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BlsdMama
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Well, then that's just weird.  Because my daughter (a senior) has a HIGHER EFC but she worked more hours, has more assets, etc.  (Under $1500 though.)
DS has lower income (incoming freshman) and heckuva lot better stats and the gap between their offered financial aid in scholarships was $3k.  Not to mention that he has listed a slightly lower EFC.

 

There are three of us attending this university full time.  The difference between the financial aid packages is more than a little disheartening.

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Well, then that's just weird.  Because my daughter (a senior) has a HIGHER EFC but she worked more hours, has more assets, etc.  (Under $1500 though.)

 

Why is that weird? If she has more income and assets, she should have the higher EFC! The more the student earns or owns, the more she will be expected to contribute, and the higher the EFC.

 

Parents' contribution plus student's contribution from income plus student's contribution from assets = EFC

 

https://studentaid.ed.gov/sa/sites/default/files/2016-17-efc-formula.pdf

see p. 10

 

 

Edited by regentrude
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Why is that weird? If she has more income and assets, she should have the higher EFC! The more the student earns or owns, the more she will be expected to contribute, and the higher the EFC.

 

Parents' contribution plus student's contribution from income plus student's contribution from assets = EFC

 

https://studentaid.ed.gov/sa/sites/default/files/2016-17-efc-formula.pdf

see p. 10

 

 

This is my thought.  Seems right but I must be missing something?  The one with higher assets and earnings will have a higher EFC.

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Well, then that's just weird. Because my daughter (a senior) has a HIGHER EFC but she worked more hours, has more assets, etc. (Under $1500 though.)

DS has lower income (incoming freshman) and heckuva lot better stats and the gap between their offered financial aid in scholarships was $3k. Not to mention that he has listed a slightly lower EFC.

 

There are three of us attending this university full time. The difference between the financial aid packages is more than a little disheartening.

You can appeal to the financial aid office for a better package; maybe go in person with the aid/scholarship offers for all three family members and ask if they can improve the package for those who are getting less.

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Well, then that's just weird.  Because my daughter (a senior) has a HIGHER EFC but she worked more hours, has more assets, etc.  (Under $1500 though.)

DS has lower income (incoming freshman) and heckuva lot better stats and the gap between their offered financial aid in scholarships was $3k.  Not to mention that he has listed a slightly lower EFC.

 

There are three of us attending this university full time.  The difference between the financial aid packages is more than a little disheartening.

 

EFC has nothing to do with stats, it is strictly financial. Stats are going to relate to merit aid. 

 

The lower your income and assets, the lower your EFC will be. Colleges may offer you grants to lower your cost and get it closer to your EFC, but "EFC" is a FASFA term; a college that claims to meet full need may still come in quite a bit above your EFC. What they consider to be your need can be different from the FASFA EFC.  

 

If a school wants a certain student, they might wrangle up some additional grant money. 

 

Grant money is going to vary from college to college for the same student, and it is going to vary within a college for different students even if they have the same EFC. 

 

The person with higher stats will generally be offered more in merit aid, but more in merit aid sometimes means less in grants. 

 

The financial aid package is going to list everything - grants, merit aid, loans. 

 

It makes sense that your son's EFC was lower. If he has higher stats, it would make sense that he is offered more merit aid - is that the case? 

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Do you mean the kids have different net prices? Yes, that is possible.

Some reasons why it might be the senior pays more:

1. Senior has more assets or income

2. School fills in their own grants after all federal aid is used, and a senior has a higher maximum federal loan amount

3. School plans their aid budget when accepting each freshman class. The budgeted grant amounts do not increase to keep up with tuition increases over the years so by senior year they're behind.

4. School expects a minimum student contribution and assumes seniors are capable of earning more money than freshmen.

 

If the senior's net price is much higher than what it was last year, you should verify that it is correct. A large increase in price when there is a sibling starting college as well would be unusual. Not all schools give a big discount in price when the second student starts, but it's not typical for them to ask for tons more.

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This is my thought.  Seems right but I must be missing something?  The one with higher assets and earnings will have a higher EFC.

 

Isn't EFC expected FAMILY contribution?  I would think self contribution is the gap?  No?

 

So I would expect her self contribution to be greater and our EFC to be lower?

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Do you mean the kids have different net prices? Yes, that is possible.

 

Some reasons why it might be the senior pays more:

1. Senior has more assets or income

2. School fills in their own grants after all federal aid is used, and a senior has a higher maximum federal loan amount

3. School plans their aid budget when accepting each freshman class. The budgeted grant amounts do not increase to keep up with tuition increases over the years so by senior year they're behind.

4. School expects a minimum student contribution and assumes seniors are capable of earning more money than freshmen.

 

If the senior's net price is much higher than what it was last year, you should verify that it is correct. A large increase in price when there is a sibling starting college as well would be unusual. Not all schools give a big discount in price when the second student starts, but it's not typical for them to ask for tons more.

 

The net price for DS (the younger of the two and the one with better stats) is significantly greater than DD.  It's boggling my mind over here.  We expected his package/offer to be better than hers.  We were tickled with what the U offered her these past few years and we were a little unpleasantly surprised about his.   He's definitely filling out scholarship apps outside of the U to offset it, but I admit it, it threw me for a loop.  

