Estimated Family Contribution

[yticnineb]

I'm applying for MA programs, and still waiting to hear about fellowships. In the meantime, I completed the FAFSA. I'm 4 years out of college; since college, I've worked in Africa and Washington, DC-- all NGO/nonprofit. I have limited assets (no property, some retirement), but based on my 2007 income, I'm told that my EFC is $11,000. There is really no way I'll have this much saved in time for graduate school to begin, and I won't be working full-time while in school. Should I just assume that I'll be taking out at least $11K in private loans? Is there a way to communicate to schools that this number is unreasonable for my situation? Are EFCs always out of wack? Thanks so much for any insight into this!

[Ladylish]

Unfortunately, EFC is based off your income from the previous year's tax returns...sounds like you had a good paying job. The first year you will not be eligible for as much financial aid (like loans) but this should not effect schools' offers of fellowships, TAs, etc. Good news, your second year if you are not working your EFC will be drastically lower. Hope that helps!

[yticnineb]

I think you're right about waiting it out for the second year, when I'll have a low EFC. I don't make a whole lot, just above entry-level nonprofit in an expensive city, but I consider myself lucky to have had a steady job with great benefits and the ability to save for retirement at all. I reeeaaally hope some fellowship money comes through; not having a lot of undergrad debt allowed me to pursue awesome opportunities after graduation, and I'd like to be in a similar position following grad school.

[StarvingStudentYeah]

I have to disagree with the previous two posters somewhat. Most schools have a "special circumstances" form which you can fill out as an addendum to your FAFSA and any other school internal FA application.

One of the primary reasons why such an addendum can positively impact your financial aid application is by having had income that is no longer forthcoming. Generally, you'll need to back this up with proof that you are no longer receiving the income the resulted in the elevated EFC. While this will reduce your EFC in many instances, it will not reduce it to where it would have been had you not ever had that income.

This situation is not at all that uncommon. I suggest speaking with a FA rep at the school in question, and then taking it from there.

Good luck!