Financial Aid... Did i qualify?

Dee Depung: you are qualified for financial aid. student loans (and maybe Federal Work Study ) are financial aid. your EFC of a 20,000 is a very, very huge number.A student’s financial-aid eligibility is the difference between the expected family contribution (EFC) and the Cost of Attendance (COA). The expected family contribution is calculated from information that the family submits on the CSS PROFILE application. Eligibility, then, is determined as follows: COA minus EFC equals Eligibility (“financial need”). Sample Financial Aid Awards Example. Elena’s estimated family contribution is $20,000. Her financial eligibility is determined by subtracting $20,000 from the Cost of Attendance. Elena has also been awarded a merit scholarship, which is a part of her financial-aid award.Eligibility Determination: Cost of Attendance ($11,000) Minus Contribution ($20,000) Financial-Aid Eligibility (-$9,000). you may also consider all or a combination of the following no! n-need-based resources to assist in meeting their family contributions: an additional $ 2,000 Unsubsidized Direct Loan; a PLUS (parent) loan; and/or a monthly payment plan (to divide semi-annual payments into smaller monthly amounts). These resources may be used to cover all or a portion of the family contribution....Show more