About the ads

EFC - What kind of numbers do people get?

Discussion in 'Financial Aid' started by Jamier2, Feb 28, 2002.

  1. SDN is a nonprofit organization. Services are made possible through the generous support of SDN members and sponsors. Thank you.
  1. Jamier2

    Jamier2 SDN Hillbilly Moderator Moderator Emeritus

    Joined:
    Mar 22, 2001
    Messages:
    2,247
    Location:
    Kentucky
    SDN 10+ Year Member

    SDN Members don't see this ad. (About Ads)
    I just filed my FAFSA, and my Estimated Family Contribution is $5600. Is this a low or high EFC? Just wondering, because this is the first year I've included my parents' info on the FAFSA.
  2. KyGrlDr2B

    KyGrlDr2B

    Joined:
    Oct 15, 2001
    Messages:
    2,045
    Location:
    KY
    SDN 7+ Year Member
    It doesn't matter if you include your parents' info because you are considered independent. It only depends on you and your spouse. I think that might be a good number for a married couple, but I don't know much about how this all works.
  3. Jamier2

    Jamier2 SDN Hillbilly Moderator Moderator Emeritus

    Joined:
    Mar 22, 2001
    Messages:
    2,247
    Location:
    Kentucky
    SDN 10+ Year Member
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by KyGrlDr2B:
    <strong>It doesn't matter if you include your parents' info because you are considered independent.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Yeah, I knew that but it slipped my mind. I am really just wondering what kind of numbers others are getting. (Read: Hoping for some need-based support) :)
  4. Astrid

    Astrid Member

    Joined:
    Jan 24, 2002
    Messages:
    47
    SDN 7+ Year Member
    my EFC was 3200, but I earned very little last year. Does that mean we cant get this money thru federal loans?
  5. Jamier2

    Jamier2 SDN Hillbilly Moderator Moderator Emeritus

    Joined:
    Mar 22, 2001
    Messages:
    2,247
    Location:
    Kentucky
    SDN 10+ Year Member
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by Astrid:
    <strong>my EFC was 3200, but I earned very little last year. Does that mean we cant get this money thru federal loans?</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">I'd like to know too. Anyone know?
  6. My EFC was over 12,000 <img border="0" alt="[Wowie]" title="" src="graemlins/wowie.gif" /> So yours are not too bad. Mine is high because my wife and I both worked our butts off last year. This year my wife is going back to school for her masters in education. So we should earn considerably less and my EFC should be REALLY low next year <img border="0" alt="[Clappy]" title="" src="graemlins/clappy.gif" />
  7. matthew0126

    matthew0126 Anaheim Angels

    Joined:
    Feb 2, 2002
    Messages:
    1,152
    Location:
    S. California
    SDN 7+ Year Member
    wow... hehe. good thing i didn't work last year for the first time in years (research instead). EFC ZERO! :D

    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by Ryan:
    <strong>My EFC was over 12,000 <img border="0" alt="[Wowie]" title="" src="graemlins/wowie.gif" /> So yours are not too bad. Mine is high because my wife and I both worked our butts off last year. This year my wife is going back to school for her masters in education. So we should earn considerably less and my EFC should be REALLY low next year <img border="0" alt="[Clappy]" title="" src="graemlins/clappy.gif" /> </strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">
  8. EpiII

    EpiII Senior Member

    Joined:
    Oct 26, 2001
    Messages:
    279
    Location:
    California
    SDN 7+ Year Member
    My EFC is $25,600 (I think that might include some parental info which will go away for most schools except where indicated below). My wife and I both have good paying professional jobs (requiring Masters degrees) and we have had them for 4 years. We save quite a bit of money as well since we never quite know what we are going to do next - volunteer overseas, quit and go to med school, etc., etc. :)

    Your parental information does matter regardless of age for some federal (HRSA) primary care scholarship/loans. Otherwise, our parental info is generally not needed.

    The financial aid office determines what each of us needs to have for the next school year for tuition, rent, etc. They then subtract the EFC from that total amount needed. The remaining amount of money is what they try to find scholarships and loans to cover. Does that make sense?

