Hello, I’m in the process of filling out my first FAFSA and wanted to hear from other people who have had similar experiences. Basically, in 2017 my dad made the highest income he has ever made, which was about 77,000 plus my mom’s 12,000. So altogether we made about 90,000 that year. I’m really scared I’m going to get next to nothing in financial aid, because even though I’m classified as a dependent my parents are making me pay for everything on my own. So if anyone could give me a very rough estimate of an EFC they received for a family of 5 making 90,000 a year, that would be great. I’m trying to see where I stand, hopefully the amount of aid I receive isn’t as frighteningly low as I’m expecting it to be.
https://studentaid.ed.gov/sa/fafsa/estimate
However, colleges may choose to calculate an EFC for their own financial aid purposes that is different from the EFC calculated for federal aid that the FAFSA4caster estimates.
For each college, go to its web site and try the net price calculator.
Agree, use the net price calculator…but…is your dad self employed?
And understand…the EFC per FAFSA has really NOTHING to do with the amount of aid a college might give you. With that income, you won’t be eligible for federally funded grant money.
What state are you from? There are some states with state grant money where your income might net you state grant money…CA and NY for example.
I’m from Missouri, which is why I’m kind of panicking because I was basically told to expect nothing in financial aid based off my parents’ income of 90k vs my own savings of 5k. My dad is not self-employed, but the factory he works for is closing so he will be out of a job by the time I go to college, so I wonder if financial aid is accommodating for situations like that?
You have to fill out the FAFSA as things stand now (he has a job). When/if the factory closes, you can appeal the FA. It makes it tough because you don’t know what the aid will be but you can talk to a few schools. The Pell grant would be up to $6k (probably $6200 for next year), you can take the $5500 loan. Run the NPC for the schools without your father’s income and it may give you a good guess at what you can expect.
The instate tuition is more of a sure thing than hoping to get financial aid from a private or OOS school.
I would expect the EFC to be at least $10,000 with that income, maybe even $15,000 depending on assets.
Collegeboard has an EFC calculator but I think it’s still based on the 2018/19 EFC formula (federal methodology).
You can also PM @joecoletta for a spreadsheet that uses 2019/20 FAFSA EFC formula.
https://ifap.ed.gov/efcformulaguide/attachments/1920EFCFormulaGuide.pdf
Or you can calculate FAFSA EFC by hand with the above PDF.
Collegeboard EFC calculator has been updated for 2019/20 year
The AY 2019-2020 FAFSA Spreadsheet for Estimating Dependent Students’ EFC and Pell Grant Awards should be released this evening.
I did not think I would have any problem honoring my self-imposed deadline of 9 p.m. this evening.
If it begins to look like I may have to push back the release time until “before I go to bed,” I will send a broadcast PM to everyone who has requested a copy of the Spreadsheet, including you, and provide an update.
All the best,
Joe
cc: @mommdc
OP, make sure the colleges you’re applying to do offer good aid. Eg, no matter your FAFSA EFC, some simply don’t have money to give. That’s why we recommend the NPC Net Price Calculator found on a college’s web site. It’s college specific.
I don’t need a copy - I’m FAFSA free as my last graduates in Dec.
I was just telling the OP that the FAFSA doesn’t allow explanations or for you to change to more current figures. If the father was employed in 2o17 (for 2016), that’s the income OP has to use. If there is a change in circumstances, the student can then file for professional judgment (showing the father lost his job). Most schools are very helpful with the change in circumstances, but it is better to have a lower price point you are trying to meet from the outset. Missouri has quite a few different types of schools to pick from (Rolla, Truman, U Missouri in several cities).
I’m actually accepted to k-state’s architecture program, so I received a full out-of-state tuition waiver for the first four years and grad school. Their net price calculator told me my EFC covered about 35%, though. I still have a 12,000 a year gap that was my EFC. I do have the savings to pay room and board though, which will be half my annual expenses, along with another estimated 3.5k in merit aid. I’m just curious as to whether anyone has mentioned a special circumstance to a specific school’s financial aid office (in my case, dad loses his job in May when I graduate and will have proof of unemployment to show for it), and had any luck with receiving more aid, mostly.
Yes, my kids were given some additional aid (mostly adjustments to Pell), but you cannot apply for that until after the event happens (so after May), and many schools won’t make the adjustment until long after you have to make the decision whether to attend, or whether you can afford to attend.
If you have already maxed out the financial aid they can offer, there may not be any additional funds available. If you already have a Pell grant, or SEOG, or school funds, there might not be any more available. Every situation is different.
Just got the EFC today and it was 12k…not good because my dad said they could contribute maybe 1/6 of that, absolute max…
just want to say that my daughter too looked at KSU’s architecture program as an Out Of State student. We could not afford to send her there; we met with their financial aid dept; basically were offered the in-state tuition rate, and they really couldnt help us much more. So, she’s not there; she’s at our state U. Going out of state is often more expensive than in-state at your public U. To afford college, she has an EFC of 16K; she is taking out loans, using her summer work savings, working a small job in college, and we are paying for room and board. We are getting absolutely no free money or grants.
There really aren’t a ton of universities and financial aid-generous Liberal Arts Colleges that offer bachelors in architecture. Unless you have one in your city, plan on spending alot more than your EFC as you’ll need to live away from home, and pay tuition and room and board.
if you really want to study architecture, and your local university doesn’t offer architecture design degrees, you can get a degree in really any discipline, and then get your masters in architecture. Like art? you can get an art degree and then apply for a masters in architecture somewhere. Or horticulture, or environmental studies or architectural engineering or european history. Maybe get an associates in CAD design or such first. We know a few people who studied education and then went to graduate school for architecture. You’ll have to take several make-up classes before you start the master’s program, but it’s always an option to get an undergrad degree at an affordable college and then move on. good luck to you.
Did you run the net price calculator for Kent State? With merit it will probably be $18,000 still.
I am probably not the most knowledgeable person on the forum to help you with this, but I have submitted 3 requests for consideration of special circumstances with terrific success. I would be delighted to embark on a dialogue with you but will not be able to kick things off until Sunday. Please let me know how you would like to proceed.
Joe
I would like to better understand your concern/advice, but might not be able to kick things off with you until Sunday or Monday. Are you agreeable to discuss this further with me?
Thanks!
Joe
Yeah, it was about 20k. I did talk to my dad after I ran the numbers and I think he’s starting to see college really isn’t possible unless he’s going to help me, even a little bit. We talked about some additional private loans for the first year and I’m going to start looking into being an RA right from the get-go, we will also talk to financial aid about his unemployment. Just frustrating because the previous tax return showed our income as about 55k, which may have scored me a Pell Grant. I think next year when the income decreases my aid should be at least a little better.
@joecoletta yes I would appreciate that!