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Expected Family Contribution?

RedslpRedslp Registered User Posts: 26 New Member
My daughter is currently attending a Junior College. In two years, I expect her to be transferring to a 4 year college and my son to be starting at a 4 year college. When I fill out the Financial Aid Forecaster Application, it tells me my EFC is 2 million if I have only 1 child in school and 1 million if I have 2 children in school. Is that 1 million each child or 1 million total? Are their better financial aid packages for siblings going to the same school? (Obviously, my numbers aren't real.)
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Replies to: Expected Family Contribution?

  • BelknapPointBelknapPoint Registered User Posts: 2,886 Senior Member
    It's 1 million each child. I have heard that there may be some schools that offer sibling discounts (that is, a discount above and beyond what you would normally expect when you two kids in college at the same time), but I don't think it's very common.
  • thumper1thumper1 Registered User Posts: 63,516 Senior Member
    That 50/50 EFC for two kids is for,the fafsa.

    BUT for schools using the Profile...it's usually 60/60.

  • twoinanddonetwoinanddone Registered User Posts: 14,117 Senior Member
    There are some schools that offer a sibling discount. My daughter's school does IF they both go to that school. The only discount you get for both in school at the same time is the EFC divided in half on the FAFSA, and any grants a private school would offer, usually off the CSS.
  • twogirlstwogirls Registered User Posts: 5,861 Senior Member
    It would be 1 million per kid- 50/50 for the FAFSA. Schools that use the css profile will be a little different- closer to 60/60 as Thumper pointed out. Some schools use the EFC from the FAFSA but also require the CSS profile- my daughters school does this.
  • RedslpRedslp Registered User Posts: 26 New Member
    That embarrassing moment when you realize you used their, instead of there, in a forum about education. :P
  • CU123CU123 Registered User Posts: 1,297 Senior Member
    a very common error.
  • mommdcmommdc Registered User Posts: 8,976 Senior Member
    That million FAFSA EFC number means that you won't qualify for any federal aid, except unsubsidized loans.

    The actual cost of the school will be what they charge for tuition/fees/room and board, minus any merit scholarships.

    So if you don't want to pay full price at an expensive school, look at instate public options and schools where they could get merit.
  • thumper1thumper1 Registered User Posts: 63,516 Senior Member
    @mommdc read the last line of of the OP....the million dollars is NOT their real number. It is what they chose to,use for an example.

    But to @Redslp its pretty hard to give you decent advice when the sample you choose would put you totally out of the range for any need based aid...at all.
  • mom2collegekidsmom2collegekids Registered User Posts: 82,545 Senior Member
    <<<<But to @Redslp its pretty hard to give you decent advice when the sample you choose would put you totally out of the range for any need based aid...at all.
    <<<


    True

    If you gave us some estimates...such as:

    FAFSA EFC for one in college, $80k per year. FAFSA EFC for two in college, $40k per year.
  • RedslpRedslp Registered User Posts: 26 New Member
    Thumper1 thanks for the advice. Our EFC for one in college is $40k per year, FAFSA EFC for two in college is $20k.
  • twoinanddonetwoinanddone Registered User Posts: 14,117 Senior Member
    My daughter's school gives a $2500 grant to each sibling in school at the same time. There is also a legacy grant and I think you can stack them all. Not a deal maker or breaker, but every little bit helps.

    My friend went to the same college as her brothers. Her father bought them a house and they all lived in it while in college, rented out any extra rooms, saved money on traveling home, etc. My brother an I went to the same college at the same time and never saw each other.
  • thumper1thumper1 Registered User Posts: 63,516 Senior Member
    Our EFC for one in college is $40k per year, FAFSA EFC for two in college is $20k.

    So it’s $20,000 each kid, right?? With two in college.

    That’s fine for FAFSA...but if your kids go to Profile schools...they will likely expect $24,000/$24,000.
  • PheebersPheebers Registered User Posts: 575 Member
    Agree with above about 50/50 vs 60/60 for Profile schools, but I want to add something -- a lot of Profile schools meet 100% need, whereas at FAFSA only schools it's very possible you'll be gapped. So, the difference in percentages may be irrelevant where your bottom line is concerned.

  • thumper1thumper1 Registered User Posts: 63,516 Senior Member
    There are several hundred schools that use the Profile. Only a fraction of those schools meet full need for all accepted students.
  • PheebersPheebers Registered User Posts: 575 Member
    Last I looked it was about 100 schools that meet full need, so it's a large fraction :) My point was actually that FAFSA vs Profile percentages aren't the whole story. I should have been clearer, sorry.
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