<p>my FAFSA EFC # is 00542
does that mean $542?
if it does, it is a pretty low number…
does it affect the chance of me getting into colleges, especially privates in the east coast such as Boston University. I applied there EDII.
thanks for reading guys!</p>
<p>Yes, that is your FM EFC. It simply tells BU that you will be eligible for Pell and SEOG grant funds and subsidized student loans. You will also need to file the CSS Profile form to be considered for BU funds. BU is a school that is “need sensitive” (regardless of what they say) and if you are admitted to the School of General Studies, that may be all you will get, leaving a gap of around $41,500. If your resume puts you in the top 20% of the applicant pool, that gap may be reduced by $25,000 if you are accepted into one of BU’s academic divisions. A lot hinges on your Profile and merit. Best of luck, Boston is a great place to go to college. Many options await you.</p>
<p>In my opinion, someone with an EFC of $542 should not be applying ED. Particularly not to Boston U. They do not guarantee 100% of your need and make it pretty clear about that. Their web site is very explicit about how they give out their money, and unless you are way up there in stats, you are likely to get gapped. Even if you are tops in the applicant pool, you have put yourself in a dangerous position. Why should BU give you the best merit deals since you are already committed to go there if accepted and have to go through a heck of a lot of trouble to get out of this commitment. Better to give the money to someone else RD who needs to be wooed a bit more. Also, you cannot compare packages with other schools, since you need to withdraw your app from them. Some will just drop you from consideration when you show up on the ED accept list. </p>
<p>IF the schools you applied to are need blind, your chances will not be affected by your finances. For schools that are not need blind, who say they are need aware, your chances may be affected, especially if you are borderline in what they want. IF you are a top applicant, highly desireable, such schools tend to be generous since they practice enrollment and financial management where they will not accept some high need kids so that they can pay for those they accept and woo them. </p>
<p>What you should be more concerned about given your low EFC, is which schools will give you 100% of need. If a school does not, you are in danger of being gapped. BU is in that category. Even schools that guarantee 100% of need may provide their aid in loans and workstudy that may not be acceptable to you or advisable for you to take. In my opinion, low EFC kids need too much flexibilty to be locked in ED. I really suggest you call Bu’s financial aid office and ask them straight out if what you are doing is not a smart thing. Hopefully you get a straight talking counselor there who can give you enough info that you can decide whether to keep your app in ED status. Unless you have some cash cow on the side, you are risking not getting enough money for college.</p>