<p>I recently did the Collegeboard EFC calculator and had around 35k, which honestly is not going to happen at all. My parents cannot afford that. </p>
<p>I noticed that on the EFC calculator, it did not factor in one's location into the final product. I live on Long Island, NY which has a much higher cost of living compared to other places. Will this affect the amount of actual financial aid I receive? Thanks!</p>
<p>Nope. We live in the greater NYC area too. A lot of unfairness in these formulas. Something that is in your favor, however, is that NY has relatively inexpensive tuition in their state school unlike some kids who are in states with high cost state schools. We also have a lot of choices in state schools.</p>
<p>Wow… that really sucks. Annual incomes on Long Island/NYC area are significantly higher that other places in the country solely due to higher costs of living. Not taking this into account is putting us at a huge disadvantage 
haha…</p>
<p>They figure that the higher incomes make up for the higher COL. They have a point. We are here because H can more job opportunities at a higher pay than in the mid west.</p>
<p>The other thing to keep in mind is that your EFC is the minimum you’ll be expected to pay. Colleges are not obliged to cap your costs at your EFC. The FAFSA formula is really just a means of determining what, if any, federal aid a student might be eligible for.</p>
<p>*EFC calculator and had around 35k, which honestly is not going to happen at all. My parents cannot afford that. *</p>
<p>Well, it’s a good think you’ve learned this now and not next spring when many seniors get this bad news.</p>
<p>So…now you need a strategy so that you can apply to affordable schools - those that your parents can pay for iall costs or those that will give you a generous merit scholarship and your family can pay the rest . </p>
<p>How much will your parents pay each year? If you don’t know ask.</p>
<p>What are your stats? GPA weighted and unweighted. ACT and/or SAT (including breakdown)</p>
<p>The higher incomes do make up for the higher COL but families from places of higher COL should not be comparable to families with similar incomes from places of lower cost of living. Families that are making the same amount but are paying less to live can definitely help pay for college more.</p>
<p>And my parents said that I can probably get 10k from them per year and they would give me more if they could.</p>
<p>My stats: average is 95 UW and 100 W. ACT is 29 at the moment but I’m hoping to get up in the 32/33 range with a summer of studying under my belt (34M/29E/26R/28S). SAT is nothing special… 1920 superscored… probably won’ send it in.</p>
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</p>
<p>That’s sometimes true, but as you’ve been told that isn’t really taken into account.</p>
<p>$10k is a pretty good starting line. If your parents can give up that much each year, and you take out federal loans, you should be able to consider most state schools financial safeties at the very least. Depending on how much merit-based aid you get will probably determine whether or not you can live on campus or have to commute from somewhere else.</p>
<p>OK…Now you know how much you can get from your parents…$10k.</p>
<p>At this point, EFC is rather irrelevant, so all strategies need to assume that…</p>
<p>1) You’ll have $10k from parents, $5500 from student loans, and maybe $2k from work-study or a part-time job. </p>
<p>2) Many/most privates will be unlikely unless you can get your test scores up to a point where one would offer a free tuition scholarship (not many do). </p>
<p>3) With your current ACT score, some schools would give you some merit money. If you could increase your score, there would be more opportunities for better merit scholarships.</p>
<p>4) Don’t bother with schools that would only give you a smallish merit scholarship. At a school that costs $30k-50k per year, getting a $10k per year merit scholarship isn’t going to cover enough of your costs. </p>
<p>5) With your financial situation, finding some schools that will give you merit scholarships that would cover all of tuition should be a goal. That would leave you with your parents money, a student loan, and a part-time job earnings to cover your room, board, books, etc. </p>
<p>6) Some schools give ASSURED merit scholarships for stats (if you have the req’d stats and you apply on time then you get the listed scholarship.). However, some schools have competitive scholarships (a few students are awarded scholarships out of a pool of top applicants). It’s ok to apply to some schools that have competitive scholarships, but to protect yourself, you should also apply to a couple of schools that will give you assured scholarships for stats. </p>
<p>5) Definitely apply to a couple of state schools that you wouldn’t mind attending.</p>
<p>6) Look over this thread of ASSURED SCHOLARSHIPS…$$$ CC Important links to Merit Scholarships given for stats… </p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html</a></p>
<p>I also live on Long Island, so I feel your pain.</p>
<p>If your parents can only afford $10 grand, you really need to look closely at the SUNY system. Geneseo and Binghamton, for example, have a very high caliber of educational quality.</p>
<p>All of the SUNYs except for Geneseo and BInghamton have merit awards. You might want to check out where you stand with those. </p>
<p>SUNY Buffalo runs about $20K a year, boarding there, but off campus housing can be gotten much cheaper after freshman year. They also have an automatic $2500 merit award at certain SAT levels. That with the loans, job and parental contribution of about $10K just might swing it. Other places to look are the local schools where you can commute and also investigate Momfromtexas’s full ride scholarships thread.</p>
<p>NotClose, </p>
<p>Just so you know, we visited SUNY Buffalo last spring and really liked the school. The kids seemed happy, lots of diversity, Buffalo is a sizeable city and the education is solid. Are you taking APs? If you go to a state school, you may be able to cut off one semester or even one year with AP classes and maybe a couple of community college classes the summer before you go away.</p>
<p>Here are the OP stats from a Northeastern U thread.</p>
<p>*SATS
Math - 720 CR - 600 Writing 660
Total - 1980
Math/CR - 1320
