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11-01-2009, 09:24 PM
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#1 | | Member
Join Date: Oct 2008
Posts: 740
| If my EFC is 28,000, would FAFSA be a waste?
topic ^^ thanks for everyones help!
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11-01-2009, 09:26 PM
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#2 | | Senior Member
Join Date: Aug 2004
Posts: 9,289
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How much does it cost to attend your college? Do you want a Stafford loan? If the cost of attending your college is OVER $28K, you might get something...maybe even a subsidized loan over an unsubsidized loan. If you want a Stafford loan, it's awarded based on the completion of the FAFSA.
Also, check your schools...some require the completion of the financial aid applications for merit aid consideration as well. BOTH of my kids had to complete the FAFSA AND the PROFILE. DS received ONLY merit aid...both forms had to be completed before his merit award was finalized. Check your schools.
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11-01-2009, 09:30 PM
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#3 | | Senior Member
Join Date: Dec 2005 Location: Dayton OH
Posts: 2,972
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To elaborate on Thumper, Even if you don't qualify for any financial aid, filling out FAFSA allows you to take a Stafford Loan (unsubsidized if nothing else). If you have no intention to EVER take out a loan, then don't bother.
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11-02-2009, 09:50 AM
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#4 | | Senior Member
Join Date: Mar 2008 Location: Maryland
Posts: 3,058
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Is there any possibility that your financial situation will change over the course of the next few years? Some colleges and universities will only consider you for aid in the future if you file for it the first time around.
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11-02-2009, 10:03 AM
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#5 | | Member
Join Date: Mar 2008
Posts: 348
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Erin's Dad, wouldn't there be a possibility to get some money if he goes to a school with COA of 50k that meets full need which in theory up to 22k if the school meets full need with no loan. I wouldn't say don't bother if he/she has no intention on getting a loan.
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11-02-2009, 11:21 AM
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#6 | | Member
Join Date: May 2007 Location: Silicon Valley, California
Posts: 682
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All the private schools my son is applying to require FAFSA to be filed in order to award merit aid. One asks for the Profile to be filed in addition. The 2 public schools he's applying to don't award merit aid and so FAFSA is not required there.
Check the financial aid page on each school's website to see what the school expects.
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11-02-2009, 12:51 PM
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#7 | | Senior Member
Join Date: Dec 2005 Location: Dayton OH
Posts: 2,972
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TTP, the OP could get some FA if the COA were 50K. I thought Thumper covered that. I was just adding that even in FA were not needed (like a COA below 28K) that the OP could still get an unsubsidized Stafford by filing.
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11-02-2009, 01:00 PM
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#8 | | Member
Join Date: Mar 2008
Posts: 348
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Got it. Thanks.
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11-02-2009, 08:14 PM
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#9 | | Member
Join Date: Jan 2009 Location: Where do you think?
Posts: 871
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Wow.
If there's not much reason for you to apply with an EFC of $28k, then there is NO WAY that I should apply with an EFC of $100k.
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11-03-2009, 01:39 AM
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#10 | | Member
Join Date: Jun 2008 Location: Sacramento, CA
Posts: 662
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OHKID: If your EFC is $100K, are you seriously thinking that you need aid?
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11-03-2009, 06:57 AM
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#11 | | Member
Join Date: Jan 2009 Location: Where do you think?
Posts: 871
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^I'd like to pay for college myself......
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11-04-2009, 12:18 AM
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#12 | | Member
Join Date: Jun 2008 Location: Sacramento, CA
Posts: 662
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That's admirable.  | |
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11-04-2009, 07:25 AM
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#13 | | Senior Member
Join Date: Aug 2004
Posts: 9,289
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OHKID, how do you plan to pay for college yourself? If your own personal student income is enough to do so, that would be admirable. If you would like to "pay for college" with need based aid, I don't think that is going to happen.
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11-04-2009, 07:50 AM
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#14 | | Senior Member
Join Date: Dec 2006
Posts: 2,186
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also remember that you can't get an unsubsidized stafford loan w/o filling in the fafsa. While you can only get $5500 max as a freshman, many parents who CAN afford to pay full freight want their kids to have 'skin in the game' and have them take out this loan.
you do not need to have ANY financial need to take out an UNsubsidized stafford loan
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11-04-2009, 04:01 PM
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#15 | | Member
Join Date: Jan 2009 Location: Where do you think?
Posts: 871
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OHKID, how do you plan to pay for college yourself? If your own personal student income is enough to do so, that would be admirable. If you would like to "pay for college" with need based aid, I don't think that is going to happen.
| I was going to try and do a merit scholarship and job combo to pay for school, and hopefully I can work about 20 hours a week. I'm still trying to look for big scholarships like that of U Alabama, LSU, and Ohio U that would apply to me assuming I can raise my ACT by 1 point and I am also working extra hard on apps to make myself look more desirable and make colleges fork up the cash to land me. I also got some cash stowed away for college, as well.
My only concern with not applying for FAFSA is that I may not be able to recieve merit scholarships from certain colleges if I refuse to fill this out. Otherwise, I would not fill it out without a hesitation in the world.
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