Stuck in a financial dilemma...

Brendan1225
Fri, 19 Apr 2019 01:21:34 +0000

I just got my financial aid package for next year and the school gave me MUCH less than what I was offered this year. Since my EFC went from around 2k to about 7k, I lost my 5k Federal Pell Grant. What doesn’t make sense is that even with an EFC of 2k, my parents in reality actually helped me pay around 5k this year. Now that my EFC has gone up to 7k, they will most likely have to help me pay around 11k this year. Does this even make sense considering they make around 70k a year? Thats about 16% of their total income, what should I do? Additionally, I always see people take out huge loans for colleges, but my college only limits student loans to 6.5k a year, where do other students even get more loans if they needed to?