I am currently a freshman at Tulane University. How likely are they going to change the school aid will give me for next year? Last year when I filed for financial aid, our EFC was around $36,000 (based on 2009 income taxes). However, on December 2009 my dad lost his job and filing FAFSA this year will show an estimated EFC of $10,000-$12,000. I know that's still not eligible for grants but is there a possibility that the school itself will give me more aid? The cost of attendance at Tulane is about $54,000. I have a $20,000 merit scholarship and $5,500 in student loans. My parents took a loan of ~$28,500. Aid (in most cases) is calculated as CoA-EFC and thus the reason why my parents took a loan of $28,500 since they could "contribute" that much. However, if my EFC drops to $10,000-12,000 there will be ~$18,500 left over. Assuming they'll give me Perkin's Loans instead (assuming $6,000 max), there's still around $12,500 left over. Will the school give me that much in "need-based"?
Also, there's a chance that our income might go below $75,000. As of last year, Tulane has a "no-loan" policy if family income is below $75,000. Will I be eligible for that or is that only if starting as a freshman?
Also, there's a chance that our income might go below $75,000. As of last year, Tulane has a "no-loan" policy if family income is below $75,000. Will I be eligible for that or is that only if starting as a freshman?