<p>I never thought about money to be honest I was being pretty ignorant . I want to apply to financial aid for college. I'm a senior, household income 250,000+ maybe 300,000 , only child . I know I won't get much but I can't afford 40,000+ in costs. My dream school is uconn. I probably won't get merit scholarships if I'm lucky enough to Get in my gpa is at their average 3.45, and my sat is higher 1330 (as of now). So do I apply for financial aid after I get in (if I get in), or do I apply before I send my application out? Any help would be great I just don't understand this part of the process </p>
<p>If you plan to attend uconn in the Fall of 2015, you should file your FAFSA after 1/1/2015
How much your parent could afford to pay?</p>
<p>The highest they will pay is like 38,000 maybe less . And @4kidsdad so when I run the net price calculator for uconn and they estimate financial aid is that fafsa?</p>
<p>^The school will use your SAR (after you file FAFSA) to award you the financial aid. If you input your information to NPC & FAFSA correctly, the actual and estimated financial aid should be close. See <a href=“Financial Aid Checklist | Office of Student Financial Aid Services”>http://financialaid.uconn.edu/checklist/</a></p>
<p>@4kidsdad I did that and I got like $11,000 dollars which seems very very high . Is that realistic? And thank you so much for the help!</p>
<p>It is way too high for pure financial aid. The EFC estimator will give you an estimated FAFSA EFC and you won’t get any federal aid until you pay that nut. What is that $11k that you got comprised of? Some NPCs include merit money, and that would make sense. Usually you have to input test scores and grades to get that. You do mean $11K in aid, don’t you, not in what your family and you would have to pay? </p>
<p>@cptofthehouse yes I know it’s what will be deducted, but I didn’t put test scores in. I did it again because I thought maybe 11k was too much but it was actually 13k. I don’t know why it’s saying I would get so much.</p>
<p>I did it again! It’s actually 7,000 I put that no for some question about children and financial support but I read the question totally wrong </p>
<p>Here is where you go to file the FAFSA: <a href=“https://fafsa.ed.gov/”>https://fafsa.ed.gov/</a></p>
<p>What you’re getting from the NPC is just an estimate and is not binding.</p>
<p>You can start filling the FAFSA out 1/1/2015, with estimated 2014 tax information from your parents. The sooner they file their taxes and get that information into the FAFSA the better.</p>
<p>Can you copy/paste your results…something isn’t right unless that $7k is a merit scholarship.</p>
<p>Merit scholarships (at most schools) will be purely awarded by stats, not need. So, maybe that is a merit award.</p>
<p>Are you saying that you answered the question about children and support as a “yes”? If so, that is wrong. You should put “no”.</p>
<p>Anyway, copy/paste your results.</p>
<p>And yes, the NPC is also figuring out aid from FAFSA (it’s not perfect, but it’s a rough estimate).</p>
<p>Your parents’ income is WAY TOO HIGH for need based aid at ANY school…even HYPS.</p>
<p>Is 1330 your Math + CR score? Or is that your score for all three sections? What is your home state?</p>
<p>ok…you’re a NY resident</p>
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<p>And you have a good SAT. </p>
<p>Is that your weighted GPA or unweighted?</p>
<p>Again, I don’t think your NPC results are right. Please copy/paste the results. </p>
<p>Financial aid Yes
Age 17
Living arrangement On-campus (in a residence hall, dormitory, or on-campus apartment)
Residency Eligible for out-of-state tuition
Marital Status No
Children No
Number in Family Three
Number in College One child
Household Income Above $99,999</p>
<p>3.45 is my unweighted those are my results </p>
<p>Estimated tuition and fees $29,194
- Estimated room and board charges
(Includes rooming accommodations and meals)
$11,820 - Estimated cost of books and supplies $850
- Estimated other expenses
(Personal expenses, transportation, etc.) $2,700</p>
<p>Estimated total cost of attendance: $44,564
- Estimated total grant aid:
(Includes need based grant and scholarship aid from Federal, State, or Local Governments, or the Institution)
$13,272</p>
<p>Estimated Net Price After Grants and Scholarships:</p>
<p>@mom2collegekids </p>
<p>I think this is the best info on FAFSA and expected family contribution, there is a chart. Know the chart is income only, not taxable financial assets. There is a 35k exclusion, so the first 35K of parental assets are shielded. All other financial assets above that in parents name are calculated at 5.6% (additional to the FEC on the chart), and contributions to IRA’s and 401K’s the prior year get added back into AGI. Stuff in student’s name is at 20%. </p>
<p><a href=“2014 Guide To FAFSA, CSS Profile, College Aid And Expected Family Contribution”>http://www.forbes.com/sites/troyonink/2014/01/31/2014-guide-to-fafsa-css-profile-college-aid-and-expected-family-contribution/</a></p>
<p>The parent asset allowance varies by whether there are one or two parents and by the age of the older parent. Single parents are treated very unfairly in the opinion of most here. The allowance is much less than 1/2 the two parent allowance.</p>
<p>The actual fafsa formula and all the tables for allowances and the criteria for independence, simplified means and auto 0 are here:</p>
<p><a href=“http://ifap.ed.gov/efcformulaguide/attachments/091913EFCFormulaGuide1415.pdf”>http://ifap.ed.gov/efcformulaguide/attachments/091913EFCFormulaGuide1415.pdf</a></p>
<p>Were you asked what your scores were?</p>
<p>and is the only income option offered “above $99,999”?</p>
<p>@PrayforUF </p>
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<p>Estimated total grant aid: (Includes need based grant and scholarship aid from Federal, State, or Local Governments, or the Institution): $13,272</p>
<p>I did it again! It’s actually 7,000 I put that no for some question about children and financial support but I read the question totally wrong</p>
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<p>did you copy/paste the wrong results? You said that you did it again and then got $7k. </p>