    Total $$ needed for the year = (EFC) + (loans & grants).
  9. UCMonkey

    UCMonkey Senior Member

    Joined:
    Aug 26, 2001
    Messages:
    511
    Location:
    Cincinnati, OH
    SDN 7+ Year Member
    I got $4093 for mine. Not knowing what good numbers are, I suppose its about right based on what folks are saying here.

    I'm personally not particularly worried about it, since I'm going HPSP. I'm just waiting on paperwork for that to go through.
  10. Jamier2

    Jamier2 SDN Hillbilly Moderator Moderator Emeritus

    Joined:
    Mar 22, 2001
    Messages:
    2,247
    Location:
    Kentucky
    SDN 10+ Year Member
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by Epi:
    <strong>Does that make sense?

    Total $$ needed for the year = (EFC) + (loans & grants).</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">To me it makes good, good sense. Good sense. (AC/DC line) :)
  11. quaileggs

    quaileggs Senior Member

    Joined:
    Sep 4, 2001
    Messages:
    327
    Location:
    Columbus, OH
    SDN 7+ Year Member
    My EFC is 0 :)
  12. Sugar72

    Sugar72 Senior Member

    Joined:
    Jul 22, 2001
    Messages:
    554
    Location:
    Tucson
    Status:
    Resident [Any Field]
    SDN 10+ Year Member
    I'm married and 30 so i didn't include my parents financial information. I expected to have an efc greater than zero...but zero it was. I guess it is because my husband made so little last year, we have very little savings outside of retirement plans, and they take into account that I will not be working while in school.
  13. Jessica

    Jessica Senior Member

    Joined:
    Sep 7, 2001
    Messages:
    587
    Location:
    Baltimore
    SDN 7+ Year Member
    Mine was 4200... I hope that working my butt off this year so I didn't have to take loans for my undergrad isn't going to put me out of the running for need-based stuff!! Has anyone with a similar EFC heard back on their status (do schools still consider you as being in SERIOUS financial need?)
  14. mpp

    mpp SDN Moderator Moderator Emeritus

    Joined:
    Jan 17, 2001
    Messages:
    3,398
    Location:
    Portland, OR
    Status:
    Resident [Any Field]
    SDN 10+ Year Member
    33,000...I've been saving too much money I suppose
  15. quantumhead

    quantumhead Verrucas Vulgaris

    Joined:
    Feb 13, 2002
    Messages:
    176
    Location:
    Richmong, VA
    SDN 7+ Year Member
    Big fat wonderful 0 !! I think that you can lower your EFC by having alot of kids like me. So everyone reproduce alot so your EFC will be lower!
  16. mikeaparker

    mikeaparker Senior Member

    Joined:
    Sep 3, 1999
    Messages:
    284
    Location:
    VA
    Status:
    Pre-Pharmacy
    SDN 10+ Year Member
    My EFC was about 9800 but I am a single independent student who worked full time last year...

    Won't they take this into consideration, since I wont be working during school?????

    Should I call them???? I have no dependents and a negative net worth, but my efc was still like 9800???

    Any help would be appreciated thx

    Mike
  17. SHIBBY

    SHIBBY Member

    Joined:
    Jan 14, 2002
    Messages:
    63
    Location:
    Atlanta, GA
    SDN 7+ Year Member
    Same here...my EFC was 3200, but it's like...dude, my income will be 0 next year...plus all the deposits you have to make before you get to NSU, AND the deposits on living arrangements...are they CRAZY? Any info you guys have will be great! Do the individual schools evaluate these EFC's or what exactly do they do with them?
  18. eagle26

    eagle26 Senior Member

    Joined:
    Nov 19, 2001
    Messages:
    619
    Location:
    Phoenix AZ --> Richmond VA--> San Antonio TX
    Status:
    Resident [Any Field]
    SDN 7+ Year Member
    I was also high; about 9300. I worked full time out of school. I contacted on of my schools, and they told me it won't have any bearing on loans, but it would on scholarships. She just told me to bring in a resignation letter when I leave and they will adjust my efc.

