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Why is my EFC so high?

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Replies to: Why is my EFC so high?

  • mom2collegekidsmom2collegekids Forum Champion Financial Aid, Forum Champion Alabama Posts: 84,219 Forum Champion
    Ok, AFAIK:
    -you need to enter equity, not resale value


    I suspect that the home is paid off, hence the $800k in assets comment.


    @e8f49sf is there a mortgage on the property that grands are living in?
  • EmpireappleEmpireapple Registered User Posts: 1,131 Senior Member
    mimmdc...its pretty much free. If one isn't willing to work and take out loans for the remainder that's too bad for them. My own son earned 10K last year while being a full time student. If one wants to make it work, they can.
  • austinmshauriaustinmshauri Registered User Posts: 7,541 Senior Member
    @Empireapple, $15,000 isn't "pretty much free." And the students you're telling to "thank a taxpayer" are more than likely the children of taxpayers. I get that you don't like the Excelsior Grant, but that doesn't have anything to do with OP's question.
  • mommdcmommdc Registered User Posts: 10,626 Senior Member
    If I'm not mistaken, the students who get Excelsior also have to stay in NYS for a number of years upon graduation. So if they work in and pay taxes to NYS, they will be contributing to the economy of NYS.

    "almost free" are different things to different people, @austinmshauri and others were just clarifying what the residual cost would be to a NYS student at a SUNY so they don't think they can go there for "free".
  • mommdcmommdc Registered User Posts: 10,626 Senior Member
    edited October 11
    Fees can be a significant cost at a college and are often not included in the tuition.

    At my S's college, fees comprise $4,000 of the yearly cost for example.
  • mommdcmommdc Registered User Posts: 10,626 Senior Member
    All I'm aiming to accomplish here, is to give helpful information to students, so they can make informed (financial) (college) decisions.
  • MaineLonghornMaineLonghorn Super Moderator Posts: 36,566 Super Moderator
    edited October 11
    MODERATOR'S NOTE: @Empireapple and @austinmshauri please move on. CC is not a debate society. When you find yourselves going back and forth, it means you need to drop it.

    Other users should keep in mind that I've deleted several posts. A lot of times, people look at a thread and say, "I don't see any problem - what's the big deal?" not understanding that moderators have had to clean up the thread already.
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