Does high % of income deferral effect EFC under CSS/ PROFILE

thumper1
Fri, 30 Nov 2018 21:30:49 +0000

@parentsofsboys

Your child must have unmet financial need to get subsidized loans. So…if your EFC is $30,000…and the cost of attendance is $30,000…or less…your kid won’t get a subsidized loan.

If the college costs $50,000, and your EFC is $30,000 and your kid gets a $20000 scholarship, again…no unmet need.

If the college is $40,000 and your EFC is $30,000…and your kid gets no other aid, that would leave $10,000 in unmet need…and for freshman year, your kid would get $3500 in subsidized loans.

One other thing…YOU can pay the interest annually…it’s really not a huge amount…so you would be subsidizing the loans for your kid. That’s what we did.