AHeartLikeHis

My mom will be divorced next week, so when she files in January our EFC will be substantially lower than it was last year and this year. She has made $6,000 in the last year and currently is unemployed. There are 4 people in my household (mom, me, identical twin, and grandmother)...out of the 4, 3 of us are in college full time.

I have $500 in my bank account, mom has about the same.

With that situation, do you think our EFC will be 0 and that I will be offered financial aid and work study?

mom2collegekids

I think your EFC will be based on the 2009 income when your mom was married for most of the year. not sure how that is handled when a divorce changed future income. Did your mom divorce your dad or a step-dad?

Private schools are going to wnat to see your dad's income/assets info.

Unless you have high stats, I would recommend an inexpensive in-state public so that you don't end up racking up a bunch of unaffordable student loans. You could get some grant money to cover much of in-state public, but I doubt you'd get enough free money to pay for dorm and food costs.

Is your twin already in college? Your mom and grandma are in college, too? Do you plan on going to college and living at home? Where would you be going to college?

AHeartLikeHis

She is divorcing my stepdad.... NO, I am in a state school (Valdosta State University)...my mom is in a local private school and my twin is at the local community college.

And she gets to file as divorced...so I THINK it will just be her salary info, right?

swimcatsmom

Yes she can file FAFSA with just her financial information if she is divorced/separated. Any alimony/support will also have to be reported as well. It is likely the school will want to know how she is supporting 4 people on $6000.

On your FAFSA you cannot include your Mom as 1 in college. FAFSA specifically disallows this. You can include your sibling. Your sibling can include you. Your Mom can include you both on hers. So your and your siblings FAFSAs will show 2 in college. Your Mom's will show 3.

I would imagine you should end up with a 0 EFC based on the information in your post.

vballmom

Your mom will file her 2009 income taxes as head of household, without your father's income on it, since she will be legally divorced before Dec 31, 2009. Her adjusted gross income will be very low, if it's even greater than zero. You will most likely have an EFC of 0 on FAFSA.

AHeartLikeHis

What exactly does that mean? Here is what it costs to attend my school:
Tuition- $1,598 semester
Meal plan- $1,615 per semester
Housing- $2,140 per semester
Fees- $785 per semester
Total per semester- $6,138/$12,276 per year

swimcatsmom

Using 2009-2010 numbers (they may change next year).

For federal aid a 0 EFC should make you eligible for the Pell grant of $5350 for the year. You will also be eligible for a Stafford loan of $6500 (assuming you will be a sophomore - it is less for a freshman, more for 3rd+ year) of which up to $4500 may be subsidized.

Other federal aid you may be eligible for depending on your school and other factors:

SEOG - this is a federal grant - amount and eligibility criteria varies by school. For instance at my daughter's school the maximum is $2000, at my sons it is only $200.
ACG - a federal grant - for freshmen ($750) and sophomores ($1300) only. Requires Pell eligibility and that certain academic criteria be met.
SMART - a federal grant - $4000 - juniors/seniors only. Requires Pell eligibility, certain majors (mostly science/math, some languages/other), academic criteria (GPA).
Perkins - federal loan. Very limited. Some schools do not have any perkins funding at all.

Also you may be eligible for aid that your State has. You would need to check with them. And you would need to check with your school if they have any institutional aid.

hmom5

You have several issues. Your grandmother may or may not be considered part of the household depending on what percent of her support she receives from your mother. As others said, your sib counts as another in school but not your mom.

Is there any child support in the situation from your bio dad?

Then the big question--does your college meet 100% of need? Most state schools do not. So what you get remains to be seen, even with a zero EFC.

mom2collegekids

Are you a freshmen? How did you pay your first semester's bills?

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It is likely the school will want to know how [your mom] is supporting 4 people on $6000.
<<<<

This is true...Doesn't sound believable. Does your grandma contribute money to the household? Is your mom living in Grandma's home?

How much are you getting in aid now?

Maybe Swimcatsmom can answer this...

if this girl needs to transfer from this school to one near her home, so that she can commute to school, will she still get F/A at the new school? I realize that her COA would change because R&B would be gone, but if she had a 0 EFC, would she still qualify for grants and stuff as a transfer.

<<<<<<
Then the big question--does your college meet 100% of need? Most state schools do not. So what you get remains to be seen, even with a zero EFC.
<<<<<<<<

Very good point. She could end up with a lot of student loans, if she stays at that school.

sk8rmom

Mom2, her Pell and Stafford loans would cover almost all of the costs she listed. If the student transfers, they apply for aid through their transfer school using the same FAFSA data. Some schools use the discretionary funding (FSEOG, Perkins) for returning students.