EFC of 0 = impossible

[chattkis]

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I don't understand how anyone can have an EFC of 0 unless you finance ALL of your living expenses on loans.

If you have a job you have an EFC.
If you live on an inheritance you have an EFC.
If your parents or guardian provide you with money you are suppose to report that on Worksheet B and you have an EFC.

How can you have and EFC of 0?

 

[Rafa]

What if you have a job, and every penny from the job funds school, rent, water, heat, electricity, food, and transportation?

It can, and it does happen. As that little rainbow says, "...the more you know..."

 

[chattkis]

What if you have a job, and every penny from the job funds school, rent, water, heat, electricity, food, and transportation?

It can, and it does happen. As that little rainbow says, "...the more you know..."

Im confused. If you have a job, you get a W2. You have to report your W2 income on your FAFSA whether you spent it or saved it.

 

[Saluki]

I don't understand how anyone can have an EFC of 0 unless you finance ALL of your living expenses on loans.

If you have a job you have an EFC.
If you live on an inheritance you have an EFC.
If your parents or guardian provide you with money you are suppose to report that on Worksheet B and you have an EFC.

How can you have and EFC of 0?

The EFC doesn't mean you don't have an income; it just means that you don't make enough to be expected to be able to contribute. I listed the income I made last year on my form, but I still came up with an EFC of zero...

 

[chattkis]

The EFC doesn't mean you don't have an income; it just means that you don't make enough to be expected to be able to contribute. I listed the income I made last year on my form, but I still came up with an EFC of zero...

Ok I see you have to make more than $5790. But isn't it wrong for those without a w2 income not to report parental contributions?

 

[Rafa]

Im confused. If you have a job, you get a W2. You have to report your W2 income on your FAFSA whether you spent it or saved it.

But if you don't have any money left, it doesn't matter (presuming you have a low income and all/most of it is being used to keep you alive day-to-day). You aren't expected (in an ideal FAFSAworld) to contribute what you don't have.

 

[Saluki]

Ok I see you have to make more than $5790. But isn't it wrong for those without an income not to report parental contributions?

I don't get any parental contributions, so I'm not sure, but isn't there a spot on the form for that? And for most schools you need to list your parental info to get need based grants...

 

[browniegirl86]

Ok I see you have to make more than $5790. But isn't it wrong for those without a w2 income not to report parental contributions?

Haha . . . my "income" was 3100-ish, and my EFC was still like 1500. Hooray.

 

[Em1]

For anything beyond undergrad, you are considered independent from your parents and the government doesn't care what they make (for things like Stafford loans)

However, certain schools require parental info for their need-based grants/loans. So my parents' info is on my FAFSA but my EFC is 0.

(Although I don't think schools should care about how much my parents make since they're not funding med school...)

 

[Saluki]

Haha . . . my "income" was 3100-ish, and my EFC was still like 1500. Hooray.

That's weird my income is only a little less than yours and I got an EFC of zero 😕

 

[chattkis]

For anything beyond undergrad, you are considered independent from your parents and the government doesn't care what they make (for things like Stafford loans)

However, certain schools require parental info for their need-based grants/loans. So my parents' info is on my FAFSA but my EFC is 0.

(Although I don't think schools should care about how much my parents make since they're not funding med school...)

I don't mean entering your parent's info. I mean for those who don't have a job SOMEONE must have contributed to your living expenses (probably parents) and you must enter that on YOUR worksheet B on the fafsa.

 

[chattkis]

But I guess if your parents gave you less than 5790 then your EFC could be 0. But what college student can live on just 5790 a year?

 

[Saluki]

I don't mean entering your parent's info. I mean for those who don't have a job SOMEONE must have contributed to your living expenses (probably parents) and you must enter that on YOUR worksheet B on the fafsa.

I'm financed partly by work-study and partly by a pell grant. I don't think that either of those have to be entered anywhere...

 

[Rafa]

But I guess if your parents gave you less than 5790 then your EFC could be 0. But what college student can live on just 5790 a year?

Are you *kidding*?