    Joe
  19. sundevil1

    sundevil1 Senior Member

    Joined:
    Jul 23, 2001
    Messages:
    213
    SDN 7+ Year Member
    If your financial information will change significantly next year (working full time this year but not next year), I suggest contacting the financial aid offices of the schools you are seriously considering. Some schools have something called a resource re-evaluation where you have to predict what your income will be for the next calendar and school year. They will then use these figures to adjust your EFC and calculate your need with the adjustments made. I'm sure all schools must have something similar to this.
  20. Epi

    Epi Fuzzy Tiger

    Joined:
    Jul 28, 2001
    Messages:
    292
    Location:
    Calvin's house
    Status:
    Medical Student
    SDN 7+ Year Member
    mine was only 200. i guess i got lucky. i worked last year, but made less than 6000.
  21. daisygirl

    daisygirl woof

    Joined:
    Nov 28, 2001
    Messages:
    1,529
    Location:
    perpetually cranky
    SDN 10+ Year Member
    I just got my reply from fafsa and my efc is 61,529!!!! I am not rich!!! I have not worked in the past two years-only my husband does, and he did make a lot of money last year (b/c he worked a ridiculous amount of overtime). Will I be able to get unsubsidized stafford loans?? I am starting to get really nervous.
  22. sandflea

    sandflea Senior Member

    Joined:
    Jun 23, 2001
    Messages:
    791
    SDN 7+ Year Member
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by daisygirl:
    <strong>I just got my reply from fafsa and my efc is 61,529!!!!</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">holy freakin cow!! wanna help pay for my education too? <img border="0" alt="[Laughy]" title="" src="graemlins/laughy.gif" />
  23. Scooby Doo

    Scooby Doo IEatShavedPussyCats

    Joined:
    Jul 9, 2001
    Messages:
    3,797
    Location:
    City
    SDN 10+ Year Member
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by daisygirl:
    <strong>I just got my reply from fafsa and my efc is 61,529!!!! I am not rich!!! I have not worked in the past two years-only my husband does, and he did make a lot of money last year (b/c he worked a ridiculous amount of overtime). Will I be able to get unsubsidized stafford loans?? I am starting to get really nervous.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Sure sounds like you are rich girl!!

    I don't know what to tell you. You will probably not get any loans the FIRST time through but find the school that you are going to and pummel them with letters saying that you need money. BUT, if your EFC is THAT HIGH, then that means your hubby must have raked in over 200K last year or you have at least 200K in the bank. That's enough to pay for all medical school without loans. Not to sound mean, but they will be giving the money to the people who "really" need it. People with EFCs of 10K and more likely 5K and less.
  24. eagle26

    eagle26 Senior Member

    Joined:
    Nov 19, 2001
    Messages:
    619
    Location:
    Phoenix AZ --> Richmond VA--> San Antonio TX
    Status:
    Resident [Any Field]
    SDN 7+ Year Member
    I was told EFC has NOTHING to do with loans...mainly scholarships and grants. I guess it might depend on the school.

    Joe
  25. Dr. Kermit

    Dr. Kermit Senior Member

    Joined:
    Aug 10, 2001
    Messages:
    652
    Location:
    Bronx, NY
    SDN 7+ Year Member
    Is anyone currently working since graduating in 2001 and including their parent's income? If so, do you mind posting your EFC? I'm not sure if my parent's income will greatly affect my EFC. I made around 15K for 2001 and my parents earn between 150-200K. (I'm not quite sure of the number since we don't discuss finances in my family.) Thanks!
  26. lmm

    lmm Member

    Joined:
    Dec 12, 2001
    Messages:
    52
    SDN 7+ Year Member
    I worked this past year, earned $29,000. I had to include my parent's income which was ~$ 120,000 combined and I had an EFC of $9000. I think that the EFC only takes my income into account, but I will not be able to contribute ANYTHING, so it is a little frustrating.
  27. Procrastinator

    Procrastinator Senior Member

    Joined:
    Dec 27, 2001
    Messages:
    108
    Location:
    Cali
    SDN 7+ Year Member
    Thats wierd lmm, my parents make about the same, I am a full time student this year and my EFC is $26,000. It's not like my family has a lot of assets, so I think this may be a mistake.
  28. Dr. Kermit

