Case Studies
Case Study – Expected Family Contribution (EFC)
Families should be aware of the sophisticated formulas that determine their expected
family contribution and take control of the outcome.
| Family A |
|
|
Family B |
|
| Income |
$60,000 |
|
Income |
$60,000 |
| College Savings |
$25,000 |
|
College Savings |
$25,000 |
| Other Savings |
$25,000 |
|
Other savings |
$25,000 |
| Other Real Estate |
$50,000 |
|
Other Real Estate |
$50,000 |
| |
|
|
|
|
| Number in Family |
4 |
|
Number in family |
4 |
| Number in School |
1 |
|
Number in School |
1 |
| |
|
|
|
|
| EFC: |
$19,098 |
|
EFC: |
$8,295 |
Case Study – The “Lesser” School
Always consider the net cost of a school after financial aid and loans to determine
the true cost of attendance for your family.
| School “A” |
|
School “B” |
| COA |
$30,000 |
|
COA |
$15,000 |
| – EFC |
$ 5,000 |
|
– EFC |
$ 5,000 |
| = Need |
$25,000 |
|
= Need |
$10,000 |
| |
|
|
|
|
| 100% of need met |
|
|
60% of need met |
| Gift Aid - |
80% |
|
Gift Aid - |
50% |
| Self Aid - |
20% |
|
Self Aid - |
50% |
| |
|
|
|
|
| What would you actual pay at each
school? |
| |
|
|
|
|
| School “A” |
|
School “B” |
| EFC |
$ 5,000 |
|
EFC |
$ 5,000 |
| + unmet need |
$ 0 |
|
+ un met need |
$ 4,000 |
| + Self Aid |
$ 5,000 |
|
+ Self Aid |
$ 3,000 |
| |
|
|
|
|
| True Cost |
$10,000 |
|
True Cost |
$12,000 |
Case Study – Appeal
If there is cause to negotiate or appeal an award,
it can be worthwhile to do so.
| Original Offer |
Adjusted Offer After Appeal |
| COA |
$20,000 |
|
COA |
$20,000 |
| – EFC |
$ 8,000 |
|
– EFC |
$ 8,000 |
| = Need |
$12,000 |
|
= Need |
$12,000 |
| |
| Aid Offered |
Aid Offered |
| University Grant |
$2,000 |
|
University Grant |
$ 4,000 |
| College Work Study |
$2,000 |
|
Scholar Award |
$ 1,000 |
| Subsidized Stafford |
$2,625 |
|
College Work Study |
$ 2,000 |
| Perkins Loan |
$2,000 |
|
Subsidized Stafford |
$ 2,625 |
| |
|
|
Perkins Loan |
$ 2,375 |
| Total Aid Offered |
$8,625 |
|
Total Aid Offered |
$12,000 |
| |
| Unmet need |
$3,375 |
|
Unmet need |
$ 0 |
|
|
