I filled out the FAFSA and my EFC is $15,000, which is ridiculous because my Dad was laid off and has been on unemployment for 5 months, and Mom works as a manager at Target. School costs $9,500. Does that mean I am not eligible for any financial aid?
2006-07-25 09:32:10 · 7 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
Does anyone know of any good scholarships? My GPA is really good, and I'm transferring as a junior with a major in Genetics and Cell Biology. I'm working as an intern, and I'll only net about $4,000. ANY advice would be really appreciated.
2006-07-25 09:34:41 · update #1
I should also mention that my parents have told me there isn't any money for me. No college fund for Chris. Anything I can get other than loans?
2006-07-25 09:35:39 · update #2
Take the info about being laid off to your financial aid office at the school. My sister was just starting the process to apply to college when our dad got laid off, and the financial aid office helped come up with some extra funds.
2006-07-25 09:36:21 · answer #1 · answered by Richard H 7 · 2⤊ 0⤋
The Expected Family Contribution (EFC) is the way a family's ability to pay for college is calculated. The formula for determining eligibility for federal aid programs is the same across all colleges. When you apply for financial aid, expect to answer questions about your family's income and savings. Most of this information is readily available from your tax returns, paycheck stubs, and bank and other financial account statements. Remember that this formula does not consider the actual price of attending a given college or university--your EFC is the same regardless of whether you attend a public college with a tuition of $5,000 or a private college that charges $22,000.
Expected family contribution (EFC) Family income level Typical EFC range
Below $20,000 = $0 & $800
$20,000-40,000 = $900 & $3,400
$40,000-60,000 = $4,100 & $7,650
$60,000-80,000 = $8,950 & $12,850
$80,000-100,000 = $12,000 & $16,850
Above $100,000 = $17,800 & $33,800
2006-07-25 09:37:20 · answer #2 · answered by Kia_1998 1 · 0⤊ 0⤋
Fill out scholarships at all the local businesses and search yahoo for online scholarships. Generally you fill out a form with all your information and write usually a page to 6 page essay on some topic (ex. you favorite hobby, why family is important, how is protecting the environment important....) and they select winners for usually $500-3000. The secret is, most people dont go around filling these out, so if you are any good, its not too hard to win a few. I personally know somebody who paid for 2 full years of college like this. Hope this helps you.
2006-07-25 09:38:15 · answer #3 · answered by B tizzy 3 · 0⤊ 0⤋
EFC is how much they think your family should have saved for college--it's always high, but you should be able to get some partial aid scholorships. Check out Target's scholorships, as well as earning the Meap scholarship. Also, many schools have scholarships for members of student government. Check out your college of choice for their scolarships as well. Good luck!
2006-07-25 09:39:07 · answer #4 · answered by Crys H. 4 · 0⤊ 0⤋
Thats what they expect your family to pay. Those applications are so confusing. I made lots of mistakes and my son fixed them and we had to pay a lot less. I put my income in too many places where I shouldn't have. You should go back over the application for your parents you may find some mistakes yourself.
2006-07-25 09:36:51 · answer #5 · answered by nastaany1 7 · 0⤊ 0⤋
It means exactly what it states! However you should wait for your award letter to be sure. You may have to take out student loans.
2006-07-25 09:36:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I know, the EFC is a joke.
2006-07-25 09:56:02 · answer #7 · answered by nolyad69 6 · 0⤊ 0⤋