Re: EFC: Non trads get screwed!
Posted: Wed Feb 11, 2009 11:36 am
Made 60k last year and my EFC is only 3500??????
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https://www.top-law-schools.com/forums/viewtopic.php?f=15&t=59240
Did you itemize deductions? I wonder if that makes a huge difference. Hubby and I weren't able to file a 1040 EZ or A because he has some per diem itemizations we can use since he's a truck driver. But yeah, if you made 60k by yourself, it's completely f'ed up that your EFC is 3500 while mine is 20k.LSATfromNC wrote:Made 60k last year and my EFC is only 3500??????
I know someone who is a dislocated worker and is getting money to go to school because of it . . . so it might actually mean you are getting less if they assume the government has already given you $?I think when they ask if either you or your spouse is a dislocated worker, it's just so they can chuckle at your expense, not so they can make any adjustments to your file
Hm. If I understand you correctly, that seems really odd. But, it's likely a moot point anyway, as he is planning this week to accept a job driving over the road. The local companies that are hiring are the ones that pay nothing, unfortunately. OTR is more money, but he'll never be home.angiej wrote:I know someone who is a dislocated worker and is getting money to go to school because of it . . . so it might actually mean you are getting less if they assume the government has already given you $?I think when they ask if either you or your spouse is a dislocated worker, it's just so they can chuckle at your expense, not so they can make any adjustments to your file
It doesn't make sense to me either but he can't seem to qualify for many other grants (Pell, etc.) b/c the government is already paying for $6,000 for his schooling for the disclocated workers program.gpb19 wrote:Hm. If I understand you correctly, that seems really odd. But, it's likely a moot point anyway, as he is planning this week to accept a job driving over the road. The local companies that are hiring are the ones that pay nothing, unfortunately. OTR is more money, but he'll never be home.angiej wrote:I know someone who is a dislocated worker and is getting money to go to school because of it . . . so it might actually mean you are getting less if they assume the government has already given you $?I think when they ask if either you or your spouse is a dislocated worker, it's just so they can chuckle at your expense, not so they can make any adjustments to your file
Once LS starts it's not like I'd be spending a lot of time with him anyway, right?
(Sorry for the thread hijack with my little pity party, please continue with your regularly scheduled EFC rants!)
Ok, that does make sense for him. But if that's what they are doing, it's even more f'ed up. The form doesn't ask if it's me or my husband who is dislocated, it just wants to know if one of us is. And it's not like I'm going to get federal money to go to LS b/c my huband's trucking job that was tied into the real estate market fell through.angiej wrote:It doesn't make sense to me either but he can't seem to qualify for many other grants (Pell, etc.) b/c the government is already paying for $6,000 for his schooling for the disclocated workers program.
CWF V wrote:I'm really not trying to be pugnacious, but...bigben wrote:Law school basically does not have financial aid, so everyone just calm down. It's either merit aid or you will be taking out LOANS.
Need-based aid is given to students with low ECs. This money is in the form of a grant; you never need to pay back a grant. Loans = need to pay back; grants = do not need to pay back.
Unlike merit-based aid, need based aid usually cannot be negotiated. The only exception is when you are experiencing an unforeseen hardship: an expensive childbirth, an accident, etc... In those cases, it is possible to have the school's financial aid office re-review your aid package (note: this may only be true for public universities as I have only had this experience with those types of institutions).
bigben wrote:CWF V wrote:I'm really not trying to be pugnacious, but...bigben wrote:Law school basically does not have financial aid, so everyone just calm down. It's either merit aid or you will be taking out LOANS.
Need-based aid is given to students with low ECs. This money is in the form of a grant; you never need to pay back a grant. Loans = need to pay back; grants = do not need to pay back.
Unlike merit-based aid, need based aid usually cannot be negotiated. The only exception is when you are experiencing an unforeseen hardship: an expensive childbirth, an accident, etc... In those cases, it is possible to have the school's financial aid office re-review your aid package (note: this may only be true for public universities as I have only had this experience with those types of institutions).
Do you personally know of anybody who got financial aid in grants from a law school? I just don't think it happens. I explain why I have this impression here: http://www.top-law-schools.com/forums/v ... &p=1241963
Yeah, it's very rare. I think people got aid in undergrad and assume they will in law school, but it's not even remotely close to being like undergrad.LSATfromNC wrote:bigben wrote:CWF V wrote:I'm really not trying to be pugnacious, but...bigben wrote:Law school basically does not have financial aid, so everyone just calm down. It's either merit aid or you will be taking out LOANS.
