<p>I recently filled out the FAFSA and got a EFC of 7041. I have about 3 months left in the military which payed me fairly well. The thing that kills me is that FAFSA sees that I am independent yet I made $40k last year by myself. So basically for this year, I'm showing an income although I lose all salary very soon.
In 3 months I will be independent, making no money, and having having no real help from my parents. Is there a way for this to be taken into account or am I just out of luck this year?</p>
<p>Welcome to CC.</p>
<p>Once you get your financial aid package contact the financial aid office , explain your situation and request a financial review. However, this year I am afraid that you are going to have to live with the EFC (there are a lot of people who would gladly take your $7041 efc as they are paying full freight for their child's education)</p>
<p>Since you are also leaving the military are there educational benefits associated with this.</p>
<p>You may have some success by asking the financial aid office to complete what is called an "Estimated Year" review.</p>
<p>FAOs have the option, by using professional judgement, to look at the 2005 income instead of the 2004 income on a case-by-case basis, especially if there is a loss of income, or some other dramatic change in a student's/family's circumstance. This is only done on an appeal basis, and different colleges will have different standards as to what qualifies for extenuating circumstances.</p>
<p>Still it is worth a try.</p>
<p>Be aware that if a college authorizes this, they may ask later (between Fall and Spring semesters) for your 2005 tax return to confirm your estimates and if the numbers are different than your original estimate they may feel free to take money back from you.</p>
<p>So the key here is estimate well, and follow through if things change.</p>
<p>Both Barkowitz and Sybbie are right. It depends upon the school, how they will handle your situation. Do be aware that the $7k EFC does not mean that a school is just going to cover all but the $7k either. Most colleges cannot give aid up to 100% of the difference between costs and EFC, so you may have this issue as well depending upon the schools you are considering. Many of the schools that use PROFILE and other financial aid supplemental forms, and have a good endowment do review these situations, and so it definitely pays to contact each school and see where you stand. I also suggest looking at a guide like USN&WR Ultimate guide and find out what percent of need your schools typically fund, Good luck.</p>
<p>Yeah, I plan on contacting the financial aid office for a review as soon as I get my package. As you guys have said, they may understand that I'm going from a $40,000 yearly income to almost nothing overnight. </p>
<p>And yes, for some people a EFC of $7k sounds good , but its horrible for me who funds their own education.</p>
<p>And as for the military educational benefits, I do have the GI Bill which pays nearly $1100 a month but that barely covers room and board in my case.</p>
<p>Thanks for you help!</p>
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<blockquote> <p>$1100 a month but that barely covers room and board in my case.>></p> </blockquote>
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<p>Why is that? DS goes to college in one of the more expensive cities. His room and board costs are $10,000 per year.</p>
<p>Yeah, I'll be going to San Jose State- rent alone is $1000 a month plus food and utilities. So the GI Bill money ends there.</p>
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And yes, for some people a EFC of $7k sounds good , but its horrible for me who funds their own education.
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<p>A seven-thousand dollar loan is not going to kill you, though I would try to get the financial situation reviewed if it's unfair.</p>
<p>birdofprey an EFC of $250 could be really tough for some people. And altho u probably have more experience with this topic than I do, in my opinion, it is very rude to tell someone how a certain EFC will affect them. I highly doubt that you and kev are in the same situation, so try to refrain from judging.</p>