How do I meet my EFC?

Paying for College
1

<p>Hello, new CC member here. </p>

<p>I've been accepted to both Northwestern and UNC-Chapel Hill (oos). Northwestern is my first choice, but they estimated my EFC to be $39k, which is much higher than the $30k EFC from UNC. Both universities met my need, but my family is still going to have problems coming up with $39k every year. My parents said they could afford ~$23k a year, meaning that the other $16k would have to come from loans, home equity, etc. I really want to go to Northwestern, but is that much debt reasonable just for my undergrad education? What if I want to go to med school? Does anyone have any suggestions for meeting the EFC without crippling debt?
Oh, also Northwestern's aid package included a $3500 sub Staffard loan. UNC's didn't have any loans, just grants and work study.</p>

2

<p>Most parents on this forum feel going into debt up to the max Stafford levels (~$27K) is as far as you should go. Sounds like UNC’s package is much better and has no debt so you could take out a Stafford loan and work during the summer to meet your need. That seems like the way to go.</p>

3

<p>I agree with Erin’s Dad. UNC is a very fine school. You are fortunate that your parents can come up with a nice portion of what you need to go there. It doesn’t get much better than NW in terms of getting need met in the private school world, so unless you can come up with the additional money, UNC looks like the better deal for you.</p>

4

<p>Since affordability is important as well as less debt for med school, go to UNC.</p>

<p>However, you can show NU your aid from UNC and see if they’ll match it.</p>