Steve Blank
Guest
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| Posted: Thu Jan 22, 2004 1:03 pm
Post subject: Re: EFC calculated |
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dustin wrote:
| Quote: | well I downloaded the 2004-2005 EFC formula from net. My expected
family contribution came to 2700. what can i expect from this much
EFC in terms of grants and loans, i'm going to a 4-year university
that will cost around 10,000 a year to attend?
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Cost minus EFC equals need. So your maximum eligibility for aid next
year is $7,300.
Since your EFC is under $3,850 you'll automatically receive a Pell Grant
of about $1,300. Since you still have need, you'll also automatically be
offered a $2,625 Stafford Loan. Beyond that, the school will decide how
much, if any, of the remaining need they want to offer you in the form
of grants/scholarships from their own funds, work-study, and Perkins
loans. That's based on your need and also the quality of the student -
the most to the best.
--
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Cheshire, CT 06410
(203)250-7761 |
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