What happens if parents can't pay EFC?

If your parents or guardians refuse to pay for college, your best options may be to file the FAFSA as an independent. Independent filers are not required to include information about their parents' income or assets. As a result, your EFC will be very low and you will probably get a generous financial aid offer.

How can I pay for college if my EFC is too high?

In general, you should receive a more substantial financial aid package with a low EFC, whereas a high EFC means you might need to resort to unsubsidized or private student loans to cover costs your family can't afford.

What if my parents are rich but won t pay for college?

You have multiple options to consider, including federal financial aid, scholarships, grants, a job and student loans. Although paying for college by yourself is a huge financial undertaking, it's possible with enough research, hard work and planning.

What happens if your parents don't support your FAFSA?

The application explains that if your parents don't support you and refuse to provide their information on the application, you may submit your FAFSA form without their information. However, you won't be able to get any federal student aid other than a Direct Unsubsidized Loan—and even that might not happen.

Do you have to pay the EFC?

Not necessarily. Colleges might not be able to offer you a financial package that meets your full need. In these cases, your family will need to cover the gap (as well as pay the EFC) out of pocket or with scholarships.

New FAFSA form causes confusion for parents and students

Can I argue my EFC?

A financial aid appeal can either go two ways: it can be denied or approved. If an appeal is approved, the financial aid administrator will make changes on the student's FAFSA. From there, a new EFC will be generated, which will result in a new financial aid package.

Why is my EFC so high with no income?

There are some special circumstances (like if there's a large amount of money in a savings account in the dependent student's name) in which your EFC might be high even if your family's income isn't.

At what age will FAFSA disregard parents income?

You can only qualify as an independent student on the FAFSA if you are at least 24 years of age, married, on active duty in the U.S. Armed Forces, financially supporting dependent children, an orphan (both parents deceased), a ward of the court, or an emancipated minor.

What can I do if my parents won't pay for college?

Can I apply for FAFSA without my parents income?

You need to be 24 years or older.

If you're 24 already or you're turning 24 by January 1st of the school year you're applying for, you can submit your form as an independent. You won't need to include information about your parents on the FAFSA form.

Will I get financial aid if my parents make over $400 K?

Don't worry, this is a common question for many students. The good news is that the Department of Education doesn't have an official income cutoff to qualify for federal financial aid. So, even if you think your parents' income is too high, it's still worth applying (plus, it's free to apply).

Will I get financial aid if my parents make over $200 K?

Even if your family makes multiple six figures a year, you can still get financial aid. That said, not financial aid is created equal. Ideally, you want free money, or grants not loans.

How to get financial aid if your parents are rich?

While you may not be awarded need-based financial aid if your parents make too much, there are many scholarships and grants that could be available. This includes merit-based scholarships or scholarships based on your involvement with particular activities or your interest in pursuing a specific field of study.

Will I get financial aid if my parents make over 100k?

There is no set income limit for eligibility to qualify for financial aid through. You'll need to fill out the FAFSA every year to see what you qualify for at your college. It's important to make sure you fill out the FAFSA as quickly as possible once it opens for the following school year.

How do I get my EFC to 0?

The FAFSA assigns an auto-zero EFC to students who report $27,000 or less in income. Eligible applicants are not expected to contribute financially to their college expenses.

Can I get financial aid if my parents make over 300k?

Finally there are some super aid schools such as hyp where they may offer aid up to 200-250 income depending on circumstances. If your family 's income is 300k, barring any specific/rare circumstances, you're not getting any need based aid anywhere. However you may get merit aid.

How do middle class parents pay for college?

The California State Legislature enacted the Middle Class Scholarship to make college more affordable for California's middle class families. The Middle Class Scholarship reduces student fees at the California State University and University of California by up to 40 percent for middle class families.

Are parents forced to pay for college?

Are parents legally obligated to pay for college? State law rules that the obligation to financially support your kids ends when the child turns 18. That means parents have no legal obligation to pay for their child's college education — with one exception.

Are parents responsible for FAFSA loans?

When the time comes to start making payments, only the student is obligated to repay these loans — not the parents. In fact, there's no co-signer. If the student defaults on a federal student loan, it will affect the student's credit and won't be reported on the parent's credit history.

Why does FAFSA go off your parents income?

If you're a dependent student, the FAFSA will attempt to measure your family's financial strength to determine your expected family contribution. Therefore, your family's taxed and untaxed income, assets, and benefits (such as funds collected through unemployment or Social Security) should be entered into the FAFSA.

What qualifies for a dependency override on FAFSA?

A dependency override may be granted if: Your parents are incarcerated. You left home due to an abusive family environment. You don't know where your parents are (and you have not been adopted).

Is an EFC of 0 bad?

A good EFC for each family will depend on their individual circumstances. In most cases, the lower the EFC, the better, since that typically corresponds to more financial aid. An EFC of 0 means the student and their family are expected to make no financial contribution of their own to college costs.

Why is my EFC 20000?

An Expected Family Contribution (EFC) of $20,000 on the FAFSA (Free Application for Federal Student Aid) means that the federal government has determined that your family is expected to contribute up to $20,000 towards your college education for the upcoming academic year.

What if I think my EFC is wrong?

It's possible mistakes can be made, or your circumstances have changed since you filled out your FAFSA. If you believe that a college has calculated your EFC incorrectly, contact the financial aid office. Financial aid officers will explain how they determined your EFC and discuss your options.

What to do if you maxed out financial aid?