To those who have done the college application process recently:
I have filled out my Fafsa and got back an EFC of ~$20k. As I understand it, you take the college's cost of admission and subtract the EFC, and that's the amount of federal aid you're expected to receive?
I am even more confused when merit based aid plays into this.
For example, I was accepted to the University of Miami (FL) and was granted a $20k/yr merit based scholarship. As an out of state applicant, how would I estimate how much I would be paying yearly, with the federal aid as well?
For reference, UMiami tuition is roughly $35k a year and then there's another $17k or so for room and board and fees and such.
I understand it changes from school to school, but some general information on how to figure this out would be great.
I have filled out my Fafsa and got back an EFC of ~$20k. As I understand it, you take the college's cost of admission and subtract the EFC, and that's the amount of federal aid you're expected to receive?
I am even more confused when merit based aid plays into this.
For example, I was accepted to the University of Miami (FL) and was granted a $20k/yr merit based scholarship. As an out of state applicant, how would I estimate how much I would be paying yearly, with the federal aid as well?
For reference, UMiami tuition is roughly $35k a year and then there's another $17k or so for room and board and fees and such.
I understand it changes from school to school, but some general information on how to figure this out would be great.