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College and University Discussion
Reply to "Merit aid.. help me out here"
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[quote=Anonymous][quote=Anonymous] There is no way I can pay what they calculate at our EFC. I wonder how they come up with that number. I mean, it’s not a matter of if I’m frugal and don’t go on vacation and keep driving my 5 year old car I can swing it. It’s like literally there is no way I can come up with that much money per year.[/quote] What I have heard about the EFC number is that it is expected to be a number which you can pay: 1/3 from past earnings (savings) 1/3 from present earnings (cash flow, student job) 1/3 from future earnings (debt -- student or you) If you have no savings, then that 1/3 would have to come from cash flow or debt. [/quote]
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