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College and University Discussion
Reply to "Question about Financial Aid"
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[quote=Anonymous]My oldest DC is a high school senior and I'm completing the FAFSA and I see that our Expected Family Contribution (EFC) will be about $50,000, which is about what I expected because we have saved for college expenses over the years. Here's my question: Next year, and in each year after, as our savings is reduced by the amount we pay for DC's college expenses, should I expect our ECF to go down as well? And our "need" to rise by a corresponding amount? That seems logical to me, but I wonder if it is a common experience that a student gets no need-based aid as a freshman, but gets more each successive year as the parents' savings shrinks. Or, is the amount of need-based aid one gets as a freshman held steady over the four years? Would love to hear from someone who has been there. Thanks. [/quote]
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