Ohio State University and an EFC of 0!!?

Question

I just finished my financial aid application and it said i have a EFC of 0. To my understanding this means my estimated family contribution is zero which means i should get good aid :). But just curious if anyone that goes to osu with an efc of 0 what exactly i might still have to pay. How much does the FA cover for you.

I don't even know if I am even accepted yet which sucks, I applied past the deadline for next fall and it said my acceptance will be off a competitive basis... (I'm transferring from Columbus state) all this is of course irrelevant to my first question though...

Answer 1

Financial aid doesn't necessarily mean that you've been accepted.  It's just means that the financial aid office has received and examined your financial aid info.  Your EFC of 0 might help get you a little more money in the way of grants.  Most likely, you'll have to either take out student loans or pay out-of -pocket.  Ohio State (and most schools nowadays) are pretty stingy when it comes to giving money to students for academic purposes.  The only way you're going to get any significant amount of money in scholarships or grants from them is if your transfer GPA is higher than 3.5.  Go to fastweb.com and you'll be able to research scholarships from all of the U.S.  I'm currently attending Ohio State, so I've already been through all of the hassle.  Good luck to you!

Answer 2

An EFC of 0 means if everything on the fafsa is correct and you meet about a million other requirements like good GPA, no defaulted student loans, not too many attempted hours, and on and on.. you will qualify for $4,731.00 in Pell grant a year going full time.  (half in fall 08 and half in spring 09)

You might also get offered FSEOG, a Federal Work Study job.  Also Ohio state grants if you applied early enough and are a resident of that state.  You might get offered Perkins loan and a Subsidized Stafford loan and any institutional grants as well.  (again if they have them and if you applied early enough).

Congrats, any free money is good money.  This book details the amounts and details of each.  Be aware an EFC of 0 does not necessarily mean everything is paid for.... that depends on how expensive the school is.