An important concept I need to understand

Consolation
Sat, 21 Aug 2010 18:00:37 +0000

My family is in the upper bracket, so the EFC would probably be around 20-25k a year. So, at an university like this, the debt could be 100k by the time I graduate.



Assuming that your EFC is $25K, if you are admitted to D they will put together a financial aid package for you that is a combination of grants, work-study, subsidized federal loans, expected summer earnings, and so forth to cover the remainder of the total COA. They will expect your family to pay the $25K EFC.

“EFC” does not equal “loans” unless your parents have saved no money at all towards your college education, or unless they do not plan to contribute to the cost from current income.