<p>Sorry, wasn’s sure whether to post this to this thread, but my question is regarding BC finaid Can someone on this thread help explain efc and demonstrated financial need as it pertains to BC?</p>
<p>My d was accepted to BC. Her financial aid consisted of $3,500 subsidized gov loan (an assumed $2,000 unsubsidized gov loan) and $2,500 work study (total $8,000). I called the financial aid office and was told (not by the finaid officer, but the person who answered the phone) that my efc was calculated at $35,000. After about 5 minutes, she could not explain to me why my demonstrated need of $20,000 (cost of attendance = $63K less identified aid $8K, less efc $35K, leaving $20K) was not being met. Rather, she advised that I take personal loans to cover the difference.</p>
<p>I am struggling with the fact that supposedly BC meets 100% of demonstrated financial need – how is taking private loans “meeting need”? So in theory, if my efc was $0, could they just say cover the need with private loans? Or is it, even though my efc is 35k, the fin aid package is based on my assets which aren’t reflected in the efc – but the efc is suppose to reflect that, I thought.</p>
<p>I will speak with the finaid officer on Monday – but was hoping somebody could shed light on this before I call. This would be easier to understand if BC did not meet 100% financial need – and maybe they don’t.</p>
<p>Thanks for any insight.</p>