Freshman year, I think I spent around 2300 *at the most* on food, books, and electronic toys. You don't need 6,000 to get through two semesters of college. I'm not talking about tuition or lodging, but for everything else - including travel, you shouldn't need too much to get by at all.

 

[MollyMalone]

You seem to be forgetting that many people finance their undergraduate existence via loans.

ETA: I see you mentioned this possibility in your initial post, but you seemed to forget it towards the end.

 

[.edu-MD]

Depending on age, and other circumstances (number of dependents), varying amounts of income are protected. This is how you can have a low income and end up with a zero EFC. If you want to know the formula, look in the non-trads forum. There was a posting there within the last few days with a link to the worksheet.

 

[tennisnr2]

Since we are applying to professional school we are considered independents by the FAFSA so parents salary is not included. Also since we as students don't make much money we will have a EFC = 0.

 

[Em1]

I don't mean entering your parent's info. I mean for those who don't have a job SOMEONE must have contributed to your living expenses (probably parents) and you must enter that on YOUR worksheet B on the fafsa.

Ah, gotcha. My dad actually filled out the forms, so I'm not exactly sure what went on my worksheet B.

 

[browniegirl86]

That's weird my income is only a little less than yours and I got an EFC of zero 😕

I realized why after I posted.

My parents sell stocks (Dow stock, given to Dow employees as bonuses instead of real money) to pay tuition. We've had a certain amount set aside our whole lives as a sort of "college fund."

BUT

The stocks are in my name. So those capital gains go into MY EFC. Aha. This is the same reason that I end up owing every year on my taxes while all my friends are getting return checks.

 

[thegenius]

Haha . . . my "income" was 3100-ish, and my EFC was still like 1500. Hooray.

Umm, my EFC was 20x yours.

(But I did make a lot more than 3100.)

I don't understand this EFC too. Are we expected to liquidate our savings and investments to go to medical school?

 

[MollyMalone]

I don't understand this EFC too. Are we expected to liquidate our savings and investments to go to medical school?

Not if you don't want to. You always have the option of taking out private loans if you choose.

 

[thegenius]

Are you *kidding*?

Freshman year, I think I spent around 2300 *at the most* on food, books, and electronic toys. You don't need 6,000 to get through two semesters of college. I'm not talking about tuition or lodging, but for everything else - including travel, you shouldn't need too much to get by at all.

Did you have a scholarship? What about lodging? If you didn't pay for tuition and lodging, someone did. If all you spent was $2300 over, say, 9 months, I find that miraculous (but possible I suppose). Just $255/month?

 

[C.P. Jones]

Not if you don't want to. You always have the option of taking out private loans if you choose.

the real answer is you should actually begin to learn how to live out of a shopping cart while you have the chance, which you will actually have to sell by second year

 

[kirexhana]

my efc's zero, cuz i don't have a job. but my parents support me (tuition + books + allowance), so am i doing something wrong on fafsa?

edit: i forgot to mention that i live at home too.

 

[The Madden Bus]

I don't get any parental contributions, so I'm not sure, but isn't there a spot on the form for that? And for most schools you need to list your parental info to get need based grants...

So let's say your parents make like 150g a year, for example, but you aren't financed at all by them. You finance yourself from a job you have where you make like 10g a year or something like that. Medical schools would give you 0 grants because of how much your parents make eventhough they don't support you and you are poor?

 

[thegenius]

Not if you don't want to. You always have the option of taking out private loans if you choose.

So I guess the answer to this, from the government's perspective, is yes...are you are expected to liquiduate the majority of your assets.

 

[MollyMalone]

So I guess the answer to this, from the government's perspective, is yes...are you are expected to liquiduate the majority of your assets.

I could be wrong, but you sound a little bitter. Allow me to simply say that I wish I had your problems.

 

[thegenius]

I could be wrong, but you sound a little bitter. Allow me to simply say that I wish I had your problems.

I'm not bitter, but somewhat frustrated.

If you make a high salary, you will have a high EFC. If you make a little salary, you will have little EFC.

If you have a lot of assets, you will have a high EFC. If you have little assets, you will have a little EFC.

Anyway you look at it, I'm coming out of med school with over 100K in debt.

