<p>I just received my financial aid package from one of the schools I applied to, and in it is included a $1,500/year Federal Perkins Loan. I was under the impression that this was for low-income families, yet my family has an EFC of $24,000. Is this an error?</p>
<p>Our son received a Perkins loan at his school and our EFC was about 30K, so it seems the college has some latitude in how they disperse these loans</p>
<p>Same here though our efc was much lower. My kid had a laugh thinking we fell into the “extra needy” sector but after seeing the spending money some of her classmates had, she began to understand better where she stood in the lineup.</p>