brid

I have a financial aid question. Does your expected family contribution change if you transfer to a more expensive school? I'd really like to transfer, but the school I am interested in costs $10,000 more per year than my current school, and my family can't afford to pay that much more.

brid

I forgot to add -- right now my aid consists of a PLUS loan and a Stafford loan. I don't have any aid from my school, or scholarships, etc. I'm not sure if that matters.

swimcatsmom

Your FAFSA EFC does not change whether your school costs $10,000 a year or $40,000 a year. However this does not necessarily mean you will get more aid. It depends on the school and whether it is one that promises to meet full need.

If you currently only qualify for loan aid then, as far as federal aid is concerned, more loans and perhaps work study are probably what you will qualify for at the new school. Federal loans such as the Stafford have maximums based on the year of your schooling ($5500 for freshmen, $6500 for sophomores, $7500 for 3rd year and up). Your parents could get more PLUS loans. Whether you get any other aid depends on whether the school has it's own institutional need based money that they award.

brid

Thank you, swimcatsmom, that helps a lot. I think I understand now.