Need-based aid is given to students with low ECs. This money is in the form of a grant; you never need to pay back a grant. Loans = need to pay back; grants = do not need to pay back.
Unlike merit-based aid, need based aid usually cannot be negotiated. The only exception is when you are experiencing an unforeseen hardship: an expensive childbirth, an accident, etc... In those cases, it is possible to have the school's financial aid office re-review your aid package (note: this may only be true for public universities as I have only had this experience with those types of institutions).
Do you personally know of anybody who got financial aid in grants from a law school? I just don't think it happens. I explain why I have this impression here: http://www.top-law-schools.com/forums/v ... &p=1241963
At a recent admitted students chat it was put out they do give out need based grants, but not very many she said. She stated its for the poorest of the poor, mainly because most students are poor.
Something must be up. I had a decent income last year and was expecting maybe a 15k EFC but the dislocated worker factor brought it right to 0. Was your income a significant amount of your household income? Maybe more than your husbands? That's the only thing that would account for you having such a high EFC still.gpb19 wrote:Thanks rainmaker. I'm really not stressed about the EFC thing at all, because I know it won't matter. I'm just annoyed at the way it's calculated, because it's illogical to me.
But, to clarify - my completed FAFSA definitely says "Yes" about whether hubby or me is a dislocated worker, and it also definitely says my EFC is $20043. We don't own any property other than our home, and we don't have anything additional in assets besides what little is left in our savings account right now.
So again, I realize it means nothing and that I'll be just fine when it comes to getting loans, but it's annoying to see $20043 as my EFC under the circumstances.
Nope, I took this crappy-paying job in May to get some legal experience, so he made a bit more than me last year, but not by much.rainmaker614 wrote:Something must be up. I had a decent income last year and was expecting maybe a 15k EFC but the dislocated worker factor brought it right to 0. Was your income a significant amount of your household income? Maybe more than your husbands? That's the only thing that would account for you having such a high EFC still.gpb19 wrote:Thanks rainmaker. I'm really not stressed about the EFC thing at all, because I know it won't matter. I'm just annoyed at the way it's calculated, because it's illogical to me.
But, to clarify - my completed FAFSA definitely says "Yes" about whether hubby or me is a dislocated worker, and it also definitely says my EFC is $20043. We don't own any property other than our home, and we don't have anything additional in assets besides what little is left in our savings account right now.
So again, I realize it means nothing and that I'll be just fine when it comes to getting loans, but it's annoying to see $20043 as my EFC under the circumstances.
you do for needaccess, and all fafsa gives you are LOANS. There will be no need based scholarship money for me because of my parents.ShiftyPig wrote:If you are pursuing a graduate degree, you do not report your parents' income.kiwislug wrote:At least you have a salary. I made about $6,000 last year but I won't get any aid because my parents make too much money.
That would probably account for it. I filed a 1040a and thus didn't itemize.gpb19 wrote:Nope, I took this crappy-paying job in May to get some legal experience, so he made a bit more than me last year, but not by much.rainmaker614 wrote:Something must be up. I had a decent income last year and was expecting maybe a 15k EFC but the dislocated worker factor brought it right to 0. Was your income a significant amount of your household income? Maybe more than your husbands? That's the only thing that would account for you having such a high EFC still.gpb19 wrote:Thanks rainmaker. I'm really not stressed about the EFC thing at all, because I know it won't matter. I'm just annoyed at the way it's calculated, because it's illogical to me.
But, to clarify - my completed FAFSA definitely says "Yes" about whether hubby or me is a dislocated worker, and it also definitely says my EFC is $20043. We don't own any property other than our home, and we don't have anything additional in assets besides what little is left in our savings account right now.
So again, I realize it means nothing and that I'll be just fine when it comes to getting loans, but it's annoying to see $20043 as my EFC under the circumstances.
I've quadruple-checked everything, because it makes no sense. My pet theory is that it's because we didn't qualify for 1040EZ or A since we itemized his per diem. Meh. At least it won't hurt me in the long run. Just evidence that the way they calculate EFC is really messed up!
While I do agree with you about those who are actually poor should get assistance and all, your EFC of 2k is essentially no more beneficial than one that is 10k. It is still too much to qualify for need based aid but you will get the full amount of the subsidized stafford loan, which is the same situation as someone that makes significantly more money.dresq wrote:Only non-trads with money and other assets get "screwed." Those of us who are actually poor and need assistance don't. My EFC is right at $2k.