    Dr. Kermit Senior Member

    Joined:
    Aug 10, 2001
    Messages:
    652
    Location:
    Bronx, NY
    SDN 7+ Year Member
    Procrastinator, do you have any money saved in an account? I think I saved ~7K of the 15K I earned last year, I'll let you know what my EFC is when I hopefully complete my FAFSA this weekend.
  29. daisygirl

    daisygirl woof

    Joined:
    Nov 28, 2001
    Messages:
    1,529
    Location:
    perpetually cranky
    SDN 10+ Year Member
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by Scooby Doo:
    <strong> </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by daisygirl:
    <strong>I just got my reply from fafsa and my efc is 61,529!!!! I am not rich!!! I have not worked in the past two years-only my husband does, and he did make a lot of money last year (b/c he worked a ridiculous amount of overtime). Will I be able to get unsubsidized stafford loans?? I am starting to get really nervous.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Sure sounds like you are rich girl!!

    I don't know what to tell you. You will probably not get any loans the FIRST time through but find the school that you are going to and pummel them with letters saying that you need money. BUT, if your EFC is THAT HIGH, then that means your hubby must have raked in over 200K last year or you have at least 200K in the bank. That's enough to pay for all medical school without loans. Not to sound mean, but they will be giving the money to the people who "really" need it. People with EFCs of 10K and more likely 5K and less.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">My hubby did not make over 200k last year. He made ~114k (it is a lot, but it was an UNUSUAL year of lots of overtime--this year he won't even come close to that). He has some money in retirement funds and I think this is what brought me over the top (and there is not a great deal of moula in those funds). We don't have any liquid assets; all of the money we made went into the home that we bought (lots of work was/is needed). So, although you may not think that I am "needy", I feel I am b/c I don't have a whole lota' cash hanging around.
  30. Doctora Foxy

    Doctora Foxy Meow

    Joined:
    Jan 28, 2002
    Messages:
    5,368
    Status:
    Medical Student
    SDN 7+ Year Member
    Woo-hooo! My EFC is ZERO! :D :D

    $$$$$ ven aca! :cool:
  31. futuredentist

    futuredentist Member

    Joined:
    Feb 20, 2002
    Messages:
    31
    SDN 7+ Year Member
    Hi to all,
    My EFC came to about 20,000$. My husband makes about 50k per year and we are expecting a baby coming June. My tuition fee plus all the other expenses related to school( books, instruments, etc ) together comes about the same amount as my EFC. Does this mean that I am not eligible for any loan at all?. I dont understand. I am in a state of panic. My husband and I are planning to pay atleast half of my tuition fee ( 7000$) but, we will need the loan to pay the rest of the fees and expenses. I dont know what to do. Should we contact the FAFSA people or should we contact the school's financial aid administrator?. Please help.
  32. daisygirl

    daisygirl woof

    Joined:
    Nov 28, 2001
    Messages:
    1,529
    Location:
    perpetually cranky
    SDN 10+ Year Member
    Hi Futuredentist,
    I would not bother calling FAFSA, the only thing that they will tell you is: Would you like us to send you a booklet on how your EFC is calculated? (I have been there and done that). Call your school and ask them. I am in a similar predicament (but no baby on the way). I don't know where I am going yet (one acceptance...hopefully I will get in somewhere else..), so I have not gotten on top of this. Would you mind pm'ing me or posting what your school says? I am interested..your info may help me :)
  33. futuredentist

    futuredentist Member

    Joined:
    Feb 20, 2002
    Messages:
    31
    SDN 7+ Year Member
    Thanks daisy girl and sacrament for your replies.
    To daisy girl,
    I applied to only one school (my state school) and hence I have no choice but to go there. Actually, only today I got the official acceptance letter asking me to pay the deposit. After they get my deposit, I am going to talk to the financial aid office. After I talk to them, I will definitely post here, their reply. I applied for FAFSA only last week and I am not sure my school's finanacial aid office even got my details from the FAFSA yet. I will give them one week and call next week maybe. Good luck with your application process.
  34. tazman

    tazman Member

    Joined:
    Mar 9, 2002
    Messages:
    25
    SDN 7+ Year Member
    I sent in my FAFSA about a week ago. I think my EFC was around $2500.
  35. futuredentist

