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College and University Discussion
Reply to "Super high EFC"
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[quote=Anonymous][quote=Anonymous]Our EFC is about $60000!!! There's no way we could afford to pay that on our HHI, about $200K, give or take $15,000 or so depending on bonuses. We only have enough saved for about $25,000 a year per kid. There will be a one year over lap when they are both in college. Did anyone else have an extremely high gap between their EFC and what they actually saved? I don't know how we're going to do it.[/quote] Ours is $56k and our income as around $180k. We have saved enough to meet that. Think of it as $10k a year since birth- much more manageable. We have been able to save enough for both to attend out of state schools, but not both to private schools without merit aid. Luckily, merit aid is plentiful enough in private schools. DC's merit aid so far has been to make it close to in state costs (still waiting on one). $25k is fine for in state. If your DC want to go elsewhere, then merit aid needs to pick up the rest. [/quote]
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