Well, that's wonderful. The only reason my EFC is $2k is because of a few thousand dollars I got when my grandma died. I guess I should have been irresponsible and blown it so that I could qualify for more assistance. I only made $12k last year (and every year for the past 8 years). I don't qualify for aid? Now that's getting screwed.rainmaker614 wrote:While I do agree with you about those who are actually poor should get assistance and all, your EFC of 2k is essentially no more beneficial than one that is 10k. It is still too much to qualify for need based aid but you will get the full amount of the subsidized stafford loan, which is the same situation as someone that makes significantly more money.dresq wrote:Only non-trads with money and other assets get "screwed." Those of us who are actually poor and need assistance don't. My EFC is right at $2k.
How old are you? If your younger, your parents info is likely what will matter anyways, not yours. Schools with a significant amount of need based aid to offer usually ask for a Needs Access application or a school specific form that you have to fill out with this info. If your parents are low income too, then you could still be eligible.dresq wrote:Well, that's wonderful. The only reason my EFC is $2k is because of a few thousand dollars I got when my grandma died. I guess I should have been irresponsible and blown it so that I could qualify for more assistance. I only made $12k last year (and every year for the past 8 years). I don't qualify for aid? Now that's getting screwed.rainmaker614 wrote:While I do agree with you about those who are actually poor should get assistance and all, your EFC of 2k is essentially no more beneficial than one that is 10k. It is still too much to qualify for need based aid but you will get the full amount of the subsidized stafford loan, which is the same situation as someone that makes significantly more money.dresq wrote:Only non-trads with money and other assets get "screwed." Those of us who are actually poor and need assistance don't. My EFC is right at $2k.
TINTCRdresq wrote:Only non-trads with money and other assets get "screwed." Those of us who are actually poor and need assistance don't. My EFC is right at $2k.
I'm 30, and my parents are middle class. It's irrelevant, though, since I haven't received, nor will I receive any money from them. I'm not going to empty my savings into a box either. If a school or the BAR were to audit my banking records, it would be obvious that I had done that, and I'd like to be admitted to the BAR someday. I know an audit is not likely to happen, but that would not look good. Hopefully I'll get merit aid from one of the schools I actually want to go to. So far I've only got $45k from Michigan, but I don't really want to go there. Crossing my fingers for the scholly I'm up for at Penn and maybe some matching at Berkeley.rainmaker614 wrote:How old are you? If your younger, your parents info is likely what will matter anyways, not yours. Schools with a significant amount of need based aid to offer usually ask for a Needs Access application or a school specific form that you have to fill out with this info. If your parents are low income too, then you could still be eligible.dresq wrote:Well, that's wonderful. The only reason my EFC is $2k is because of a few thousand dollars I got when my grandma died. I guess I should have been irresponsible and blown it so that I could qualify for more assistance. I only made $12k last year (and every year for the past 8 years). I don't qualify for aid? Now that's getting screwed.rainmaker614 wrote:While I do agree with you about those who are actually poor should get assistance and all, your EFC of 2k is essentially no more beneficial than one that is 10k. It is still too much to qualify for need based aid but you will get the full amount of the subsidized stafford loan, which is the same situation as someone that makes significantly more money.dresq wrote:Only non-trads with money and other assets get "screwed." Those of us who are actually poor and need assistance don't. My EFC is right at $2k.
Otherwise, how the hell did 12k a year give you a EFC of 2k? Take that grandmah money out of your savings and put it in cardboard box under your bed and report 0 on your FAFSA. It would be the ethical thing to do since your getting screwed like that lol.
Is the Bar really going to audit your banking records?dresq wrote:I'm not going to empty my savings into a box either. If a school or the BAR were to audit my banking records, it would be obvious that I had done that, and I'd like to be admitted to the BAR someday. I know an audit is not likely to happen, but that would not look good.
Some schools require parental information. At least Penn State does, if you want to be considered for any need-based grants.kiwislug wrote:you do for needaccess, and all fafsa gives you are LOANS. There will be no need based scholarship money for me because of my parents.ShiftyPig wrote:If you are pursuing a graduate degree, you do not report your parents' income.kiwislug wrote:At least you have a salary. I made about $6,000 last year but I won't get any aid because my parents make too much money.