EFC/Financial need question

[Mwfan1921]

@cshell2

@Mwfan1921

@ALewis3

My mom said she’d co-sign the loan or whatever it’s called. She can afford it. She just won’t actually help pay it off. By financial aid page do you mean FAFSA or NPC page on the college site?

You don’t need your mom to co-sign the $5,500 loan. That is all you can take out as a freshman, any additional loans would be on your parents (either Parent Plus or private).

You said ISU COA is $36K and you received $8,000 merit scholarship from them, is that correct? That leaves $28K. What estimate did the NPC give you?

Your net cost to attend ISU is unlikely to get close to your FAFSA EFC…your total cost is likely to be greater, perhaps significantly.

NPC is giving him a $7500 grant in addition to the 8K scholarship, but he was told not to trust the NPC by Iowa State…which is pretty sucky of them to have an inaccurate calculator.

Got it now thanks.

So even with that $7,500 grant (perhaps that could still happen once they receive your FAFSA filing, but perhaps not) you would still have around $20K to pay…how will you be able to pay that? And that $20K doesn’t include travel expense, other living expenses, incidentals, etc.

And yes, an inaccurate NPC certainly isn’t helping matters.