I’m still undecided about taking them again in the fall. I feel like they are sufficient, however I told myself I was going to break 2000 and I was very disappointed that I fell just short.</p>
<p>GPA
Not sure what my GPA is at the moment… My school hasnt done it for me yet… and I dont have my grades from freshman or sophmore year to get an estimate… However my average for all three years on naviance is an 87.50. But I don’t know what that will make my GPA.*</p>
<p>I think he needs to test again for the best scholarship consideration. However, I’m not sure if his GPA (about a 3.3 GPA) will prevent him from scholarship consideration. Don’t know if that is his weighted GPA.</p>
<p>Either way, schools like Northeastern are unlikely if he doesn’t get a huge scholarship because the expected family contribution will be too high.</p>
<p>I believe 1300 is the cut off for the automatic $2500 merit award at UBuffalo. Other SUNYs may also have such awards. Other schools will pop out with substantial awards if you look at MomfromTexas’ thread on full ride scholarships. They are not well known schools, but the price is right. Iona College in NY is also a possibility. Fordham would take you, but the merit award is likely to leave a gap far more than $10K, but give it a try.</p>
<p>Fordham seems to be the most generous to NMFs, and even with that you still have more than $10k in costs.</p>
<p>The OPs stats aren’t high enough for big merit from Fordham. At most he’d be given is about $10k $15k per year…at a school that costs more than $50k to attend.</p>
<p>To end up with a cost of between $10k-15k (assuming a student loan), this student needs to consider instate publics or lower ranked schools that would give huge merit for his stats.</p>
<p>Those aren’t my stats… I replied to that guys chance thread.</p>
<p>My stats are 95 UW and 100W.</p>
<p>I will not be submitting my SAT but my ACT atm is 29 but I am retaking in October and shooting for a 32/33.</p>
<p>Thanks for all the replies. They really help!</p>
<p>Also, which EFC is the one that counts? I think it is federal and institutional? One was 35k and one was around 22k.</p>
<p>Actually neither really counts for much if the school doesn’t meet need.</p>
<p>If it’s a CSS school (some better privates), then the institutional one will be used. However, if it’s a school that doesn’t meet need without Parent loans, then irrelevant.</p>
<p>If it’s a FAFSA only school (many publics and privates), then only the federal one is used. FAFSA only schools usually do not meet need.</p>
<p>Which was your FAFSA EFC? </p>
<p>You asked the following on another thread, hopefully someone here can give an answer. I’m thinking my answer is right, but others might say something different.</p>
<p>Also, for the best chances at good-sized scholarships, I think a student needs to be in the top 5-10% at a school that gives scholarships. </p>
<p>Also, what would be considered a top 25% applicant. ACT range on Collegeboard is 27-31. Since 31 is the 75 percentile, would that mean a 31+ on the ACT would be considered top 25%?</p>
<p>The top 25% would be an ACT 32+ in this case.</p>
<p>up to ACT 26 is bottom 25%
ACT 26 - 31 is middle 50% (26% - 75%)
ACT 32+ is the top 25% (76% on up)</p>
<p>I’m guessing that the students are divided by number of students…so if there’s 1000 freshmen…then… 250 are in the bottom 25%, 500 are in the mid 50s with scores of 26-31), and 500 are scoring 32+. Others can correct me if I’m wrong. </p>
<p>Sorry I copied the wrong post. :(</p>
<p>Meant to copy this…</p>
<p>*School:
Class Size: 327
Rank: 26 (Top 10%)
Curriculum: All honors and AP classes/Hard
Grades: 94.14 unweighted, 99.29 weighted (I did well this year so unweighted should go up to a 95 and weighted should be around a 100)</p>
<p>APs (Only allowed to start taking APs junior year):
US History (4), Calculus BC (Will take), Chemistry (Will take), Physics B (Will take)</p>
<p>Tests:
SAT: 1290/1920 (Probably won’t send or take again… just working on my ACT)
Math: 710 / Reading: 580 / Writing: 630
ACT: 29 (Math: 34/ English: 29/ Reading: 26/ Science: 28)
I know I can improve my ACT score and bring it to the 32 range in September.*</p>
<p>Since your parents can’t pay their expected family contribution, which schools are gong to be your financial safety schools? Right now, schools like Northeastern probably aren’t going to work out financially for you.</p>
<p>Your parents have said that they will pay $10k each year. That is your reality. You need to come up with a list of schools that will work with those parameters. </p>
<p>You won’t be able to make up the difference in unmet family contribution with a student loan because a student loan will be part of your “need”. So, if you have $15k in “need,” you’ll get a student loan and some work study in your FA package.</p>
<p>If you do get an ACT 32, there are some schools that would give you generous merit, but your stats would probably have to be in the top 5-10% of the school.</p>
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<p>I haven’t read this whole thread so forgive me if I’m repeating info. The FAFSA EFC (federal) is used primarily to determine eligibility for federally funded need based aid. With an EFC of either of these numbers, the only federal funding you will get will be a Stafford loan.</p>
<p>The institutional methodology is where you would look if you are hoping to get money from the college itself in the form of need based grant money. The rub is that MANY schools do not meet full need. They schools calculate your family contribution but do not then guarantee to meet the need which is the difference between your cost of attendance and family contribution. The family contribution calculated by the different colleges for awarding THEIR institutional money can vary by thousands of dollars depending on the %age of need met and the formula the schools use…which vary.</p>
<p>Your SAT and GPA numbers are relevant for merit aid, not for need based aid which is based on the income and assets of your family.</p>
<p>Financial safeties for me would be the SUNY schools which I could afford with no problem. How much money would be too much for a student to take out in loans? I also have been working for the past couple summers so I should be coming into college with 20k that I earned. My parents said that they would help me out as much as they could and 10k is probably a minimum.</p>
<p>Thanks for the help!</p>