My EFC is a five-digit figure...?

Question

yeah, it's 29126.

i'm a high school senior who lives in a suburban town. My dad makes pretty good money (but we're by no means rich), and my mom is unemployed. the college i want to go to costs about $28,000 with room and board.

so...is there any hope of financial aid for me? =(

Answer 1

Even if your EFC was $99,999, you'd still be eligible for an Unsubsidized Stafford Loan (the Freshman year Stafford limit for 07-08 is $3,500). However, you aren't eligible for any need-based financial aid because you have no "unmet financial need" -- that is, your EFC exceeds your educational costs. You will need to seek out financial aid that is non-need-based. Look for scholarships based on academic achievement, essay contests, etc. Start locally by asking your high school's guidance office for scholarship listings.

EDIT: The answerer directly below me is incorrect on 2 counts. First, students with EFCs above $3850 are ineligible for *Pell* grants but can still receive other grants such as SEOG and state aid. An EFC as high as yours, however, would likely make you ineligible for most types of need-based grants. Second, Unsubsidized Stafford Loans are non-need-based and are available to dependent AND independent students. As long as your current financial aid package doesn't exceed your educational costs, you can receive an Unsubsidized Stafford Loan. When the Unsub program was created in 1992, the whole point of the program was to ensure that no-need students still had loan options! Source: http://ifap.ed.gov/sfahandbooks/attachments/0607Vol3Ch6.pdf

Answer 2

Even if you got the full amount for a Pell Grant (which you wont) and combined that with federal loans... it wouldn't be enough. You will have to get some scholarships or consider picking a different school. Is the reason it costs so much because you would be considered out of state? If so... sometimes, depending on the state and university, there are ways around that.

Answer 3

if your efc is above 3800 youre are'nt going to get a grant, you may be able to apply for a lan but you have to contact the school. and if you are dependent student,, which you would be classified as one if: you are unmarried, have no children, not an orphan, or not a veteran, you may not qualify for a unsubsisdised student loan, but your parents may be able to take out a plus loan.

Answer 4

Apply for every scholarship yo ucan find, ask the college for a list of theirs, and look for ones you qualify for, and apply. Do it now, since ther are usually deadlines.

Answer 5

Have your parents get divorced and move in with your mother for a year.

or

Get married.

or

Have a child.

or become a ward of the court. (get emancipated)

Otherwise no.