cornflakesguy

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Hey everyone. I was just wondering if our EFC's are just all $0 since we are going into professional school, or if the EFC is still solely dependent on our income and our parents'.

Thanks so much---I just got an EFC of $0, and I was just wondering if it had to be my family's low income, or just that it's automatically processed that way.
 

OSUdoc08

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cornflakesguy said:
Hey everyone. I was just wondering if our EFC's are just all $0 since we are going into professional school, or if the EFC is still solely dependent on our income and our parents'.

Thanks so much---I just got an EFC of $0, and I was just wondering if it had to be my family's low income, or just that it's automatically processed that way.
It is based on your income, and not your parents. Mine was 0.
 

MedicineBird

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How is it you are all geting $0??? I only made ~$25,000 and have no parental income to report and my EFC is close to $9,000.
 

PBMaxx

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MedicineBird said:
How is it you are all geting $0??? I only made ~$25,000 and have no parental income to report and my EFC is close to $9,000.
My EFC is definitely NOT zero (I made too much money last year working full time-- Boo Hoo, I know). Try on 13700 for an EFC!!

Too bad I didn't save a bunch up like FAFSA/US Dept of Ed assumes I did!
 

MWillie

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I have an EFC of 0, since I didn't work and made less than a thousand off my passive investments. Excellent.
 
M

melimi

wait, i dont get it. if its based on my income and not my parents, why did i get an EFC of $2000 when i only made $13,000 last year. am i reading the right number tho, cuz theres no dollar sign in front of it??? where is it???
 

longhorndoc

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My EFC was around $350. I only worked part time last year while in school
 

fotolilith

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MedicineBird said:
How is it you are all geting $0??? I only made ~$25,000 and have no parental income to report and my EFC is close to $9,000.
That's so crazy! I live frugally and save, but I don't even know how I'm gonna come up with the money for *taxes*, let alone $9000.
 
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cornflakesguy

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Thanks, everyone, for answering my thread. I guess I still don't know where these calculations are coming from, but I'm at least glad the government recognizes that I really don't have much more money. Ick. Thanks, again!
 

OSUdoc08

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MedicineBird said:
How is it you are all geting $0??? I only made ~$25,000 and have no parental income to report and my EFC is close to $9,000.
Because most pre-med students don't work much during the MCAT and med school application years
 

MedicineBird

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OSUdoc08 said:
Because most pre-med students don't work much during the MCAT and med school application years

I worked fulltime throughout school and don't recall my EFC ever being this much. crazy. I guess the reality of it is that it just means i get to take out more loans because there's no way in hell I can fork that kind of money over. WHat's another ten grand? bring it on. :rolleyes:
 

MedicineBird

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fotolilith said:
That's so crazy! I live frugally and save, but I don't even know how I'm gonna come up with the money for *taxes*, let alone $9000.
My thoughts exactly
 

MedicineBird

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joy77 said:
Yes, where/when is this "EFC" displayed? Thanks.
it's the number at the end of your completed FAFSA after "EFC". There's no dollar sign. Log onto the website and look at your SAR.
 

joy77

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Um, yeah, I found the EFC, and I am rather shocked. I am married and my husband works full-time, but I didn't notice anywhere on the FAFSA to enter his huge monthly student loan payments. I hope there's a separate form for each school that takes that into account.
 

lizbjrddnr

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Yeah, EFC is pretty much not very fair to people who make like over 7000 in a year (very non-scientific generalization). They figure you're working to save up, right??! Of course it doesn't make sense that you might necessarily still have that money, but they manage to think you do... It works the same way for undergrad, when if your parents made over a certain amount (and including other factors) then FAFSA assumed you lived in voluntary poverty and the 'rents had been saving up the rest for your education...
 

cammy1313

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joy77 said:
Um, yeah, I found the EFC, and I am rather shocked. I am married and my husband works full-time, but I didn't notice anywhere on the FAFSA to enter his huge monthly student loan payments. I hope there's a separate form for each school that takes that into account.
I think loan payments and things are taken into account in the net annual income question. For example: I made about $11000 last year but I made $4000 in loan payments. Therefore, my net income was around $6000 which my 1040 tax form confirmed as well.

My EFC was 988....not sure what it means but there it is! :D
 

fotolilith

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Interesting. Thanks, keep up the insight into the crazy world of FAFSA!