FAFSA EFC problems?
Vocaboly.com Forum Index Vocaboly.com
Vocabulary builder software for SAT, TOEFL, GRE, GMAT and more
 
 FAQFAQ   MemberlistMemberlist   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 
 
Google
 
Web www.vocaboly.com
FAFSA EFC problems?

 
Post new topic   Reply to topic    Vocaboly.com Forum Index -> soc.college.financial-aid
Author Message
Batch
Guest
Posted: Thu Apr 07, 2005 1:55 am    Post subject: FAFSA EFC problems? Reply with quote
I was wondering if someone help me understand the EFC calculation a
little better.

I have a friend that was recently widowed that recieve a life insurance
payment of $80K, with an annual income of $50K and two kids to get
through college living in the Northern Virgina area.

The first is starting college this fall, 2005. Her EFC was $22K which
is over half of her mom's yearly income which she can't afford. The
student only had an income of less than $3500.

The mom wants to keep the insurance money available for emergencies
since her other child may have medical needs that will not be covered
by insurance and she may have to pay out of her own pocket.

Is there some way to indicated this on the FAFSA form so her EFC will
come down to something she can afford?

Back to top
Delbert
Guest
Posted: Sun May 22, 2005 3:32 am    Post subject: Re: FAFSA EFC problems? Reply with quote
"Batch" <batchelor.barry@gmail.com> wrote in message
news:1112817339.512652.204500@f14g2000cwb.googlegroups.com...
Quote:
I was wondering if someone help me understand the EFC calculation a
little better.


For all: EFC calculations are explained completely on the web in this
tutorial:

http://www.ed.gov/offices/OSFAP/fsacoach/lesson7_1/7_1_2.html


Quote:
I have a friend that was recently widowed that recieve a life insurance
payment of $80K, with an annual income of $50K and two kids to get
through college living in the Northern Virgina area.


Your friend's EFC should be calculated using the REGULAR formula, and with
an application of Professional Judgment.

I urge you (and anyone else with questions) to use the EFC worksheets for
yourself, and review the tutorials about Professional Judgment that can be
exercised by FAAs.

DO NOT rely on a FAA to "tell" you what's what.

I have found that, in the last 9 months of my working in the field, that
99.99% of Financial Aid "professionals" don't have the first clue of what
they think they're talking about.

Quote:

Is there some way to indicated this on the FAFSA form so her EFC will
come down to something she can afford?


No. The FAA will have to use Professional Judgment. If they can.

Good Luck!
Back to top
 
Post new topic   Reply to topic    Vocaboly.com Forum Index -> soc.college.financial-aid All times are GMT + 1 Hour
Page 1 of 1

 
 You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



Office Forum Access Forum Electronics Windows Server Exchange Server
New Topics Powered by phpBB