@KaMaMom - I totally take your point and am glad you made it! This certainly doesn’t eliminate the EFC, but for the portion the student is expected to contribute the difference between loans and grants (even when student loans were capped at $20,000 as NU did prior to yeasterday’s announcement) could easily be the difference between successfully launching as an actor versus needing to work a survival job full time to pay down debt.
In our D’s case, this would have saved our family $20,000!