<p>If you have to split money parents have set aside to pay for college (with other siblings), yet need financial aid to pay for expensive schools, how do you go about doing this? Do you ask for it - or don’t you and work for scholarships instead?</p>
<p>I’m not sure I understand your question. You can always apply for FA, but depending on where your parents have put the money to pay for you and your siblings college, it will have different impacts on your calculated need. By scholarships, do you mean from the colleges you are going to apply to, or outside scholarships?</p>
<p>If I understand your question correctly, you’re asking if you should ask for financial aid (even though your parents have money saved for you to split with your siblings) or if you should just work on outside scholarships instead. entomom is right–you can always apply for financial aid at your school (and you should), but you’ll have to report the money your parents have saved, even if it’s meant for you and your siblings. The best way to work this situation is to talk to the financial aid officer at your school and explain the situation.</p>
<p>Regarding scholarships, you should definitely apply for outside scholarships regardless of whether you receive financial aid. When you apply to colleges, you’ll either be automatically entered for institutional scholarships or have to fill out an additional application. But you can always apply for outside scholarships starting now. If financial need is critical for you, then you should definitely mention it in your scholarship applications.</p>
<p>Your EFC (expected family contribution) will be determined based on parental assests and income and student assets and income. Other factors also come into play, but those are the main ones. Unless your parents set up the “money set aside for college” in special college accounts under each siblings name, the college you attend will expect that all of that money is available to pay for your college.</p>
<p>I would suggest you and your parents read the book “paying for college without going broke 2007” (or the 2008 version when it comes out) and run some numbers through these estimate calculators <a href=“http://www.finaid.org/calculators/finaidestimate.phtml[/url]”>http://www.finaid.org/calculators/finaidestimate.phtml</a></p>
<p>I just looked at some of your other posts, are you asking about FA and scholarships for this fall or 2008? That will make a lot of difference, as deadlines for most outside scholarships for this year have passed, and FA is given somewhat on a first come first served basis, so you would be likely to get more loans applying now than had you earlier in the year.</p>
<p>I’m just asking in general- it looks like I’ll be going back onto the admissions trail for fall (possibly)…I have learned alot now about selling myself. </p>
<p>Thank you for your input! </p>
<p>And Proud Husky’s analysis was right- I was talking about for the EFC…</p>
<p>If something happens to change your economic status what do you do?</p>
<p>I’m not sure if this is what you’re asking, but if something happens to change in your economic status (i.e. unusual circumstances) you can file a Revision Request for Change in Financial Situation with the financial aid office at your school.</p>
<p>Cool! Thank you.</p>