So I need the EFC in cash?

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.

MiesVanDerMom

D.o. or Die
10+ Year Member
Joined
Nov 16, 2004
Messages
1,454
Reaction score
15

Members don't see this ad.
just filed my FAFSA and got my report and it says my EFC is 3000 dollars. we're not really that liquid. not sure how much they think it costs to raise two kids in th city but whatever. Will I absolutely need this in cash or could it be gotten in loans?
 

Sol Rosenberg

Long Live the New Flesh!
15+ Year Member
Joined
Feb 12, 2006
Messages
3,534
Reaction score
12
Nope, you can get Unsubsidized Stafford Loans up to what your school says your cost of attendance is (or the maximum per, whichever is lower.) I believe that the EFC is used to determine your eligibility for need-based aid like Subsidized Stafford Loans.
 

MiesVanDerMom

D.o. or Die
10+ Year Member
Joined
Nov 16, 2004
Messages
1,454
Reaction score
15
I sure as hell hope not...ours was like 34K.

Just submitted today.

holy crap. that makes me feel a whole lot better :laugh: I get really freaked out about money. Thanks for the replies. :thumbup:
 

grinchick5

Full Member
10+ Year Member
7+ Year Member
Joined
Jul 26, 2006
Messages
249
Reaction score
2
Nope, you can get Unsubsidized Stafford Loans up to what your school says your cost of attendance is (or the maximum per, whichever is lower.) I believe that the EFC is used to determine your eligibility for need-based aid like Subsidized Stafford Loans.

I actually spoke to an aid officer at my school this afternoon. She confirmed that EFC is used to determine eligibility for need-based aid.
 

Doctor Bagel

so cheap and juicy
Moderator Emeritus
15+ Year Member
Joined
Sep 26, 2002
Messages
10,910
Reaction score
1,153
I sure as hell hope not...ours was like 34K.

Just submitted today.

Yeah, I had a similar shock last year. :eek: Mine for this year is $5k, which I also really don't have. The thing that's crazy is that even if my husband and I had kept our jobs, there's no way we could have come up with the EFC we got for last year, and we actually live pretty modestly.
 

Jinterpol

Full Member
10+ Year Member
7+ Year Member
Joined
Dec 20, 2006
Messages
72
Reaction score
0
The EFC pisses me off. Mine is close to $7K, which is $7 I don't have. I have bills and live in a very expensive metro area...I actually live more frugal now that I'm 3 years out of college than when I was in it...and do you mean to tell me that some 22 year old is going to get more need-based aid then me b/c they just dicked around a college campus for 2006?
 
Top