<p>So my EFC is 0 and my stats are too low to go to schools that would meet my full need without loans. There are a few schools (such as Syracuse) that meet 100% of need but almost 1/3 of that is through loans. </p>
<p>I have a grandparent willing to pay a few thousand. If they were to contribute that, would that cut down on my student loans or would that negatively affect my grants and/or scholarships?</p>
<p>It’s hard to say. It will affect your EFC for next year so you’ll get less financial aid from Syracuse. It’s hard to say if that will mean they’ll give you less in the form of loans or grants.</p>
<p>Just had another thought. If you want to keep your EFC at 0 your grandparents should pay nothing until your senior year. Then they can contribute the money they were planning on to pay down your loans.</p>
<p>Well I mean… they’re not giving me the money. They’re paying it directly to the college. Wouldn’t our EFC still be 0 since our income and assets are still the same?</p>
<p>I didn’t even think about that. That would be a great idea, to just take the money they were going to give me to pay off the loans.</p>
<p>Do you have to fill out the CSS Profile for Syracuse or is it only the FAFSA?</p>
<p>Syracuse was just an example of a school that meets 100% of need but does a lot of that through loans. There are others that I’m applying to that are similar, some are just FAFSA some are CSS.</p>
<p>Why?</p>
<p>OK. The CSS Profile specifically asks if you received any money from outside sources or if you expect to receive any money from outside sources. The answer to that question will be yes in your case so in my opinion the money from your grandparents, (and bless their hearts for helping you with college), might affect what your EFC looks like.</p>
<p>I would be afraid to list that a grandparent might give me money in the future…things change. Also, the grandparent might (sadly) die and the money might never be forthcoming.</p>
<p>I’m not sure where you got that Syracuse meets full need. The books I’ve seen says it doesn’t. Maybe they don’t count those loans since you can get them for any school? Also, if they are offering you a third of costs in loans, be aware that you would probably need someone to co-sign those loans for you.</p>
<p>Well collegeboard.com says 95% but Cuse’s website says 100%. Again, Cuse was just an example.</p>
<p>I also would be worried about putting down my grandparents would be giving me money in the future.</p>
<p>Don’t listen to me, I’m certainly not an expert. You might want to look at the question and see how you interpret it. I know the CSS Profile asks it, I don’t remember the exact wording.</p>
<p>Paying more than your EFC changes your EFC for the next year? Are you sure?</p>
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<p>No, it’s the money from his or her grandparents that could change his or her EFC. It sounds like that money wasn’t accounted for in the CSS Profile for this year and it will be next year. The CSS Profile specifically asks about money received from outside sources and money expected from outside sources. My best recollection and interpretation of the question is that the OP will have to say he received money from his grandparents and he or she has the expectation that will happen again. But he or she should read the question, maybe the fact that the money is being paid directly to the school changes how the question “Did you receive money from outside sources” needs to be answered.</p>
<p>Maybe the money from his grandparents isn’t enough to make his EFC greater than 0 because maybe in this case there is some latitude and having more money will not cause the EFC be greater than 0. I don’t know the answer to this. I do know that the CSS Profile specifically asks, “Did you receive money from outside sources last year?” and “Do you expect to receive money from outside sources this year?” Those questions will need to be answered by the OP when he or she fills out the CSS Profile next year. The might change what his or her EFC is.</p>
<p>I don’t even understand what it means to pay more that your EFC. Every year you have to pay the whole tuition. If you are receiving financial aid then some of that payment comes from your financial aid package. If you had extra money wouldn’t you just pay down your loans?</p>