I’m new here, at least at posting, I have learned so much just searching the board the last two years when by oldest started college. Now I have a question that I cannot seem to find and need some clarification.
My oldest goes to a state college that meets need. Next year will be her Junior year. My Middle child will start college next year and wants to start at Community College. My question is
With two in college will the EFC be divided between the two even if one is going to community college? Does school matter in that respect since CC is cheaper?
Also,
If our EFC (assuming it is divided between the two) is almost the cost of the CC will my CC student still receive any Federal Aid loans?
Your CC student can get the $5500 Direct Loan…no problem…if you complete the FAFSA.
Sounds like child 1 is at a school that uses the CSS Profile. That being the case, the EFC is actually 60% of what it would be for one student…not 50%. But some schools do take the cost of the younger sibs college into consideration. You will have to ask school one this question.
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That being the case, the EFC is actually 60% of what it would be for one student…not 50%. But some schools do take the cost of the younger sibs college into consideration.
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this is very true. the split is 60/60 for CSS schools, and that’s based on how the CSS school defines 100%. Some full pay folks see no aid at all when a 2nd child starts school.
And, as Thumper noted, some CSS schools will look at what the cost is for the other child’s school.
Yes, she is at a CSS school. Her school takes the COA - EFC, She Takes out the Federal loans and they give her grant money to cover the rest. We have been able to pay the EFC in monthly payments so far, however our EFC will go up this year. I am self Employed so my income fluctuates every year, this year I did well, next year??
So for estimation purposes IF my EFC is 20,000 I would pay 12,000 to each school, even though CC is not that much?
or CSS may say, CC isn’t that much so we want you to pay more and I will not know how much until Awards come out?
If the school isn’t known to have a huge endowment or be especially generous, I would prepare for the second scenario. If the CSS school believes that the cost for the CC will only be - say - $5000, then the school may think that you can pay a lot at the CSS school.
CSS schools that “meet need” get to decide what that need is.
In looking at the CC website they list the estimated COA at 10,000 per year, It includes tuition based on full time student, books, fees, Miscellaneous, transportation cost and 2400 for room and board while living with parents (surprised that last one was on there). I wonder if the CSS schools consider all these things for CC for the COA? Or just the $5000 that it will be for tuition, fees and books?
It is nice to know she would get the 5500 Direct loan, if the EFC is to high for monthly payments, then we can pay those back for her when oldest graduates.