX, you have no need. "</p>
<p>So, what are you disagreeing with? Are you saying that even if Vandy determines that the family should pay $60k+, then Vandy should still give aid even if it’s hard for the family to pay that much? </p>
<p>Four years at a private college is a quarter of a million dollars. That’s a lot of money, even to people who have EFC’s of 60k.</p>
<p>Do you realize how high an income has to be to have an EFC of $60-70k? During that 4 years, then will have earned about $800k-1M.</p>
<p>*@mom2collegekids, I was just as shocked as you are. It was 10K per for some minority scholarship, and another five for an LAS scholarship. There were only 100 Hispanics with my ACT score in the country… guess they’re playing the numbers. *</p>
<p>Ahhh…I didn’t know that you’re a URM. </p>
<p>Anyway…if another school offers you more, then contact Bama and see if they’ll increase. You’re a URM and desirable. Contact Mary Spiegel at Bama.</p>
<p>BTW…what is your SAT OR ACT? If it is very high, then Bama usually awards a $4k per year bonus anyway on top of full tuition. You may have fallen thru the cracks because they think you’re going to be NMF.</p>
<p>And, what’s going on with your NMF appeal? PM me about that.</p>
OP, you may not have significant savings to pay out of pocket for a top college but your family has the income. That being said, it’s great you applied to schools where you would also get merit aid. Now you’ll have many options.</p>
<p>You may very well receive a nice merit scholarship at Vandy. Make sure you have a financial safety, then hope for the best with your other schools. You have great scores, so who knows what may come your way. It most likely won’t be need based, but you may get some nice scholarships at schools that offer them.</p>
<p>In answer to your original question (“what happens now?”), at least part of the answer should be to talk with your parents about what they are willing to pay. You haven’t indicated whether you’ve done that yet. It’s hard for most kids, I think, to gauge what “wealthy” means. Maybe you have what most people in your neighborhood seem to have, and you’re living what feels to you to be a comfortable but not extravagant lifestyle. Jay-Z is wealthy, right? But you don’t need to be that wealthy to be considered full-pay at most institutions of higher education. Good luck, by the way. I hope it is possible for you to attend one of your dream schools!</p>