<p>*Here’s the thing: our EFC with the PROFILE is $25K, which is already considerably above what we can afford. I’m trying to figure out what the maximum amount (<em>including</em> loans and work study) a “100% meet need” college will ask for. Could it be all the way up to full price, like $55K or whatever? *</p>
<p>You don’t REALLY know what your Profile EFC is. There is no set number for CSS schools. Ranges can be $20k or more!!! IM calculators do not give a firm value.</p>
<p>Let’s say that your child get accepted to a meets need school that costs 55k per year.</p>
<p>That school may say that your FAMILY contribution is $30k…which might be stated as: $28k for the parents and $2k from the child (assuming the child will work over the summer). many schools have a student contribution. </p>
<p>Ok…so your family is expected to pay $30k. That means that you have $25k in need.</p>
<p>Unless the school has a “no loan” policy, then the school may give you…</p>
<p>$5500 Stafford loans
$1000 Perkins loan
$2500 work study</p>
<h2>$16,000 in grants.</h2>
<p>$25k in need.</p>
<p>However, some schools claim to meet need and include Parent Plus loans in the FA pkgs…very deceptive.</p>
<p>EFC with the PROFILE is $25K, which is already considerably above what we can afford</p>
<p>Then how will you afford those schools? You can’t use merit scholarships to reduce your EFC unless they’re sooooooo large that they also cover that $25k in need.</p>