I might take out private loans if I can get them for under 6%. I can beat 6% over four years by investing in the stock market. There are several good, stable securities that will return you about 10%.

 

[ghostchild]

But I guess if your parents gave you less than 5790 then your EFC could be 0. But what college student can live on just 5790 a year?

My EFC was 0 too. I actually live on less than 1K/yr income and no parental contributions. A little advantage of staying at home and going to an in town college! Apparently I get food and a place to sleep instead of monetary support. What I haven't been able to make up the difference for has gone onto a mastercard bill that is fairly large at this point. And I always keep less than $50 in cash, savings, etc. because I hate those interest charges on that bill. 👎

 

[Rafa]

Did you have a scholarship? What about lodging? If you didn't pay for tuition and lodging, someone did. If all you spent was $2300 over, say, 9 months, I find that miraculous (but possible I suppose). Just $255/month?

See my post. I'm not counting tuition and lodging. If the OP was, then that's quite a different story.

 

[tennisnr2]

FYI: For those of you that do have EFC = 0 or very low. Most med schools if not all will recalculate (read as increase) your EFC to include your parents financial info regardless of if you're 30 and married and your parents will not give you any money for med school.

 

[chattkis]

I'm not bitter, but somewhat frustrated.

I totally hear ya. I'm going to liquidate assets making 10% to pay for medical school - yea right! This is dumb., Haha. I think I am bitter.

 

[chattkis]

So the whole point of this thread was to say this: If your parents (or guardian or whoever) supports you with rent money, food money, gas money, etc. you are suppose to report that on your FAFSA on worksheet B and if it is over 5970 or something like that (which I would assume it would be), you will have an EFC.

But Kuddos to those who live on less than 5970. Not sure how you do it, but whatever!

I hope we all get loans and we can consolidate them at 1% ! (yea right)

 

[chattkis]

FYI: For those of you that do have EFC = 0 or very low. Most med schools if not all will recalculate (read as increase) your EFC to include your parents financial info regardless of if you're 30 and married and your parents will not give you any money for med school.

only when considering scholarships, not for loans.

 

[Jaider]

I hope we all get loans and we can consolidate them at 1% ! (yea right)

Too bad those 1% days are long gone, huh. 🙁

 

[LizzyM]

FYI: For those of you that do have EFC = 0 or very low. Most med schools if not all will recalculate (read as increase) your EFC to include your parents financial info regardless of if you're 30 and married and your parents will not give you any money for med school.

The plot of Love Story revolves around this very situation (Harvard Law , not med school).

 

[Dookter]

FYI: For those of you that do have EFC = 0 or very low. Most med schools if not all will recalculate (read as increase) your EFC to include your parents financial info regardless of if you're 30 and married and your parents will not give you any money for med school.

This is very true. Thank goodness! Otherwise most people would claim themselves as completely independent and scam the system. If your parents are rich and won't help you out, you just have a$$hole parents...that isn't the government's fault. I completely sympathize with the people whose parents will not support them in medical school, even if they are rich. However, I do not feel bad for the people that are complaining about having to spend their money on medical school! If you don't want to spend money on med school, go get a PhD for free!

 

[AStudent]

<---------- EFC = 0 👍

 

[mdille2]

Umm, my EFC was 20x yours.

(But I did make a lot more than 3100.)

I don't understand this EFC too. Are we expected to liquidate our savings and investments to go to medical school?

I am with you on that 20x bit. I have 5 children and they don't care that they actually have to eat and we must pay utilitues..LOL. I think the whole EFC is a load of crapola. But hey who am to question the government?

Marcia

 

[HCW212]

False. I've had an EFC = 0 for almost every semester...

 

[phenylalanine]

I am soooo confused on this EFC thing.... my EFC is like 15000... does that mean I have to contribute 15000 to my education?? (which i can't, the majority of my savings are going to my sister for her college tuition, should I have reflected this under the section about my savings???? instead of putting the amount right now, I should have put the amount that's going to be left in it after my sister eats it away this june???? AHHHHHHHHHH)

 

[psipsina]

FYI: For those of you that do have EFC = 0 or very low. Most med schools if not all will recalculate (read as increase) your EFC to include your parents financial info regardless of if you're 30 and married and your parents will not give you any money for med school.

