Well my efc is 6700 but none of the college tuitions I put on my fafsa between $2000 and $3500. So what else will we have to pay for!?! And when do we have to pay it?
2007-01-24 14:31:39 · 2 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
Go back and check your FAFSA for errors in data entry....just in case you added a number somewhere that messes with the calculations.
Otherwise, colleges usually prefer tuition to be paid up front. If you can't pay it up front, they will usually work with you on a three or four payment plan. If you have unpaid money at the end of the term, though, you may not be able to register for the next term's classes until your money is paid off.
If your EIC is truly 6700, and you will be attending a Community College, you may not qualify for any federal aid, other than loans. I have never had my EFC be that high, so I don't know. :-)
2007-01-24 15:03:00 · answer #1 · answered by Brandon W 5 · 0⤊ 0⤋
There are two numbers which you need to consider. Your EFC (estimated family contribution) and the "budget number" of the college or university you attend. If the budget number, which is an estimate of all of your expenses (not just tuition) exceeds you EFC (the amount your family is expected to contribute to your education, you may be eligible for need based financial aid. If not, you will probably still be eligible for (non-subsidized) loans.
Merit scholarships (for academics, special talents, etc.) may also be available to students without demonstrated financial need.
The financial aid office at the college you plan to attend can give you the institutional budget number (and let you know if the college offers a tuition payment plan).
2007-01-24 15:52:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