<p>My families EFC turned out to be 03151... Both parents are currently unemployed, my mom is seeking disability and my dad is seeking a full time job. Vast majority of money reported was from my parents cashing their 401k.</p>
<p>These are the colleges I'm considering plus the scholarships I've already received...</p>
<ul>
<li>Central Michigan University - COA $21,646 - No word of scholarships</li>
<li>Florida Southern College - COA $38,400 - $10,500/year scholarship ($27,900)</li>
<li>Oakland University - COA $16,624 - $2,000/year scholarship ($14,624)</li>
<li>UM Dearborn - COA $20,445 - No word of scholarships</li>
</ul>
<p>What type of financial aid am I possibly looking at? If you don't want to do them all, the one I am especially interested in is Florida Southern.</p>
<p>Thank you!!</p>
<p>Use the Net Price Calculator on each schools’ website. People here don’t know what you’d have to pay.</p>
<p>What state are you a resident of? Unless you are with in commuting distance from any of these schools and you will be living at home, you must tack on room/board/transportation costs.</p>
<p>IF your EFC is $3151 the max pell you will receive is $2400 (1200 per semester)</p>
<p><a href=“http://www.ifap.ed.gov/dpcletters/attachments/P1201Attach20122013PaymentSchedules.pdf[/url]”>http://www.ifap.ed.gov/dpcletters/attachments/P1201Attach20122013PaymentSchedules.pdf</a></p>
<p>the max direct (stafford loan) you will receive is $5500
If your state offers state aid, you will have to check to see how much state aid you are eligible to receive.</p>
<p>If you are a Florida resident, the university of michigan at dearborn is $23,996 not including room and board (expect to add another 10-12k to this amount. Unless you are going to get some major merit $4 (highly unlikely), this school will be financially out of reach for your family. Central Michigan would most likely also be financially out of reach.</p>
<p>If you are a Michigan resident, then the florida schools as an out of state resident are going to be financially out of reach.</p>
<p>What you get means nothing. It’s what you have to pay that is the crux of the issue. If you get a $40K Scholarship for a school with a COA of $65K, that means you have to come up with $25K out of pocket. If you get a $15K scholarship award to a school that will cost you $20K total (my state school for in state), that means you only have to come up with $5K, which students can cover with a Stafford loan. </p>
<p>So your numbers are all meaningless, since what is of interest is how much is left for you to cover on each school after the grant is taken into acount.</p>