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How much difference does 1500 dollars make in my EFC?

2

Replies to: How much difference does 1500 dollars make in my EFC?

  • AlezzzAlezzz 135 replies14 discussionsRegistered User Posts: 149 Junior Member
    How it's work for need-aware U? If you need aid U decreasing your chances. But what is real determinant of this chances drop? Value you put on CSS Profile as that you can pay? Or result of U own calculations based on the income and assets provided in financial aid application form?
    For example if you applying to need-aware U and put too low value on CSS Profile as amount you can pay. Can it have negative effect on your admission chances?
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  • austinmshauriaustinmshauri 8427 replies305 discussionsRegistered User Posts: 8,732 Senior Member
    I'd put an honest answer for what you can pay. But if you enter a high number without the income/assets to back it up then it probably won't help. Colleges will still do their own calculation to determine what they think you should pay.
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  • AlezzzAlezzz 135 replies14 discussionsRegistered User Posts: 149 Junior Member
    edited December 2018
    In my case first choice of my son for EA was need-blind U so I didn't thought much what amount put on CSS Profile as that I can pay. Because that moment it didn't matter.
    But now he will apply to some need-aware U and I already can't change anything in CSS profile. Have it sense to send emails to those U with update that I ready to pay more than it's written in CSS profile?
    edited December 2018
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  • thumper1thumper1 73028 replies3179 discussionsRegistered User Posts: 76,207 Senior Member
    edited December 2018
    @Alezzz what YOU put in that field does NOT matter at need aware schools. The calculation the school makes at a need aware school will determine your need. You could put that you will pay $1,000,000 in that field on the Profile, but if your income and assets don’t support that when the school computes what THE SCHOOL thinks you can pay...it won’t matter.

    These schools want the proof that you really can pay that amount...proof would be sufficient income...or money IN the bank. It would not be just you saying you can pay.

    And if you have all that much money IN the bank, or a really high income, you won’t qualify for need based aid anyway.

    These need aware schools might not accept a student whose family income and assets can’t support the student’s college costs.
    edited December 2018
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  • lookingforwardlookingforward 32219 replies336 discussionsRegistered User Posts: 32,555 Senior Member
    edited December 2018
    Oh, these terminology confusions. OP. what your family can pay is not the Estimated Family contribution. The EFC is a term for what the colleges say you can pay, after they look at your fin forms. Or must pay, if they don't offer sufficient aid. Some of us still use it for what the Fafsa calculates ("Fafsa EFC," but that's an old acronym.)

    You're talking about something different. And in that category, what we "could" pay, I always put a very low number.

    As far as we know, the question OP refers to is background info only. Not a determinant for aid or admission. It helps with the large picture.
    edited December 2018
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  • AlezzzAlezzz 135 replies14 discussionsRegistered User Posts: 149 Junior Member
    In my case I put in CSS too low amount rather than too much. Can this harm my son's application? I can't change CSS now
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  • lookingforwardlookingforward 32219 replies336 discussionsRegistered User Posts: 32,555 Senior Member
    We explained this several times, several ways.

    There are lots of variants on Need Aware and in general, a highly and rightly qualified candidate is not rejected for what you put in that box.
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  • thumper1thumper1 73028 replies3179 discussionsRegistered User Posts: 76,207 Senior Member
    @Alezzz

    I’m going to try this again.

    The amount you put that YOU can pay has absolutely NOTHING to do with what the school determines you can pay. And it’s what the SCHOOL determines you can pay that matters.

    What you put in that field on the Profile does NOT get used when the school calculates your financial need. Your financial need will be based on your income and assets...not some random number you choose to enter that you “can pay”.
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  • oscar63oscar63 367 replies4 discussionsRegistered User Posts: 371 Member
    @austinmshauri Thank you for the info
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  • ItsComingHomeItsComingHome 31 replies9 discussionsRegistered User Posts: 40 Junior Member
    The colleges I am applying to award around 53k on average to international students. From my income, assets, etc, they can determine that maybe I can pay around 10k per year. The total cost of attendance is around 68k. Therefore, I need around 58k aid. I have heard people say that colleges don't give that much aid to students. How true is this?
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  • thumper1thumper1 73028 replies3179 discussionsRegistered User Posts: 76,207 Senior Member
    @ItsComingHome

    Don’t look at averages. They mean nothing because some folks get well above the average...and some folks get well BELOW the average.

