<p>Actually, some schools do use private loans to meet need … my D’s package from one school that meets need included some Massachusetts loan. It’s possible that particular loan was state-guaranteed (I have no clue), but it was not a federal loan. None of the other schools that met need included that type of loan, though.</p>
<p>Unfortunately, there is no way to know what your package will be. If you have a very straight forward situation - not self employed, not a lot of assets, no trusts, that sort of thing - you can figure that Profile EFC is pretty close to what schools might compute it to be (remembering each has its own way to compute Profile EFC). Our situation was pretty simple, and Profile EFC was actually lower than FAFSA EFC. 8 schools gave 8 different packages. Several met need, with some meeting it better than others (in our opinion). Some schools had more loan & work study than others, so that is why I always suggest comparing only direct costs & considering only “free” aid.</p>
<p>D went to a school that meets need without loans. They met our need with scholarships, grants, and a small work study award at first. By her senior year, she was awarded a huge scholarship that had a component of need … she didn’t even have to complete a separate application for it. We hit the jackpot. D’s search centered on a wide variety of schools that met need or where she would be eligible for large scholarships.</p>