 

We know he missed out on a $3k scholarship he should have automatically gotten.  We filled out his FAFSA and had it sent ASAP in October, thus filling out what the website said.  And I was so stupid.... didn't even think about the fact that his admission packet had to be done by Dec. 1.  Wanna say ten days too late?  Frustrated with me right now.  

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Isn't EFC expected FAMILY contribution? I would think self contribution is the gap? No?

 

So I would expect her self contribution to be greater and our EFC to be lower?

Does your financial package actually break it down that way? In other words, does it say which part of the bill after grants and loans is expected to be paid by the student versus the parents?

 

I didn't think that was a typical thing.

 

What do you mean by self-contribution? Self-help usually refers to loans and work-study.

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So it has our EFC listed at the bottom of the itemized expenses and the an itemized list of scholarships and grants.  Then it has his loans and our expected PLUS loan.  His loans are maxed to freshman ability.  Then our loans (by themselves) would be more than our EFC by about 50%.  

 

He qualified for a specific $3,000 scholarship.  He met the website criteria by having his FAFSA there in October (well in front of the Dec. 1 deadline) as well as meeting income and academic criteria.

 

Per website:
 priority is given to students whose FAFSA record is received on or before December 1, 2016)

 

No mention of admission app deadline but that's kind of a SMH moment of, "Duh, of course they have to have that."

 

I wonder what my chance at appeal is.  I read this: http://www.forbes.com/sites/robertfarrington/2015/05/12/how-to-file-a-financial-aid-appeal/#6e8fc7356875

 

And I wonder, given that he is homeschooled and was dependent on my transcripts/info as his high school admin/counselor, does all the medical stuff I went through in November and December qualify for a review and reconsideration?  I have tons of proof - as in insurance proof that shows my primary doctor seeing me in October for the original referral, then the first neuro visit on Nov. 11, and then a huge series of tests - bloodwork, three MRIs, an EMG, etc through all of November, to result in a neuro referral to a bigger hospital.  Not to mention that it shows our family racked u $56k in medical expenses (only almost $8k ours) and will do the same this year again because I will only just be diagnosed, most likely, next week and then have to figure out the treatment plan. (Another round of testing with the lumbar puncture tomorrow.) 

I wonder if they would reconsider.  I get that it's $3k and won't fill the gap,  but unless he gets it this year, he doesn't get it the next three following years either for a grand total of $12k.    It can't hurt to ask for consideration?

Edited by BlsdMama
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Isn't EFC expected FAMILY contribution?  I would think self contribution is the gap?  No?

 

No, as I cited in earlier post, student contribution is part of family contribution.

 

Parents' contribution plus student's contribution from income plus student's contribution from assets = EFC

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Absolutely ask. Make sure that you:

 

1. Make your best case up front (don't add a new circumstance every time you talk to them)

2. Have a number in mind. How much do you need to make things work to avoid taking a gap year and trying new schools next year. They will likely ask for your bottom line and you should not be caught off guard.

3. Be prepared to document circumstances.

 

Good luck!

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Definitely ask. 

 

Is this a private school? 

 

Nope, public U where I, DD, and DS will all be full time attendance.   Family discount?!?!  :)

 

Absolutely ask. Make sure that you:

 

1. Make your best case up front (don't add a new circumstance every time you talk to them)

2. Have a number in mind. How much do you need to make things work to avoid taking a gap year and trying new schools next year. They will likely ask for your bottom line and you should not be caught off guard.

3. Be prepared to document circumstances.

 

Good luck!

 

Thanks - so essentially that is what I did.  I asked that he be reconsidered for either the Academic Success scholarship or the Tuition Scholarship, both of which he was completely qualified for EXCEPT for not getting that darn app in a few weeks earlier.  I also included proof of the dr. visits and the dates via my insurance claims to prove that I was truthful.  Here's to crossed fingers.

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Well, then that's just weird.  Because my daughter (a senior) has a HIGHER EFC but she worked more hours, has more assets, etc.  (Under $1500 though.)

DS has lower income (incoming freshman) and heckuva lot better stats and the gap between their offered financial aid in scholarships was $3k.  Not to mention that he has listed a slightly lower EFC.

 

There are three of us attending this university full time.  The difference between the financial aid packages is more than a little disheartening.

That is not weird at all. The one who earns less would have a lower EFC. 

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That is not weird at all. The one who earns less would have a lower EFC. 

 Okay, no wonder everyone responded in the negative.  I wrote it wrong!

 

DS has a HIGHER EFC and fewer personal assets and worked less.

 

I mailed off a letter yesterday with proof.  Here's to hoping.

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 Okay, no wonder everyone responded in the negative.  I wrote it wrong!

 

DS has a HIGHER EFC and fewer personal assets and worked less.

 

I mailed off a letter yesterday with proof.  Here's to hoping.

 

Does FAFSA list a higher EFC for him, or the University, or both?

 

If FAFSA does, I'd recheck everything you entered for FAFSA to see if something got messed up.

 

If the University does, then I'd recheck with them. It does seem that something, somewhere, is off. 

 

Are there any scholarships/grants your dd receives that are being phased out--not available to new students now?

Are there any scholarships/grants that don't get added on until later in the process? 

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