    Are you applying to colleges that guarantee to meet 100% of need for ALL international students? If so, you do have a chance to get that aid if you are VERY low income and actually get accepted to the colleges. But a few things you need to consider.

    1. There are only five colleges that guarantee to meet full need for all international students AND are need blind for admissions. This means your ability to pay WILL be taken into consideration at most colleges when they review your application for admission. And the college determines your ability to pay...not you.

    2. The cost of attendance usually does not include discretionary spending money, books, transportation and health insurance. So...be sure to add those costs to your cost to attend.

    3. At some of the colleges that guarantee to meet full need for all...admissions for international student is highly competitive with some schools having 5% acceptance rates. Some have higher acceptance rates.

    4. Your application for admission as an international student will be reviewed alongside of other applicants from your geographic region. Some areas (Asia, for example) have an abundance of well qualified applicants.

    5. You absolutely should have an affordable college in your country on your application list.

    6. Your ability to work here will be limited while on a student visa.
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  • twoinanddonetwoinanddone 21933 replies14 discussionsRegistered User Posts: 21,947 Senior Member
    Colleges give what they can/want to`. If they want to give you $53k but you want $58, that's a problem. It's a problem my kids had, and they had to take out some loans, work, economize by living on the $53k

    It is very difficult if you aren't a US citizen to go to school in the US unless you can afford to pay at least $10k to cover your own travel, insurance, and incidentals. There really aren't that many schools who give 100% of the COA, except to football players.

    It's really no different than if you are a US student. There are many stories about students at 'meets full needs' schools who don't have enough money for food, warm clothing, books. The schools award them almost full cost of attendance, but the schools do expect the students to work, to figure out how to support themselves, or to take out a loan. Many student run out of money because they are sending some money intended for clothing and food home to their families.
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  • mom2collegekidsmom2collegekids 83917 replies1003 discussionsForum Champion Financial Aid, Forum Champion Alabama Posts: 84,920 Forum Champion
    edited December 2018
    the 9500 is towards my educational expenses i.e. out of the 68,000 dollars it costs for many private schools, I can pay 9500.
    It says " How much does the student expect to receive from the following sources to pay for educational expenses "
    Emergency expenses and personal expenses are not included imo


    No.

    They’re asking how much your family can contribute towards the whole “college experience”....which for an int’l would include travel abroad, medical insurance, and personal expenses.


    So...how much can your family pay EACH year for your: (fill in each one)

    Intl travel to USA in fall, plus travel home in spring (2 one way tickets): $
    Personal expenses: $
    Health insurance: $
    Tuition, room, board, fees, books: $

    Grand total from family: $


    The reason the grand total is needed is because that’s how families operate. If families look at family budget and think they can squeeze $12,000 to put towards Son’s education .....then that has to include all the major expenses associated with this.
    edited December 2018
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  • thumper1thumper1 73028 replies3179 discussionsRegistered User Posts: 76,207 Senior Member
    Again....the amount you SAY you can pay has absolutely NO impact on the amount the school will calculate they expect you to pay.

    In my opinion, just be honest. If your parents can contribute $8000, put that. Really...the colleges do NOT use this number to calculate your need based aid...at all.
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  • mom2collegekidsmom2collegekids 83917 replies1003 discussionsForum Champion Financial Aid, Forum Champion Alabama Posts: 84,920 Forum Champion
    Again....the amount you SAY you can pay has absolutely NO impact on the amount the school will calculate they expect you to pay.

    In my opinion, just be honest. If your parents can contribute $8000, put that. Really...the colleges do NOT use this number to calculate your need based aid...at all.

    And this is true. The fact that a family thinks it can only pay $8k, does not mean that the school will provide the rest.

    However, at a “need aware school,” if you say that you can only pay $8k, and the school determines that your family should pay $20k, then they may reject you because you’ve told them that you can’t pay $20k.
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