<p>I’m completely new to the process and I’m getting really nervous to see my financial aid packages.
Since private schools say they use their own institutional methodologies to calculate the EFC of each family, does that mean that EFCs for private schools can be “discussed” or “appealed?”
If I can talk to the financial aid offices of the private schools I was admitted to and show proof that the EFC from the FAFSA is really unreachable for my family, will they reconsider? Does the EFC from private schools usually come out higher or lower than that of the federal government?
Help!!! Thanks a lot.</p>
<p>Many private schools also use the financial information from the CSS Profile or their own financial aid form. Remember that the FAFSA EFC really only deals with the dispersal of FEDERAL monies…and that is a drop in the bucket for private college costs. Colleges using institutional methodology can use the financial info any way they choose to arrive at what they expect your family to contribute. It is very unlikely that you can get them to use the FAFSA EFC if theirs is significantly higher, because that means that they are using assets in their calculation that the FAFSA doesn’t use (like home equity, non-custodial parent income and assets, etc). In most cases, the EFC from the institutional methodology is higher due to the increased numbers of assets they consider for that. Profile really doesn’t compute an “efc” per se.</p>
<p>If you say the EFC from the FAFSA is unreachable, you would have to demonstrate why. If it’s because your family won’t pay that amount, that will not work. The only reasons I can see for a school adjusting EFC is if the student’s family has some dire financial situation that affects their finances (parent loss of income, very high medical bills, etc) and therefore makes the info you put on your FAFSA now inaccurate.</p>
<p>If you want financial aid that ONLY considers the info on the FAFSA, you should apply to FAFSA only schools.</p>
<p>My impression is they can’t change FAFSA EFC unless there are errors. ( We did have one school change EFC- which was a surprise when I checked online- but it was because of an error that they corrected after they received our tax forms)</p>
<p>Looking for outside merit aid/ school based merit aid those are your best bets. ( Some schools may be need based only and still have merit awards- because of outside scholarships that are designated for the schools undergrads-however in some cases you won’t know until you are attending)</p>
<p>I will also say- since you are female- women’s colleges seems to have good aid for students, I know people who never thought their kids would qualify for any aid- as they make 6+ figures and they have very nice packages- & for more than freshman year too!</p>
<p>But our experience is- unless there was an error- or something really unusual that didn’t show up- the school has already given you the best offer.</p>
<p>thanks for the help. its just that im a little worried. we dont own a home. but my dad also owns a trailer by the beach which he lives in most of the time because he has severe asthma.
he cant really be in the city (which is where we live and where my mom works).
is the trailer going to be considered as an asset too? or an expense? because its not even fully paid yet and it still has a mortgage. </p>
<p>and yes- i did apply to womens colleges. i got accepted to smith and mount holyoke which im very happy about. im just hoping they can be understanding. and that my EFC for private schools wont be way higher than my fafsa EFC.</p>