<p>Soo my EFC is about 80,000. will i be receiving any financial aid at all??</p>
<p>If your EFC is $80,000 I would venture that you will not qualify for any need based aid. You could apply to schools where there are merit aid awards that are not tied to need, and maybe you would get one of those awards.</p>
<p>well would they take the fact that my mom is a single parent and unemployed currently into consideration?</p>
<p>very worried..............</p>
<p>How do you get an EFC of 80K when your mother is unemployed? She must be fortunate enough to have built some serious wealth before this. I mean your family must have significant assets.</p>
<p>Um yeah...</p>
<p>But will colleges look at other numbers besides the EFC like how much my mom is willing to pay and our family status??</p>
<p>Simply put ... no.</p>
<p>Your mother is expected to help you with your educational costs to the extent that she is determined to be able (using the FAFSA and/or Profile formulas). The fact that she doesn't want to help or doesn't want to help as much as she is supposed to be able to help is irrelevant. None of us wants to part with our money!</p>
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<blockquote> <p>EFC like how much my mom is willing to pay and our family status??>></p> </blockquote>
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<p>The colleges and federal government will NOT consider how much your mom is "willing" to pay. That doesn't matter at all.</p>
<p>Re: any family status...well...if you had 20 dependent children, that might make a difference:) What other family status would they be looking at?</p>
<p>Re: your mom's unemployment...if she has significant assets, what is the problem? $80,000 is about twice the cost of most private schools (except the very most expensive...only 1 1/2 times the cost). It's about four times the cost of an instate public university. It's AT LEAST ten times the cost of a year at most community colleges.</p>
<p>The financial aid calculations are based on your mom's income (which must have been a lot) for 2008, plus assets. There is the assumption that college costs will be paid out of past earnings (savings), current earnings (income) and future earnings (loans).</p>
<p>I'm sorry...but an EFC that high either means huge assets, a huge income (and I mean HUGE) or a combination of the two which would still need to be mighty huge.</p>
<p>Why do you think you qualify for need based aid?</p>
<p>yeah i figured i wouldn't qualify but i wanted to try anyway. sighh then i def. wont be going to any of my top choice college =</p>
<p>solo...you need to talk to your mom. You need to find out just how much she IS willing to contribute to your college education. You need to find out if she has some kind of college savings for you. You need to make sure your college list is a balanced one in light of that money conversation.</p>
<p>sologirl....are you sure that you are reading the EFC correctly. Without giving out specifics of your situation, an example for an EFC is....</p>
<p>Household income of $110,000 per year......4 people in the family....2 in college.
EFC amount $12,000 per year.</p>
<p>If you have done the calculation correctly, it would mean that your Mom would have liquid assests of well over $500,000. If that is correct, the colleges would expect your Mom to be able to assist and therefore you would not be eligible for financial aid. Did you do an estimate on finaid.com?</p>
<p>you might have put in an extra zero by accident.</p>
<p>Solo...is this the EFC from your FAFSA? Make sure that the numbers you put were accurate.</p>
<p>I noticed from some other threads that you were applying to places like Tufts. Some of these schools will also require the completion of the Profile...check each school. The Profile takes a MUCH closer look at assets than the FAFSA.</p>
<p>Think Wall Street and corporate layoffs, there are lots of unemployed people with assets right now. And I'm hearing from many who don't want to spend savings for a few kids at $50K colleges. So it's not surprising to see these questions turning up here.</p>
<p>Is there a way i can check my fafsa again? i'm pretty sure that i typed all the numbers in correctly...</p>
<p>Household income of $110,000 per year......4 people in the family....2 in college.
EFC amount $12,000 per year.</p>
<p>Or a real life example from our house a few years ago.
4 people in family- one dependent in college,income $51,000- EFC$14,700</p>
<p>FAFSA only colleges will primarily look at current income.</p>
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[quote]
Is there a way i can check my fafsa again?>>
[/quote]
</p>
<p>Yes...go back to the FAFSA website. You will need to enter your PIN and you can check the numbers. If you need to amend it, you can.</p>
<p>probably what is making the number so high is the net worth of my mom's investments because we own two properties</p>
<p><<we own="" two="" properties="">></we></p>
<p>value of the primary home is not included. Secondly, make sure you put the equity she has in second home, not how much she paid for it or how much it is worth. Equity = what it's worth - what she still owes on it</p>
<p>well i'm pretty sure we fully own our second property...</p>
<p>i just wish that colleges would factor in what my mom is willing to pay into their decision process because now i'm kind of left hopeless =</p>