<p>For a real-life example: with an AGI of $106k, our family had an EFC for S1 (rising senior in college with assets in his name for the coming year) of $23,259 and an EFC for S2 (rising freshman) of $21,224, for a total EFC of $44,483. In full disclosure, DH and I have a fair amount of non-primary house assets, as DH is self-employed and neither one of us have ever had employer-sponsored retirement plans. 1/4-1/3 of family income would have been a gift.</p>
<p>Specifically to Villanova and with those EFCs…for S2 the FA package included: $5500 in a combination of unsub and sub Stafford loans, $3000 in work study, and $20,030 in “Villanova Grant”. So for a COA of $53,150, we are left with $24,620. Technically a gap of less than $3400. We know, of course that our EFC will double next year when S1 has graduated and left the “household” and so expect to receive no need-based grant in the next three years.</p>
<p>S2’s stats were good enough to get into Villanova EA, but we never expected any merit aid, as it is limited and only offered to exceptional applicants and primarily URMs.</p>