<p>If my EFC is 0, will schools still have your parents take a loan? My parents are not able to do this. I'm going to have to finance my own education. With my EFC, will any schools make my parents do this?</p>
<p>It depends on the school. </p>
<p>Some schools promise to meet full need without loans. SO those schools will not expect you or your parents to take out loans. </p>
<p>Other schools promise to meet full need but will include loans. A lot of schools do not promise meet full need. For instance schools that rely primarily on federal aid will often not be able to meet full need as federal aid will not cover the cost of even most 4 year instate public universities. So, depending on the school’s FA policies, it is very possible that your financial aid package will include Student federal loans (such as Stafford or Perkins) and possibly suggested parent loans (PLUS). No one will make your parents take PLUS loans. You have the option of attending cheaper schools.</p>
<p>Where are you applying?</p>
<p>What is your home state?</p>
<p>No one can force your parents to take out a loan, but that doesn’t mean that your costs will get covered in another way.</p>
<p>Hi I am applying to UC-Berkeley from Washington State and I am having the same problem…the cost of oos tuition is adding up to 50k+ my parents will have to take out a plus loans of about 20k…</p>
<p>^^^
If your EFC = $0 then your parents should avoid assuming $80K+ ($20K x 4) for an OOS school.</p>
<p>*0 EFC
SAT:1790 *</p>
<p>shubzy…</p>
<p>On another thread you say that you have an EFC 0. How will your parents qualify to borrow $80k for you to go OOS to Berkeley? They most likely won’t qualify. So, before your parents borrow large amounts for your frosh & soph years…you need to be sure that they will STILL qualify to borrow for your junior and senior years.</p>
<p>Many parents borrow for the first 2 years, and then they can no longer qualify so that the student can finish his degree. Then the student has to come home and go local. The problem with that is that the degree is from the local school and not the “big name.” It’s better to do it the other way around…go cheaply the first 2 years, and then borrow for years 3 & 4 so that your degree is from the “name” school.</p>
<p>Edited to add…(the 0 EFC)…Shubzy…with a 0 EFC, it’s unreasonable to expect your parents to borrow $80k to pay for your college - especially when you have the UWash option. Do you really think your parents can afford to pay $900-1000 a month in payments for your college education. Think about it…with a 0 EFC, it’s been determined that they can’t afford ANY money towards your education…so if that is so, how can they pay $12k per year in payments towards loans???</p>
<p>Seriously, before you turn down UWash, you and your parents need to find out how they could possibly qualify and afford payments on $80k in loans.</p>
<p>Schools won’t “make” you or your parents take out loans. Your parents (and you) are the only ones that can make that determination. Understand though, that gaps like that between the aid the college will provide in the form of scholarships and grants and federal grant aid are the responsibility of you or your parents. You as a student are limited to the amount you can take as loans through Stafford and Perkins. As mom2 points out you need to think about all 4 years and not just getting through the first year piecing together the finances. Meeting “need” depends on the individual school and what they use to determine need. In general schools that require ONLY the FAFSA utilize the family EFC, other colleges may have additional forms that have to be filled out and they will determine your need. It’s important to understand that distinction and to read the financial aid part of the college/uni websites or to ask questions of the college/uni if you don’t understand.</p>
<p>Another thing to keep in mind is that a parent with a very low EFC may not be able to get such large loans every year for 4 years. There was a poster a few years back who was determined, despite fervent discouragement from CC posters, to take out huge loans so her child to go to her dream and unaffordable OOS school. The 2nd year (or maybe 3rd) she was unable to borrow any more because her total loans were too high relative to her income.</p>
<p>Do not burden low income parents with huge loans that they will struggle to pay for years, so you can go to some “dream” school. Chooses options that are affordable for both you and your parents.</p>
<p>*Another thing to keep in mind is that a parent with a very low EFC may not be able to get such large loans every year for 4 years. There was a poster a few years back who was determined, despite fervent discouragement from CC posters, to take out huge loans so her child to go to her dream and unaffordable OOS school. The 2nd year (or maybe 3rd) she was unable to borrow any more because her total loans were too high relative to her income.</p>
<p>**Do not burden low income parents **with huge loans that they will struggle to pay for years, so you can go to some “dream” school. Chooses options that are affordable for both you and your parents. *</p>
<p>I don’t mean to be harsh, but Shubzy was given an “admit/deny” package. She was admitted without much help because she’s OOS and the school wants the money from her. Berkeley is not affordable for this student in any way.</p>
<p>I don’t look at the publics as admit/deny when they do this. I just see them as public schools saying they need to take care of the students from their state and don’t have funds to supplement educating kids from another state and if you want to travel from another state you have to pony up… I have a much greater distaste for public schools that pay to bring in students from other states and other countries to the exclusion of funding needy in-state students. Not that I, as a parent, wouldn’t take advantage of the situation if presented LOL. But yes in general take care of the in-state zero EFC qualified students first…</p>
<p>Mom2collegekids, I didn’t mind any of the critism and advice given and I actually consider it reallly helpful, but I honestly dont appreciate you downplaying my admission by saying I was only admitted for my money, I am not naive I know that was a factor in my admission, but I have worked hard as a first-generation college student, low-income, and without many resources. I was given a supplement which I worked on studiously for days, answering 14+ questions so that I could get into Berkeley, I understand everything you said but please do not say that because of my low SAT score and residency status that I was an unlikely candidate that was admitted ONLY for the money.</p>
<p>Thank you all for your considerate replies my family and I will have a lot to consider in the next couple of weeks…possibly painful decisions that must be made</p>