<p>I filled out the FAFSA on Jan6th since I always hear about the first come first serve thing.</p>
<p>I live in Texas and my dream school is a public college in Colorado so out-of-state tuition is like $27,000 and with room and board/books/food plan it'll be $35,000 a year.
So my COA be $35,000 right?
And since my EFC is 2000 thats $33000 in need.</p>
<p>I'm a pretty good student but I'm not in the top 10% so I don't think I'll be getting any big scholarships.</p>
<p>So is it basicly just garenteed that I'll have unmet need since I have so much? Or that grants and such usually make up only a few thousand dollars of need and If all my need is met it would probably be $25,000 in loans X 4years..
And I should just go to an In-state Texas school because it's a third the price and just as good academically..</p>
<p>Your thoughts on the issue are much appreciated. I hope the way I said it makes sense...</p>
<p>You can only count on having need met by schools that meet 100% of need. Unfortunately there are very few of those. And OOS public colleges are highly unlikely to meet the need of an OOS student.</p>
<p>Your best plan with a low EFC is to focus on schools that meet 100% of need or choose an in state public.</p>
<p>You're correct, that if the Colorado school's COA is 35K and your EFC is 2K that your need is $33K. If accepted, the Colorado college will put together a financial aid package to cover most of that need. That package will likely include federal pell grant, federally subsidized student loans, university grants, and work study.</p>
<p>Most schools don't meet 100% of need, though, so it's unlikely that your finaid package will be for the full 33K. GO to College Board, look up each of the schools you're applying to and look at the financial aid tab. In there you'll see a stat for "% of need met" or some such. If a school meets, for example, 90% of need on average, that's a pretty good thing, and there's a reasonable chance that they'll meet a large part of your need. On the other hand, if a school meets only 60% of need on average, that doesn't bode well.</p>
<p>Remember, though, that often state colleges save most of their in-house need-based aid for in-state students, and out-of-state students get whatever is left over in terms of institutional aid.</p>
<p>You'll need to wait on the acceptances and the finaid packages to really know what each school is offering. With an EFC of 2K, though, you can count on a federal Pell grant, and subsidized student loans, and that's a good start.</p>
<p>Thank you sblake7 and hmom5
That helps ease some of my uncertainty during my wait for my financial aid letter.
It may not be the best news, but its better than not having any idea at all.</p>
<p>"You're correct, that if the Colorado school's COA is 35K and your EFC is 2K that your need is $33K. If accepted, the Colorado college will put together a financial aid package to cover most of that need. That package will likely include federal pell grant, federally subsidized student loans, university grants, and work study."</p>
<p>This is true only for the relatively few colleges that guarantee to meet 100% of students' financial need.</p>
<p>Very few public colleges promise to do this even for in state students. The likelihood of getting ANY need-based financial aid from an out of state public is extremely low. Public colleges' first priority is to assist students in their states since those students' families' taxes are supporting the college.</p>
<p>Your best chance to afford college is to go to an in state public. Given your high financial need and the fact that colleges all over are pressed for money due to the economy, you may have to start at a local community college then transfer to a 4-year in state public after you get your associates.</p>
<p>
[quote]
The likelihood of getting ANY need-based financial aid from an out of state public is extremely low.
[/quote]
</p>
<p>You will get some need based aid. You will be eligible for certain federal aid with your EFC, though nowhere near enough to cover OOS (or even instate) tuition in most cases. With an EFC of 2000 you will qualify for the Pell grant (@ $3400 ish). Qualifying for the Pell will also make you eligible for the ACG of $750 (if you meet the academic requirements). Other than that you will qualify for work study and loans. Unless Colorado has a lot of their own grant aid (unlikely for a State U) you are likely to see a lot of loans in an aid package and probably still be gapped.</p>
<p>You would probably be much better off going instate. You will still qualify for the same grant aid and will end up with a lot less loans. If you have any opportunities at schools where you are eligible for merit aide then consider them very seriously.</p>
<p>I know of a kid who was only accepted by 2 out-of-state publics a few years back. At one, she received a Pell, a merit scholarship, loans and work-study. The gap was still $14K. At the other, she only received Pell, loans and work-study. The gap was $11K only because it was a cheaper school than the first out-of-state public. Grandpa paid $11K and she went for one year. After that, she had to come home and enroll in the community college. Oos publics are not usually good options for high-need students unless they can get enough merit. Make sure you have an instate safety. </p>
<p>By the way, a college can award work-study but not have near enough jobs for all the students who are awarded it so don't count on it.</p>