Important Financial Aid question! help!

cptofthehouse
Thu, 24 Mar 2011 09:55:02 +0000

List your schools and what it would cost to go there. List what awards you have gotten and subract from that figure. That is what you currently have unfunded.

That your EFC is $5555, puts you out of PELL level. That means that the only money guaranteed are the STafford loans, $5500 for freshman year unless your parents are turned down for PLUS in which case you can borrow another $4000. That and whatever else each school wants to give you.

You certainly can contact the schools and ask if there are any specialty scholarships available and look at FASTWEB and local opportunities too. However, I recommend you get a financial back up plan, in case what you have available is all you are going to get. Discuss with your parents what they can help pay. Also look for some local state schools and low tuition options.

The income that generated your EFC is that for 2010. If your father is now employed and in better financial shape right now than he was for all of 2010 is not going to help you in terms of special circumstances. My understanding is that special circumstances due to unemployment are used when a family with a certain EFC due to prior year employment is current unemployed so that the current income has dropped unexpectedly. In such cases, the financial aid counselor can make judgment adjustments to the EFC.