EFC = 46,000... what could happen?

[BandTenHut]

<p>University of Washington says our family EFC is $46,000 (barely less than 1/3 of our total income), so I assume other colleges will calculate roughly the same amount.</p>

<p>If I was theoretically accepted at Stanford and Yale, does anyone have any idea approximately how much aid I would receive from each school?</p>

[88888888]

<p>none ?</p>

[sueinphilly]

<p>maybe a few (think single digits) in token aid. You can always get a stafford loan (3500 for freshman).</p>

<p>Your family is in the top percentage of ALL income. Believe it or not 150K is not middle class.</p>

[thumper1]

<p>Actually…$150,000 is really becoming the middle class at this point in time. Many families where there are dual incomes (say a teacher and an engineer’s income, or two teachers who have been teaching for 20 or more years in some places) will earn a total in this range. I’m sorry, but these folks are NOT in the upper class…they just aren’t. It’s unfortunate that incomes as they are, dual family incomes, etc contribute to this. But there are many many families who now are in this situation who are perhaps upper middle class, but certainly not upper class. </p>

<p>But NO they would not qualify for financial aid.</p>

[emeraldkity4]

<p>Stanford and Yale may assume your families EFC is higher- that is assuming UW as a public school only uses FAFSA to assess income and assets and that Stanford and Yale utilize PROFILE as well as their own forms.</p>

<p>I read that $48,000 is still median household income, so I don’t think we have quite gotten to the point where 6 figures is common but I would agree that a household with two adult earners who are each making decent salaries are still middle class and part of the reason why so much income is even required, is because of the increase in housing and other living costs.</p>

[BandTenHut]

<p><a href=“http://www.yale.edu/admit/freshmen/financial_aid/index.html[/url]”>http://www.yale.edu/admit/freshmen/financial_aid/index.html&lt;/a&gt;&lt;/p&gt;

<p>How could I receive NO aid from Yale when Yale says:</p>

<p>

The contribution of aided families earning above $120,000 will average 10% of income.</p>

<p>Yale also is… exempting the first $200,000 of family assets from the assessment of need…</p>

<p>…most families with incomes between $120,000 and $200,000 will see cost reductions of 33% or more.

</p>

<p>If they clearly state that there are cost reductions for families in my income bracket (about $150,000, two working parents, sibling to attend college after me), how could I still pay the maximum cost?</p>

[sybbie719]

<p>

</p>

<p>exempting the first $200,000 of family assets from the assessment of need,

</p>

<p>With a 46k EFC, it is safe to say even with the 200k in come exemption, your family probably has vast assets (money in the bank, investment, home equity, etc).</p>

[Bballgirl]

<p>I have a question about EFC. According to FAFSA we have an EFC of $14600. I have a brother attending Duke. Does the $14600 mean combined for both of us or just that’s what my parents can afford for me alone? There is no way my parents can afford over $28000 for both of us. How does this work?</p>

[swimcatsmom]

<p>If you put 2 in college on your FAFSA the EFC is your EFC alone. </p>

<p>The EFC formula divides the parent portion of the EFC by the number in college. The student portion is not divided.</p>

<p>If your brother is already at Duke you should have seen his EFC go down on his EFC.</p>

[heyiloveyouNOT]

<p>omg ur family’s so rich… my parents make half urs… -_- yes u are not upper class but u certainly aren’t in need of financial aid… well unless u guys have like 5 kids or a huge loan or something…</p>