    futuredentist Member

    Joined:
    Feb 20, 2002
    Messages:
    31
    SDN 7+ Year Member
    Hi daisygirl,
    I talked to my school's financial aid office yesterday. The EFC has no bearing on the loans(both stafford subsidized & unsubsidized) a student can receive. A student can request and will get the full maximum loan amount per year( sub - 8,500$ & unsub - 18,500$) if the student wants it. That is a huge relief for me. The EFC has bearing only when an undergraduate student needs a grant. A graduate student is not eligible for grants anyway. Hope this clears any questions you have.
  36. daisygirl

    daisygirl woof

    Joined:
    Nov 28, 2001
    Messages:
    1,529
    Location:
    perpetually cranky
    SDN 10+ Year Member
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by futuredentist:
    <strong>Hi daisygirl,
    I talked to my school's financial aid office yesterday. The EFC has no bearing on the loans(both stafford subsidized & unsubsidized) a student can receive. A student can request and will get the full maximum loan amount per year( sub - 8,500$ & unsub - 18,500$) if the student wants it. That is a huge relief for me. The EFC has bearing only when an undergraduate student needs a grant. A graduate student is not eligible for grants anyway. Hope this clears any questions you have.</strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Thanks so much futuredentist! :D
  37. E'01

    E'01 1K Member

    Joined:
    Jun 26, 2001
    Messages:
    1,216
    Location:
    NY
    Status:
    Medical Student
    SDN 7+ Year Member
    Yay for more than one family member being in college! My parents income came out to about $103,000 and I earned only about $12,000 last year. I guess because my parents are paying a huge chunk for my sister's tuition, my EFC only came out to roughly $2300 :)
  38. johnM

    johnM Senior Member

    Joined:
    Jan 8, 2002
    Messages:
    404
    Location:
    Bethesda, MD
    SDN 7+ Year Member
    My fed gross income was ~11K last year, but my EFC was still $0! I don't know how this works, but I'm not too concerned since I think I'm going to USUHS anyway.
  39. johnny88

    johnny88

    Joined:
    Feb 27, 2009
    Messages:
    1
    The EFC is basically what they expect you to pay isn't it? If my school costs 30g a year and my EFC is 29 I'm basically going to be paying all of it by myself with the exception of one of their silly loans.

    Anyway my question is, some people here talk about independent and parent information. I live with my parents, but can I consider myself independent and take out my family information? I don't recall it allowing me to leave their fields blank. What does being independent require?
  40. TMP-SMX

    TMP-SMX Senior Member Moderator Emeritus

    Joined:
    Jun 12, 2006
    Messages:
    3,474
    Status:
    Resident [Any Field]
    SDN 7+ Year Member
    You couldn't make a new thread? I'm glad you used the search though. ;)

    EFC is not what they expect you to spend. In your situation you don't have to spend a dime on school but it is probably a good idea if you have the assets to spend your money on it. You can also take out the $8500 in subsidized stafford loans each year because they have no interest until graduation. If you really had enough assets to pay for school then after they put the $8500 toward your tuition take $8500 of your own money and invest it in something safe.

    We are all independent for medical school. Are you going to medical school/grad school? Are you turning 24 in the next year or are married? If yes to either one you are independent for the FAFSA. You can be dependent on taxes and independent on the FAFSA as they are unrelated to each other. It can only help you to include parental information on the FAFSA in order to get need-based aid. However, if your EFC is 29,000 you won't be eligible for it as that, if independent, only includes your assets and income and not your parental EFC. So taking out parental information won't help you as it isn't included in the normal FAFSA calculation for independents. The need-based EFC includes parental information also but you don't have to worry about that.

    Now down to the nitty gritty on the 29,000 EFC. You say your school is $30,000 a year. Is that just tuition? As long as your cost of living/expenses are at least $7500 above that tuition figure ($37,500) you will be eligible for the full $8500 in subsidized stafford loans. If not, then you will still be eligible for the full $40,500 in unsubsidized stafford loans and an unlimited amount of grad plus if your cost of attendance is high enough.

    Let us know if you have any more questions.

Share This Page


About the ads