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i just found out that my efc=13222!!my family made ~33,000......i think my efc is a bit high......i probably will go for one year and transfer the heck out if i can't manage....what do you all think?

By Vayne (Vayne) on Saturday, April 10, 2004 - 06:22 am: Edit

i forgot to mention the year before my parents made ~11,000 and also my mom has to pay medical bills!!........11K to 33K yeah i know that is a big jump but my dad was unemployed and was doing independent work...now he is unhappy with his new job and i don't see him keeping it for another year...probably not even six months...he probably will be unemployed again and my family would go back to making <15,000 since my dad is the main contributer to the family income.....i'm not sure what to do...

By Thumper1 (Thumper1) on Saturday, April 10, 2004 - 09:13 am: Edit

Vayne, if you have special circumstances that are not reflected on your finaid applications, then you need to call the finaid office at your college and ask about writing a "special circumstances letter". These include unforseen things like job layoffs, unusual medical expenses, etc. I know you think your EFC is high based on your income, but $13,000 is just over a third of your gross income...and that is about right. I know it seems high, but usually that IS about the calculation. Find out about that special circumstances letter. It may help you.

By T2opine (T2opine) on Sunday, April 11, 2004 - 12:48 am: Edit

Thumper, are you sure that's right? Because my families income was 44,000 and we had an EFC of a little over 6,000.

Vayne, I would definitely consider calling the financial aid office.

By Evil_Robot (Evil_Robot) on Sunday, April 11, 2004 - 12:53 am: Edit

Thumper1: A little over a third of gross income is patently unreasonable, in a family of over 3 people. Gross income is before any bills are paid, mortgage is paid, food is bought, any expenses whatsoever.

By Anxious_Mom (Anxious_Mom) on Sunday, April 11, 2004 - 02:51 am: Edit

Yes, the EFCs are absurd. For our CA family of 3, the FAFSA ignores just $14000 per year of my income for basic living expenses. Do the FAFSA folks have any concept of actual cost of living in CA? HA

By Thumper1 (Thumper1) on Sunday, April 11, 2004 - 09:57 am: Edit

Yes, I am sure about the estimated EFC calculations being between 1/3 and 1/4 of your family's GROSS income. This information comes from reading these posts, talking to the many families we know with college aged students, and by using the FAFSA calculator. The FAFSA does NOT take living expenses into consideration. But since EVERYONE has the living expenses you outline (food, housing, etc) they are tacitly taken into consideration. Yes, the numbers seem high. My experience says that most folks feel their EFC is too high and their finaid is too low. Our EFC is 1/3 of our gross income...this exceeds the cost of our kid's total costs at college. No it's not what we wanted to hear...but we refinanced our home (to get a lower rate, not to increase the amount we owed), and tightened our belts with descretionary spending. We ARE paying the bills. It's not fun, but we are doing it. We live in the state with one of the highest costs of living in the contiguous United States. That doesn't matter, though I wish that WAS taken into consideration. Our son's school used the CSS Profile also, which takes home equity into consideration. Believe me, that didn't help our need based finaid situation at all...the expectation is that we could use home equity to help pay for college. Again...anyone with special circumstances should call the finaid office at their school. Special circumstances would be things like unforeseen medical expenses, job layoffs, significantly reduced anticipated income for 2004 (perhaps due to being self employed, or because of a windfall in 2003). The finaid offices should be able to respond to your questions.

By Vayne (Vayne) on Sunday, April 11, 2004 - 01:27 pm: Edit

thanks all

By Vayne (Vayne) on Tuesday, April 20, 2004 - 09:43 pm: Edit

i just saw my financial aid package online and was awarded only 2,625 in federal subsidized loans....yep thats it....no grants not anything else.....sooo ~30k of college is knocked down to ~27-28k....my parents making ~33,000 i can't afford that!!!my need was ~17k and i was only awarded 2,625!!!....thats not even half my need...not even 25% of my need....what am i going to do?