Single mom EFC question

<p>I am a single mom who is unemployed ( laid off). My last two year's tax returns shows an income of 99K. How does this play into the FAFSA outcome for EFC? daughter wants to go to OOS school (Penn State University Park - accepted)! I hear PSU is not generos with their FA packages. </p>

<p>Any input appreciated.</p>

<p>It is last year's income that will be used to calculate your EFC for 2012/ 2013. </p>

<p>However, EFC should be looked at as the minimum the family would be expected to pay at most schools (without significant merit scholarships). Most schools (Penn State -U.P. included) do not meet full need, meaning that families will likely see a gap between EFC and what they are required to pay. </p>

<p>The financial amounts are different on this thread, but the information about EFC, being laid off, and requesting a professional judgement may be useful: <a href="http://talk.collegeconfidential.com/financial-aid-scholarships/1283001-efc-36k-reasonable-not.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/financial-aid-scholarships/1283001-efc-36k-reasonable-not.html&lt;/a&gt;&lt;/p>

<p>Also, note that your daughter is more likely to get better financial aid from her own state school. Not only will the tuition be cheaper, but many states have scholarship or financial aid for instate students.</p>

<p>Most Penn State FA is reserved for in-state students. If you feel you can pay the $40K/year for an OOS student then fine. If not definitely look in-state where the schools are likely less expensive or for schools where your D will get some merit aid.</p>

<p>*daughter wants to go to OOS school (Penn State University Park - accepted)! I hear PSU is not generos with their FA packages. </p>

<p>*</p>

<p>It will hardly matter what your EFC is if your D is OOS for PSU. PSU isn't going to give your D much at all. You'll be expected to pay all or nearly all of the costs. </p>

<p>Keep in mind that OOS publics charge high rates for a reason. It wouldn't make a of sense for them to then just cover those high costs with need-based aid. </p>

<p>Have you used the NPC calculator on PSU's website? If not, you should.</p>

<p>If you can't pay the costs of PSU, I hope your D has a financial safety.</p>