<p>Based on your experience, can you tell us how far or close is the actual payment requirement compared to the EFC computed in January? real examples?</p>
<p>No correlation whatsoever. It depends entirely on the school. </p>
<p>Your FAFSA EFC determines eligibility for federally subsidized aid. If you qualify for a Pell grant, then I think it’s guaranteed you will get what you qualify for. If you qualify for a Stafford loan, then you are guaranteed that as well. Everything else simply is discretionary… colleges can offer additional subsidized (Perkins) loans, but they don’t have to; they can offer work study, but they don’t have to; they can offer their own grant funds, but they don’t have to.</p>
<p>FYI: We’ve had FA packages from 3 of D’s schools so far. The only ones that have come anywhere near (without loans) have been the state schools, but the tuition is lower, anyway. At the lower cost state school it was actually lower than EFC with loans.</p>
<p>The one LAC we’ve heard from was $8,000.00 higher than our EFC without loans, $2,000 higher with loans.</p>
<p>I was thinking that the actual payment required from the family would be somehow +/-20 % (more or less) of the EFC…
You are saying that we can’t have any idea till we get the actual offer letters from the colleges… That is stressful (for parents)</p>
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<p>OK who makes Mallox? Definately will look to making a common stock purchase!! Nothing but stress. Will my kid apply to the right schools?..Stress relieved in December. Will my kid get accepted??? Stress relieved in March. Will we be able to afford it??? Stress relieved in April. Will there be housing? Stress relieved in May. Will he get a summer job to help build up some additional spending money? Stress relieved in June. Will he get a psycho goth emo druggie manic roomie? Stress relieved in August.</p>
<p>Was much easier just worrying whether thay would stick their fingers in electric outlets when they were 2, or would swallow the eye of their stuffed animal and your back was turned.</p>
<p>Last year, our EFC was $4042.00 (family of 8) ~ I know it isn’t much, but we didn’t have to pay a dime, except we bought his books. My son was offered a great package from WVU with our EFC included as a PLUS Loan, which we declined. He had a small subsidized student loan of $2050.00 ~ </p>
<p>After he declared his major after his first semester he was given a department scholarship of $1000.00 in addition to his package. During 2nd semester, he was able to apply for Mining Engineering Scholarships and was awarded $1500.00/semester for his second semester. This money was sent to him as a refund. He had more money than needed, so they paid $313.00 on his student loan and now only has $1708 to pay off. He had an outside scholarship of $500/semester. Make sure you check out your department scholarships once you major… Depending on your field of study, your college may have alot of money to hand out once you make the commitment.</p>
<p>WVU has a ton of money waiting to give out for the mining engineering program. He has had numerous co-ops that he can apply for in his field. Fortunately we live right in mining country, so he would not have to travel far. Most of his co-op opportunities will pay for his housing also, especially those in other states. But again, it all depends on what you are majoring in.</p>