My efc is 8605 ! so do i qualify for financial aid ?

Question

My efc is 8605 ! so do i qualify for financial aid ?

Answer 1

not really.  if they are expecting the fam to contribute $8605, then you all must be making good money.  My efc was $0 because I have only one parent who makes less than $35,000

Answer 2

most likely. especially if the cost of education is estimated to be more than  $16,000.

depending on your school. most schools will offer financial aid in the forms of grants, work study, and student/parent loans.

most likely, you will be offered a combination of the three of these. your school should be sending you an award letter soon with the details of the type of aid they will be offering you.

grants are pretty much free money, but you usually have to show academic merit and be able to stay in school. but not all grants are for academic need (though 99% of them are).

for example, in illinois, i got a grant just for being a resident. that being said, most of the rest of them are all need-based.

loans are what nobody wants, but they help a lot. there are two types: subsidized and unsubsidized. pretty much, with subsidized, the government pays for your interest. for nearly all student/parent loans, you don't have to begin to repay them until you graduate.

work study is an agreement you have with the university. they'll give you a job on campus and you work a certain amount of hours a week. it's pretty much a guaranteed job.

since you show financial need, you should look into private/outside scholarships, as many of them require that you show financial need.

good luck!

Answer 3

Wow, I don't think you qualify. If you had a 3.0 GPA or above in high school then you do qualify for a PELL GRANT, that's about it.