|
Discuss the Costs of College With Your Parents.
Discuss costs of college with your parents to get an idea of what
your family can afford. A good starting point for discussion
is the evaluation of your Expected
Family Contribution (EFC). Your
EFC the amount of money you and your family are expected to contribute
toward the cost of college as calculated by the U.S. Department of
Education. Your EFC is used by the U.S. Department of Education
and State Departments of Education to determine your eligibility for
government financial aid and by colleges and universities to determine
your eligibility for institutional financial aid (from the schools
themselves).
Even if your EFC appears to be higher than your family can afford,
keep in mind that your dream school may offer you very significant
scholarship and grant awards. The scholarships and grants may
be so large that your dream school may end up costing you less than
a public State school that gives very little financial aid. Frequently,
students’ dream school turns out to be the cheapest college to
attend.
|