So I have a question about this parental info thing, my issue isn't worrying about whether my mom makes to much and threrefore this will screw my aid up, but the fact that I can't access her financial info. My mom is a diagnosed psychotic and trying to get her tax info from her is a fruitless effort (trust me I tried for the first two years of undergrad). My undergrad institution (along with tha feds) considered me independent because of this . .. but how people are talking about med schools I'm starting to worry that it won't be so easy to convince them that I just can't get the info from my mom . . . . has anyone ever had any experience with med schools in situtation like this??

 

[Saluki]

I am soooo confused on this EFC thing.... my EFC is like 15000... does that mean I have to contribute 15000 to my education?? (which i can't, the majority of my savings are going to my sister for her college tuition, should I have reflected this under the section about my savings???? instead of putting the amount right now, I should have put the amount that's going to be left in it after my sister eats it away this june???? AHHHHHHHHHH)

If you're providing all that money to your sister, then you should be able to claim her as a dependent. Then, on the form, you'll have one dependent who is in school and your EFC will be decreased. Also, you can write a letter to the school explaining your circumstances.

 

[MollyMalone]

FYI: For those of you that do have EFC = 0 or very low. Most med schools if not all will recalculate (read as increase) your EFC to include your parents financial info regardless of if you're 30 and married and your parents will not give you any money for med school.

FYI: It's definitely not all. There are some who never consider you independent (there's a partial list in the non-trad forum), that's true, but there are many who do past a certain age. Everywhere I interviewed at will consider me independent.

 

[tigress]

I do think many people neglect to put the correct amount of money on their FAFSA from "Worksheet B", answering the question "Money received, or paid on your behalf (e.g. bills), not reported elsewhere on this form." My husband and I are basically completely independent, but I'm actually submitting a correction to my FAFSA because my parents do pay my cell phone bill, and they gave us a bit of money when I was between grad school and my job, but I forgot to put that on the Worksheet B number.

Your EFC can easily be 0 if you are living completely off of student loans, or if you live with your parents. But I do agree that people probably mistakenly don't report significant amounts of money that are given to them by parents or other relatives each year.

And for those of us who are only 24 and married and have a dependent, all schools use our parental info to determine need-based aid. Sucks for us. And sure, I'm lucky enough to have parents who can afford to pay my cell phone bill. They can't, however, support me to any real extent, or help pay for tuition, so the less need-based aid I get the more loans I have to take. And I'm betting I won't get any need-based aid, because my husband hasn't yet and his parents have less than mine do. I'm bitter in general about how much debt we have to be in just to be doctors, not because I think I somehow deserve more aid than other people. None of us should have to go $200,000 in debt to become a doctor.

 

[lobster M.D.]

my EFC is 0, two retired parents on social security, my annual income is 5000, please give me grants

 

[oneaat]

money received or paid on your behalf only needs to be reported on worksheet B if the person paying the money can NOT claim you as a dependent. so if your parents are claiming you as a dependent on their taxes, you don't have to report that stuff.

 

[AStudent]

"Nothing, no matter how improbable, is ever impossible"

Spock bitch

 

[doublepeak]

money received or paid on your behalf only needs to be reported on worksheet B if the person paying the money can NOT claim you as a dependent. so if your parents are claiming you as a dependent on their taxes, you don't have to report that stuff.

That's what I thought... or else you would be reporting it twice - once on their info and again on yours making it look like the money was earned twice. If you were independant (ie they didn't claim you) than you would more or less be earning that money so than it makes sense to include it.

 

[tigress]

lol, I just had to add an update to this thread

I just finished submitted the changes to my FAFSA. What I did was add all of my parental info, add a significant amount of money to Worksheet B because of money given to us or bills paid for us, and changed our household size for 2006-2007 to 3 because we're having a baby. And now my EFC is 0 😛 It has to be because of the extra dependent, since I only added money. So yes, it is possible for even a nontraditional, married and working student to have an EFC of 0.