for FAFSA does it matter which Housing Plan I select?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
turkishangora
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for FAFSA does it matter which Housing Plan I select?

Postby turkishangora » Sun Feb 14, 2010 6:45 pm

i.e. in matter of loan eligibility amt, etc. thanks.

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MURPH
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Re: for FAFSA does it matter which Housing Plan I select?

Postby MURPH » Tue Feb 16, 2010 5:55 am

It matters for EFC. Beyond that it varies.

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MoS
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Re: for FAFSA does it matter which Housing Plan I select?

Postby MoS » Tue Feb 16, 2010 6:00 am

They use that to calculate "need" The school will add their tuition, fees, and room and board together then subtract any scholarships and your EFC to calculate your need. Most schools will use the same number for on campus and off campus housing, but the number will be significantly lower if say you will live at home.

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Kring345
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Re: for FAFSA does it matter which Housing Plan I select?

Postby Kring345 » Wed Jan 25, 2012 1:37 am

Bump. Filling it out now. I have no idea where I'll be attending let alone living...???

WTF is EFC? Never dealt with student loans before...

nucky thompson
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Re: for FAFSA does it matter which Housing Plan I select?

Postby nucky thompson » Wed Jan 25, 2012 1:41 am

Kring345 wrote:Bump. Filling it out now. I have no idea where I'll be attending let alone living...???

WTF is EFC? Never dealt with student loans before...


+1 - do all 0Ls fill out Fafsa? When/under what circumstances ? Tia

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Kring345
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Re: for FAFSA does it matter which Housing Plan I select?

Postby Kring345 » Sat Jan 28, 2012 9:44 pm

Bump

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J-e-L-L-o
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Re: for FAFSA does it matter which Housing Plan I select?

Postby J-e-L-L-o » Sun Jan 29, 2012 3:04 am

EFC = Expected Family Contribution.

This is basically the amount that the student will have to come up with to cover all school costs.

Simple example, if you have an EFC of 5k...and your school is 20k a year.... you will be awarded a combination of max 15k grants/loans to cover your costs of education. Your expected to pay 5k of it.

admisionquestion
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Re: for FAFSA does it matter which Housing Plan I select?

Postby admisionquestion » Tue Jan 31, 2012 9:44 pm

So which should be higher?

Shouldnt we all just pick the one which will be higher?

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J-e-L-L-o
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Re: for FAFSA does it matter which Housing Plan I select?

Postby J-e-L-L-o » Thu Feb 02, 2012 10:10 pm

are you on the financial aid committee? How would you know which one is more? I would say pick off campus, since you would live off campus for 12 months of the year instead of the academic year.

Doesn't mean that it would be more off campus compared to on campus. Who knows. Just pick your situation and submit it. Don't look too much into it.

admisionquestion
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Re: for FAFSA does it matter which Housing Plan I select?

Postby admisionquestion » Sat Feb 04, 2012 2:05 pm

That was a terrible post.

I would look to much into it---its about how much money I have to live on for three years.

TLS knows lots of things---it would not be surprising that someone would know the answer to my question. I know that schools post pretty thorough pdfs about there aid practices etc.

I cannot just pick my situation since i dont know my situation yet.

Quit being snarky...

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J-e-L-L-o
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Re: for FAFSA does it matter which Housing Plan I select?

Postby J-e-L-L-o » Sun Feb 05, 2012 5:48 pm

it doesn't matter. On campus is a lil more (for meal plans and such) than off campus usually for schools.

Little meaning relative. If you don't believe me, you can pick one and have the FAFSA calculated. After you get the report of your EFC, you can update it and choose the other option to see if your EFC changed.

LawperaMan
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Re: for FAFSA does it matter which Housing Plan I select?

Postby LawperaMan » Fri Feb 10, 2012 12:10 pm

Many schools publish separate CoA (Cost of Attendance) figures for living on campus vs. off.

Your maximum loan will be CoA - scholarships -EFC, so if you want the maximum loan eligibility, pick the option with the highest CoA.




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