<p>I just found out that my EFC is 07421. Is that the dollar value of my expected contribution? If not, how does the number above tell me how much I am expected to pay? I'm sure this is a rediculous question, but it is unclear. Is 07421 relatively good? Bad? I'm going to a $40,000/year school next year. I'm dying to know. Thanks.</p>
<p>did I read correctly elsewhere that you had been accepted at Annapolis? The info below is quoted off the FAQ from the Annapolis website. I think this answers your question.</p>
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<blockquote> <p>How much is tuition to the Naval Academy? </p> </blockquote>
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<p>The Navy pays for the tuition, room and board, and medical and dental care of Naval Academy midshipmen. You also enjoy regular active-duty benefits including access to military commissaries and exchanges, commercial transportation and lodging discounts and the ability to fly space-available in military aircraft around the world. Midshipmen pay is $764.00 monthly, from which laundry, barber, cobbler, activities fees, yearbook and other service charges are deducted. Actual cash pay is less than $100 per month your first year, increasing each year to $400 per month in your fourth year. Midshipmen may voluntarily sign up for the Midshipmen Investment Fund (MIF), which will allow you to invest a portion of your monthly pay into your choice of participating mutual funds.>></p>
<p>No. Actually, I'm going to St. John's College in Annapolis. Thanks for the information, though!</p>
<p>Oh...well in that case, you need to check the finaid policies of St. John's College. If that college does not meet full need, there is really no way for anyone here to even guess what your financial aid award will look like. Also, keep in mind that colleges can also include work study and loans as part of your package, in addition to "free money" (scholarships and grants).</p>
<p>ure expected to pay $7,421 based on income/assets</p>
<p>That's what I wanted to know. Thanks!</p>
<p>Not quite.
That number means that you are eligible for federally subsidized aid to offset all costs beyond the $7,421 (such as subsidized loans, work-study, and parent PLUS loan). The number has nothing whatsoever to do with what the college might give you. From what I could find, St. Johns meets full need of only 37% of Freshmen, with the average percent of need met being 90%; average grant $16,510; average self-help (loan/work-study): $5710.</p>
<p>Thanks Calmom! I really appreciate the information.</p>
<p>collegeboard reports that St. John's meets 96% of demonstrated need. But they use the profile -- so if that is your FAFSA EFC, it isn't an accurate number for St. John's. Here is the FA info on college board:</p>
<p>I'm pretty sure they use FAFSA and PROFILE to determine need.</p>
<p>Derek -- FAFSA is used to determine if students are qualified for federal aid (pell grants, etc). Profile is used to determine institutional grants/loans. with your EFC, you are not going to qualify for any federal grants -- so any grants in your FA package will be institutional and therefore determined by the profile EFC.</p>
<p>That makes sense. How much does the profile EFC deviate from the FAFSA EFC? Thanks!</p>
<p>There is no way for us to tell you how your Profile would deviate from your FAFSA EFC. That is completely dependent on the types of assets your family holds, etc. That also is something you should NOT post here!! File the forms and see what the college gives you for finaid. That is the only way to REALLY know what you will be receiving and how much you will be paying.</p>