Am I wrong or am I right I am soo aggrevated.?

I am 20 years old. I moved out of my parents house in January and back in in September. I have a great relationship with my parents! They actually cried for a long time after I moved out.

The problem is...I started college in August for the 1st time. I have paid for two classes by myself and I work full time..have a car payment, cell phone..etc etc..My parents give me no money and that is fine! BUT Now I am desperately wanting to go to school full time and cut back to part time at work..so I applied for financial aid and of course had to put in my parents tax info and came back with an EFC of 12050 which I guess means that the gov isn't going to help me with college. THIS IS NOTTTT FAIR! by the way what is this EFC business..Expected Family Contribution! where do they get off "expecting" anything...My parents have told me they will not pay for college..I already pay them monthly bills for living here..what the heck is going on here?

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  • 1 decade ago
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    SB:

    I understand your aggravation, but you need to step back for a minute, and remember what financial aid really is.

    When you get financial aid from the government, that aid isn't money that the Department of Treasury prints up over at the mint. Financial aid, like all other forms of "government money" is taxpayer money. When you see the word "government" used in the context of paying for something, you can fairly substitute the word "taxpayers".

    As a matter of public policy, it is a good thing for everyone if the populace of this country is well educated. Because of that, the government (the taxpayers) does what it can to encourage and support higher education.

    Here's the deal - the taxpayers provide a limited amount of money to help students pay for college. When I say "limited", that's limited in federal government terms - during the 2006-2007 school year, the federal government provided $97.1 billion in financial aid.

    Though there is tremendous pressure on the government (taxpayers) by certain constituencies (people who want to go to college) to continue to increase the amount of financial aid, the only way to increase government spending in one area is to either increase taxes or make cuts somewhere else. Increasing taxes is a non-starter right now for most people - so you can do the math.

    The government believes that a student and the student's family are primarily responsible for the expense of higher education. In fact, the taxpayers EXPECT the student and his family to pay for a college degree. The point of financial aid is to help those who can't afford it - but the taxpayers choose not to reward those families who aren't willing to pay for it. You'll say that your parents don't have the money - and the reality is - most parents don't have the money. Some parents borrow and sacrifice and go into phenomenal debt in order to provide an education for the children - other parents, for their own perfectly legitimate reasons, tell their kids that they're not going to help them.

    The government (taxpayers) are not prepared to pick up the slack for college students whose parents don't want to contribute.

    Where do "they" get off with expected contributions? "They" is "us", the taxpayers, and "we" "get off" with the expectation that your parents are primarily responsible for funding your college education, not the rest of "us". We will help you pay for school, but we're not going to step in and pay the bills that your parents don't want to pay.

    I hope that helps you understand the situation a little better. I suspect you'll share these sentiments when you're out of college and your tax money is paying some other parents' share.

    Good luck.

  • 1 decade ago

    Okay... deep breath..

    First...

    An EFC is just a code the school uses to determine what kinds and how much fin aid you will get. It is NOT what you are "expected" to pay the school. Repeat... it is NOT what you are expected to pay for school. Many schools have very cheep tuition rates and you can attend for less than 2000 a semester. Other schools are very expensive and you could pay upwards of 40K a year. All with an EFC of 12050!!

    Second...

    Yes, you will qualify for gov assistance. Anyone qualifies for federal financial aid regardless of their EFC. Even with your EFC you WILL qualify for low interest federal Stafford loans which will require no cosigner and not require you to pass a credit check. What a deal!! No other agency or bank would offer you a loan and allow you to defer payments for years and years. It may be hard to swallow right now... but this is a good perk for you.

    Your other option is to cut back on all your expenses (get rid of the cell) talk to the folks about your goals and what you are wanting to do and live like you did when you were in high school... BEFORE you were old enough to work. You may not have a life for a while.... but it will be well worth it in the long run.

  • Anonymous
    1 decade ago

    I'm in a similar situation but use a credit card and line-of-payment. It sucks, but it's all I know right now. I also have to extend the amount available as I need a few thousand dollars more.

    Good luck with better options, but just letting you know this one's out there too.

    And you're not "wrong" to be aggravated, but there's no use in being aggravated. It doesn't improve the situation.

  • 1 decade ago

    You are considered a dependent of your parents by FAFSA's definition so they use your parents' income when determining your EFC regardless of whether your parents are helping pay or not. There's nothing you can do about it either.

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