Expected Family Contribution

[Procrastinator]

Alright, I just wanted to see data for people's EFC. My parents are both teachers here in Cali (they make around 120k combined) and my EFC came out to be $26,000. This seems pretty steep and I was wondering if anyone else would be so kind as to share their data (ie parents salary and EFC) so that I can see if this is a typical number.

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[mpp]

A thread like this has already been started in the Financial Aid Forum. Click <a href="http://www.studentdoctor.net/ubb/ultimatebb.php?ubb=get_topic;f=35;t=000020" target="_blank">here</a>.

 

[Dr. Kermit]

As medical students, aren't we considered independent from our parents and thus, their income shouldn't effect our EFC? I haven't done my FAFSA yet since I'm lazy and my parents are doing their taxes this week. I'm working this year as a lab tech, but I started in June so my personal income should only be around 15K. I'll let you know what my EFC is as soon as I do the FAFSA, as my parents' income is around yours.

 

[Procrastinator]

Thanks mpp.

Kermit, I think that you are considered independent for federal aid (ie loans), but when it comes to institutional grants, im pretty sure that they look at your parents info.

 

[Dr. Kermit]

•••quote:•••Originally posted by Procrastinator:
[QB]My parents are both teachers here in Cali (they make around 120k combined) and my EFC came out to be $26,000.[QB]••••If we're independent, then how on earth is your EFC at 26K? Does this mean the government believes we can chalk up this amount and the rest will be covered by loans?

 

[WaitingImpatiently]

•••quote:•••Originally posted by Procrastinator:
•Alright, I just wanted to see data for people's EFC. My parents are both teachers here in Cali (they make around 120k combined)•••••Just curious, what kind of teachers are your parents? I thought that (public school) teachers made something like $30-40K, $50K tops...

 

[lilycat]

First off, it depends if you are an independent student or not.

If you're not, what are your savings, or your parents' savings like? That definitely impacts your EFC.

Finally, have you been working this year, and if so, what have you been doing with the money (saving it?)?

These factors all go into determining the EFC, I believe.

Now I'll be moving this to the financial aid forum.