<p>I have a question about the financial aid package i'd get from the fafsa.</p>
<p>Since we're middle class family, my dad makes like 55k n so my EFC was 5000 wen i put i'm gonna live on campus.</p>
<p>But my dad says living on campus is a waste of $$ n that i'd save more if i live at home. Is it true? Cuz don't they give me more money for staying on campus? Would it balance out in the end? If i change my mind n put: living off campus independently or living w/ parents, would my EFC increase?</p>
<p>My dad was like: y don't u live at home but put u live off campus independently so they give u more $$...??? I was thikning this is kinda dangerous plus i wanna dorm. Does any1 have any advice on wat i should do or tell my dad. (my dad wanna save $$)</p>
<p>Absolutely place that you will live on campus!!!!</p>
<p>You will get more money that way; it's a trick in essence. As you will get more money (in terms of grants and scholarships and low-interest loans) you can choose to accept or reject loans. Absolutely place that you will on campus.</p>
<p>And living on campus, if the university is far, has its advantages. You don't have to worry about communting. It should all balance out. But if the university is 20 minutes away, don't live on campus...that would save money. More than 45 minutes, I say live on campus; you'll have greater flexibility (in terms of time) utilizing the facilities on campus. Plus, if you're active in clubs on campus, it's easier to just walk to meetings than to drive.</p>
<p>i was talking about Uc Irvine, Uc Sandiego (that i hope i'll get into)
thanks for advice btw :) I live 20 min from UCI n a lil far from UCSD so yea...</p>
<p>Your financial aid is given in correlation to what type of student you are and is prorated accordingly.</p>
<p>If the cost of attendance is 30,000 for on campus and 20,000 to live off campus, I think EFC is most likely going to remain the same because the amount of money your parents makes is not reflective in whether or not you go to school on/off campus.</p>
<p>The amount of financial aid will change at a need based school because your demonstrated need is going to change .</p>
<p>If your cost of attendance is $30,000 (tuition room board etc)</p>
<p>Your EFC is 5,000</p>
<p>Your demonstrated need will be 25,000. </p>
<p>If you live off campus where your cost of attendance (tuition, fees, transportation, books are $20,000)</p>
<p>your EFC will be $5000</p>
<p>Your demonstrated need will be 15,000 as a commuter student</p>
<p>The first component is both packages will be self help aid</p>
<p>Subsidized loans $2650
Work study $1550</p>
<p>Self help aid = 4200</p>
<p>The balance in either scenario will be met with grants, scholarships, perkins loans, PLUS loans or other unsubsidized loans.</p>
<p>At a UC the only difference will probably be in how much you have to borrow as opposed to your getting grant money. While it's just a loan on paper now, you will have to pay that money back when you graduate so yes, you'd probably save money living at home.</p>
<p>But in California, the Cal Grants are a factor. Since living on campus may increase your finanical need, choosing to live on campus, at least on paper, gives you more money.</p>
<p>For Example:</p>
<p>EFC: 10,000
Cost of Attendance: 10,000 (w/o room and board)
Cost of Attendance: 20,000 (w/ room and board)</p>
<p>Your financial need in number two increases, and Cal Grant doles out more.</p>
<p>Commuting from Irvine to San Diego will not save you money when you think about the stress and driving from Irvine to San Diego. To do that on a daily basis is not even funny.</p>