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If my efc changed from 14856 to 20232 will i lose my financial aid? |
If my efc changed from 14856 to 20232 will i lose my financial aid? Your EFC is what determines how much fin aid a school will grant. I would expect if your family contribution increased your fin aid would go down. How much is a question I would ask either the school fin aid office or a loan officer. It may not be a huge drop. I don't think you'll lose it all together though. Best of luck. Part of it I guess because now your family can afford to give you more money. no you should not Wow, unless you plan on going to Harvard or Yale, or any other school that has semester tuitions of $15,000+, with such a high EFC you won't be able to get much financial aid, if any. Grants will be the first to go since the cutoff on them is at 4100, so it's possible that subsidized or (more than likely) unsubsidized loans might come into play here. Although even then those aren't a guarantee considering the high EFC. Maybe bank student loans will work best. It's unfair but that's what happens with such a high EFC. The government has determined that your family makes a high amount of money each year, at least enough to cover up to your designated EFC number each tuition semester, which in itself is a rough translation of dollars. You probably won't receive as much financial aid in the form of need-based grants. However, you will still be eligible for, at the very least, unsubsidized Stafford Loans (interest will accrue while you are in school). These loans are offered to EVERYONE who is eligible for financial aid, regardless of your EFC or credit history. Generally, EVERYONE is eligible for some type of financial aid provided that they are: a U.S. citizen or eligible non-citizen, have a Social Security number, are registered with Selective Service (if required), have a high school diploma or a GED, are enrolled and are working towards a degree at an eligible school, don't owe a refund on a federal grant, aren't in default on a federal student loans, and don't have certain drug convictions. I found interesting scholarships & easy works here. Good luck! http://all-student-loan-consolidation.bl... |
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