<p>is it just tuition, room, and board? or is it all expenses (computer, transportation, spending money, etc.)? i just found out that my efc is $5500, which is great if it is all-inclusive, but it may be a little hard for my parents if they're expected to pay that much tuition plus everything else.</p>
<p>also, it says i am not eligible for a pell grant. is this really bad? how much is a pell grant anyway?</p>
<p>thanks for any info. :)</p>
<p>Many colleges factor in transportation and "personal expenses," but you're usually on your own for the computer</p>
<p>Your EFC is your Expected family contribution which means based on the income and assets of you and your parents what your are expected to contribute toward your education. </p>
<p>COA- EFC = Demonstrated Need</p>
<p>COA= Cost of attendance tuition, room bard, books, travel expenses and other misc. items.</p>
<p>for example: Your family has an EFC of 5,500</p>
<p>The Cost of attendance at William and Mary is 7090 ( in-state, based on living in a double and getting the gold meal plan)</p>
<p>7090-5500 = 1590 which is your demonstrated need.
Keep in mind that the majority of schools in the us *** do not *** meet 100% of your demonstrated need. </p>
<p>William and Mary states that they will meet 81% of your demonstrated need. </p>
<p>Since the amount of your demonstrated need is so low, they will probably meet the whole thing. At your state U this may be filled with a combination of scholarhips/grants, loans, and work study.</p>
<p>(worse case scenario, the maximum stafford loan for freshmen is 2625 which would cover your need).</p>
<p>Different schools will meet your need in a variety of ways. Some will be heavy on loans while others could be heavy on grant/scholarship aid.</p>
<p>Example # 2 Georgetown</p>
<p>the cost of attendance at G-town is $45,850 </p>
<p>45850-5500 = 40,350 demonstrated need.</p>
<p>G-town is committed to meeting 100% of the full demonstrated financial need of its' eligible undergraduates.
Since georgetown does not post its common data set it is hard to say that what proportion of grants to loans you will get.</p>
<p>Your 100% will be met with some considerable grant/scholarship aid, subsidized stafford loan (2625) work study .</p>
<p>I hope this helps</p>
<p>yes, it does. thank you very much! (it was especially nice to use two of my schools.) that was very helpful--i am glad to know that other things are factored in besides tuition.</p>
<p>E, </p>
<p>Keep in mind that William and Mary uses the Federal Methodology to Calculate your EFC while G-town uses the a combination of Federal Methodology and Institutional methodology. Depending on your family's situation your EFC may change.</p>
<p>Differences between the IM and FM models include:</p>
<p>IM collects information on estimated academic year family income, medical expenses, elementary and secondary school tuition and unusual circumstances. FM omits these questions.</p>
<p>IM considers a fuller range of family asset information, while FM ignores assets of siblings, all assets of certain families with less than $50,000 of income, and both home and family farm equity.</p>
<p>FM defines income as the adjusted gross income on federal tax returns, plus various categories of untaxed income. IM includes in total income any paper depreciation, business, rental or capital losses which artificially reduce adjusted gross income.</p>
<p>FM does not assume a minimum student contribution to education; IM expects the student, as primary beneficiary of the education, to devote some time each year to earning money to pay for education.</p>
<p>FM ignores the noncustodial parent in cases of divorce or separation; IM expects parents to help pay for education, regardless of current marital status.</p>
<p>FM and IM apply different percentages to adjust the parental contribution when multiple siblings are simultaneously enrolled in college, and IM considers only siblings enrolled in undergraduate programs.</p>
<p>The IM expected family share represents a best estimate of a familys capacity (relative to other families) to absorb, over time, the costs of education. It is not an assessment of cash on hand, a value judgment about how much a family should be able to use current income, or a measure of liquidity. The final determinations of demonstrated need and awards rest with the University and are based upon a uniform and consistent treatment of family circumstances.</p>
<p>Except in the most extraordinary circumstances, Colleges classifies incoming students as dependent upon parents for institutional aid purposes, even though some students may meet the federal definition of independence.</p>
<p>Students enrolling as dependent students are considered dependent throughout their undergraduate years when need for institutional scholarships is determined.</p>
<p>For institutional aid purposes a student may not declare independence due to attainment of legal age, internal family arrangements, marriage or family disagreements.</p>
<p>ok, i'm guessing "IM" is determined by the css profile? i know georgetown wants a LOT of extra info, i guess that's why.</p>
<p>i am also hoping that my efc will go down a bit after my mom finishes her taxes and makes corrections--we have a much different situation that last year. </p>
<p>so i think i have a pretty good financial picture so far--i guess i better get in the schools first, though! :p</p>
<p>What if your EFC is way too high for your family? My family's was almost $30,000 and I know that there's no way my parents could afford that much. Is the EFC determined by the FAFSA generally the EFC that colleges use as well?</p>
<p>Some schools gap- that is they do NOT attempt to meet 100% of need as shown by FAFSA
SOme schools offer merit- in our expereince few schools offer 100%need and offer merit to lower EFC.
Other schools offer 100% of need, which may be made up of any combination of loans, work study and grants.</p>
<p>Do schools that generally use the PROFILE committ to meeting 100 percent of need ?? Do FAFSA only schools have less incentive to meet 100 percent ?</p>