I know my EFC what is the likely amount I will receive?

Paying for College
1

<p>I have an EFC of 1,946. I have received a 13 K a year merit scholarship to Loyola New Orleans. It is nearly 50 K a year, I am just wondering what to expect when it comes to need-based aid based on my EFC. </p>

2

<p>Run the Net Price Calculator on the college’s website for an estimate. The EFC just tells you what you look like for Federal Aid. The college will calculate the family and student contribution with their own formulas. In addition, they may or may not meet your full need.</p>

3

<p>The school doesn’t meet need, so use the NPC on the website to get an idea. If you want, copy/paste your results here.</p>

<p><a href=“http://mfa.dev.loyno.edu/financialaid/net-price-calculator”>http://mfa.dev.loyno.edu/financialaid/net-price-calculator&lt;/a&gt;&lt;/p&gt;

<p>it looks like Loyola also used CSS Profile to determine aid, so you’ll have to fill that out as well to get aid.</p>

4

<p>If your FAFSA EFC is $2000, you will get about a $3600 Pell Grant, and a $5500 Direct Loan. Those would be guaranteed. </p>

5

<p>As Mom2coll has suggested, running the NPC on Loyola’s website will give you some idea on what kind of package they will give you. THat is an estimate only.</p>

<p>The EFC is usually the bare bones minimum a person would have to pay before getting certain federal money, and I don’t know any schools that define need as the EFC and guarantee to meet it. </p>

6

<p>Some private schools that meet 100% need, will use the FAFSA EFC, but it will likely be on a case by case basis and they will likely require PROFILE as well.</p>