If my efc was zero then why would my financial award not be enough to pay for my tuition.

Question

If my efc was zero then why would my financial award not be enough to pay for my tuition.

Answer 1

It might.  If you go to a very inexpensive school, meet your state deadlines, and if your school is more than "cheap" are willing to take out student loans and have parents willing to take out PLUS loans.

Many folks don't realize student loans are "finanical aid" too.

Answer 2

Financial "aid", as the name implies, is used to ASSIST students with the cost of attendance at a college or university, but aid rarely PAYS the cost of attendance.

The fact that your Expected Family Contribution is zero does not mean that financial aid is going to provide you with a free education. The amount of money that is available to provide financial aid is limited, and the system is designed to help as many students as possible. Almost all US college students receive some form of financial assistance to attend school.

Here's another thing to keep in mind: You need to keep the cost of your educational choices in mind. The typical aid package might provide sufficient funds to pay most of the cost of an education at a local community college or inexpensive state university, but that same amount of money might represent only a modest contribution to the cost of a more expensive school, like a private university.

If you and your family have little or no funds to contribute to the cost of your education, that means that you have an even greater responsibility to be an education bargain hunter.

Honestly - Do you believe that the federal aid system should be designed to pay for students to pursue a "free" education at any school they should happen to choose?

Do you think the government should provide sufficient food stamps to allow those who prefer to choose lobster and champagne?

The term "Expected Family Contribution" might be a bit confusing, because it suggests that if your family is expected to contribute nothing, that the entire cost is paid for you. That's not how it works. An EFC of zero qualifies you for the maximum available amount of aid, but it is extremely rare for that amount to cover the entire cost of attendance, unless the student is enrolled at the cheapest available school.

Federal financial aid represents taxpayer money that is being spent to help US students who wish to pursue a higher education. In 2006-2007, students received $97.1 billion dollars in financial aid. That money went to three-quarters of all undergraduate students. I tend to believe that that's a pretty generous amount of taxpayer assistance. Don't you agree?

Sorry for the confusion. You should be sure to maximize the amount of federal aid that is available to you, and your parents should definitely investigate the federal government's PLUS (Parents' Loan for Undergraduate Students) loan program.

Good luck to you!