<p>Don’t worry about FAFSA right now. Your income is too high for fed grants. Your EFC is going to be about 25% of your income. </p>
<p>For OOS publics, EFCs beyond Pell aren’t going to mean much. An OOS public may cost $40k per year, but you may not get any aid other than a small loan. </p>
<p>Do you know how much you can pay each year towards college? IF not, try to determine that. That will likely influence your decisions.</p>
<p>you are looking at schools and scholarships like the one you have referenced for Alabama, you do want to apply early, but you won’t be able to get your financial aid forms done until much later. You won’t get much if anything from Alabama and a number of the the state schools as an OOSer anyways.</p>
<p>Right. The merit scholarship and loans would really all you’d get with your EFC. </p>
<p>Look at it this way…</p>
<p>If COA = $35000
and EFC = $20000</p>
<p>Then your “need” is only $15,000. If you got $15k merit scholarship, then all of your “need” would be met. But, your child could still take out a $5500 student loan.</p>