<p>Which of these schools give out the best NEED-BASED financial aid packages? Thanks </p>
<p>UIUC (in state)
Ohio State
Purdue
Minnesota- Twin Cities
UIC (in state)
Wisconsin- Madison
uToledo</p>
<p>OOS publics don’t usually give great need-based FA packages to out of state students. They pretty much have to reserve their need-based aid to instate students.</p>
<p>What is your EFC?</p>
<p>I think 30,000 but it might be more</p>
<p>Both the UIs are hard to guesstimate right now, given the state’s budget situations. If your EFC’s really $30,000, it’s irrelevant, because that’s about what the in-state COA is (a little more for engineering, a little less for LAS).</p>
<p>Is EFC the estimated cost of contribution for one year or four years?</p>
<p>EFC is the number for each year.</p>
<p>If your family’s EFC is $30,000, then your family will be expected to contribute at least $30,000 each year towards the cost of your college education.</p>
<p>So my EFC is like 10,000</p>
<p>You “think?”</p>
<p>Have you run a FAFSA calculator to get a quality estimate?</p>
<p>[EFC</a> Calculator](<a href=“http://www.aie.org/managing-your-money/finance-tools/efc_calculator/]EFC”>http://www.aie.org/managing-your-money/finance-tools/efc_calculator/)</p>
<p>You need to more firmly determine your EFC.</p>
<p>However, if it’s above about $5k, then it’s too high for Federal “free aid” like Pell Grants.</p>
<p>Unfortunately, EFCs of $10k are in that gray area of aid. Often “too high” for a state school to give any/much “need based” aid. And, VERY unlikely to get need-based aid at OOS publics in amounts that you would need to cover high OOS costs.</p>
<p>Use the calculators to determine likely EFC. Don’t use “after tax” income. </p>
<p>**
And, ask your parents how much they’ll pay each year. THAT answer will largely determine where you should apply. SERIOUSLY!!!**</p>
<p>What are your stats? If they are high enough, then you should target schools that will give you LARGE merit awards so that you won’t be left with BIG gaps.</p>
<p>From your other thread…</p>
<p>**Asian male (Indian)
*ACT- 28
GPA Unweighted- 3.7</p>
<p>Right now, your test score isn’t high enough for good sized merit or to get “preferential packaging.”</p>
<p>I was thinking about applying to Michigan but I don’t think my parents will shell out $50,000 a year</p>
<p>This statement is interesting. You’re not saying: “there’s no way that my parents COULD pay that much.” Does that mean that your parents “could” pay? Do they have a good income and/or have good savings/investments?</p>
<p>It looks like the only FA you would get is the option to take Stafford Loans ($5.5K as a freshman).</p>
<p>My parents can probably only pay $10,000 a year tops. </p>
<p>I meant if the could afford to pay Michigan’s tuition, sorry.</p>
<p>Also, how are my merit aid chances with a 30 ACT?</p>
<p>*My parents can probably only pay $10,000 a year tops. *</p>
<p>What your parents “can pay” has nothing to do with EFC. To get a rough estimate of EFC, estimate about 23% of their “before tax” income. And, if they have savings/investments, then the EFC will be higher.</p>
<p>So, if their income is about 100k with little assets/savings, your EFC is going to be about $23k. If they also have - say - 200k in investments/savings - then your EFC could be about $28k.</p>
<p>*I meant if the could afford to pay Michigan’s tuition, sorry.</p>
<p>Also, how are my merit aid chances with a 30 ACT? *</p>
<p>??? At UMich? Your chances for any decent merit are slim. An ACT 30 at UMich is not high. The top 25% have at LEAST an ACT 32. To get good merit, you’d have to be like in the top 10%.</p>
<p>Even at Purdue you wouldn’t get much merit with an ACT 30. Maybe none. You’re at the 25% mark at Purdue. You might get $6k in merit, but even that’s doubtful with an ACT 30.</p>
<p>To get enough merit so that your family only has to pay $10k per year…with an ACT 30, you have to go down in school ranking.</p>
<p>What is your intended major?</p>
<p>Be sure to have some financial safeties on your list. Those are schools that you know FOR SURE that you have all costs covered with **ASSURED **merit scholarships, small fed student loans and/or family funds.</p>
<p>I’m not applying to uMich… But UIC is my financial safety and I probably won’t apply to Purdue either. I’m thinking about Pre Med</p>
<p>And I’m totally clueless on EFC and stuff so I’ll use that FAFSA calculator as a rough estimate.</p>