Hi everyone,
I was just wondering if my EFC would increase if I upgraded my dorm type in a school that meets 100% financial need.
No, your EFC (if you are referring to the one calculated by FAFSA) will not change if the cost of the college increases. The EFC doesn’t ask how much you are spending, just what you (and parents) have earned and have as assets.
If your school calculates an EFC based on its costs, sure, it might change if you pick a more expensive dorm or meal plan.
Your EFC is based on your in me and assets…not on the type of dorm you live in…or the cost.
In terms of the cost of attendance…most schools have a dorm type they include in that. If you choose to upgrade YOU pay the difference.
Ok. According to my school, financial aid is equal to cost of attendance minus EFC, so I was wondering if the dorm type would increase financial aid or money expected that I pay?
I’ll try again.
The cost of attendance is usually set based on a certain housing price. If you choose something more costly, you will be paying the difference.
In other words…if the cost of attendance is based on living in a double room in a traditional dorm…and you choose to live in an apartment or in a single room…YOUR cost to attend the school will be higher because those are more expensive housing options. The schools “cost of attendance” for the school won’t change…if you make a choice for a more expensive option…you will be paying the difference.
Oh I see. Thanks so much for the clarification @thumper1 .
It can make a difference if you choose between on-campus & off-campus – many schools have different policies for off-campus housing, usually adjusting COA downward, sometimes by a lot. But within the school they won’t allow need based aid to be used to finance a nicer/pricier dorm. So in most cases that COA is going to reflect the standard or average cost for residency in a double in the whatever represents the most basic dorms setting.
There is some flexibility depending on meal plan options – the COA generally includes the cost of a full meal plan but some colleges allow first year students to opt for a lesser plan, and allow advanced level students to opt out of the meal plan altogether. If you can cook and get into a dorm with cooking facilities, sometimes that can be a net benefit, even if the room fee is higher than the basic level plan.
Yes…some colleges have a different cost of attendance for off campus housing. BUT again…the college sets that COA based on what they think it will cost.
So…if you chooose to live on 5th avenue in a penthouse apartment with a doorman, instead of sharing a one bedroom in Brooklyn with three other people…the school isn’t going to adjust THEIR COA up…you would be paying the difference.