my parents make more than enough money but don't have good credit....I am getting confused because I'm asking fafsa if i need t show financial to get a LOAN not a grant.....and there saying if you get a unsubsized loan you don't need to show financial need! unless if ur a millionaire ...and then they tell me they me to determine if you get money they have to calculate your EFC ...estimated family contribution?? im getting confused if it's not based on need then how come they need the EFC...i dont get it! that doesnt make sense
2007-11-25 06:32:29 · 3 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
*and then they tell me they need to calculate the EFC ...estimated family contribution??*
2007-11-25 06:40:03 · update #1
I think they want the EFC so they can look at your eligibilty for everything all at once...Pell grants and loans. You don't have to show need for loans though that much I know for sure.
2007-11-25 06:35:39 · answer #1 · answered by Chely V 2 · 0⤊ 0⤋
DOUG, Apply for a Pell Grant (you don't have to pay the bad boy back). Good luck with your edumacation!!!
2007-11-25 06:38:07 · answer #2 · answered by "Johns" 7 · 0⤊ 0⤋
They need it anyways to make sure that the loan will be paid back some hoe ...maybe.
2007-11-25 08:14:40 · answer #3 · answered by kelliwpns 2 · 0⤊ 0⤋