<p>yes…FAFSA EFC is somewhat meaningless for many who have EFCs beyond Pell. Yes, you can get work-study and loans, but not fed grants. And some richer schools will use FAFSA EFC (or CSS Profile) to determine any insitutional grants that they might give.</p>
<p>Your child applied to MIT. which is “full need” as how THEY define your need. It’s unknown what MIT would determine after using CSS Profile. It may determine that your family contribution should be $20k per year (or more). Who knows…MIT isn’t super with aid. Don’t know if MIT includes loans in FA packages, but it they do, then there could be 5500 in loans as well…and 2500 in work-study. </p>
<p>the full need schools often have a “student contribution” of about 2500 that they expect the kids to earn over the summer (which I think is to cover transportation and books). </p>
<p>And the work-study is to cover “personal expenses” . Schools don’t want to give grants to pay for a kid’s toothpaste and shampoo. ;)</p>
<p>*if DD gets any of the many small private scholarships we have applied for that money can go for room, boards , dining or books? *</p>
<p>Depends on the school. At Bama, your D could apply those dollars to room, board, etc since Bama isn’t giving grants to you…it’s giving merit. Another school might use those private scholarships and put it towards your need…not reducing EFC.</p>
<p>*Our out of pocket costs need to be paid up from each semester or how does that work? *</p>
<p>Many schools let you set up a monthly payment plan with a small upfront charge to set that up. I think Sallie Mae or some fed plan also has some monthly payment plan. Bama has a “Bama Plan” that is interest free that you pay your balance over the semester (or over 10 months for the year). I’m sure other schools have a similar deal.</p>
<p>*I am pretty certain BAMA will be our best bet but now even worrying about affording that. If only we had lived in a state with lower NMF scores 
*</p>
<p>If your D takes out the full Stafford loans and works over the summer, your out of pocket costs could be almost nothing.</p>