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What is Annas EFC expected family contribution )? What does this number mean?

EFC(Expected Family Contribution), is a number that universities use to calculate what further financial assistance youre qualified for. It is obtained from the FAFSA financial aid form, CSS assessment, or other federal aid forms.

What is the EFC of 000000?

What is Expected Family Contribution EFC 00000. If your financial aid report shows an expected family contribution of 00000, this means $0 or zero dollars you are expected to pay for college, which is great! You will be eligible for a lot of federal financial aid for college, but not all of it will be free.

What are EFC codes?

What is the EFC? The Expected Family Contribution (EFC) is a number that determines students eligibility for certain types of federal student aid. This number is calculated with the EFC formulas, which use the information that students provide on the Free Application for Federal Student Aid (FAFSA).

Is 8000 a high EFC?

Need-based aid For example: Say your schools cost of attendance is $20,000 and your EFC is $8,000. In this case, your financial need would be $12,000 this would also be the maximum you could get in need-based aid.

What is the highest EFC on fafsa?

Use of the expected family contribution Generally speaking, the lower the EFC, the higher the financial aid award will be. Zero is the lowest EFC number (indicating that the family cannot afford to pay anything) and 999,999 is the highest.

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What is the EFC score for 20000?

If you have an EFC of $20,000, the college meets 70% of financial need, this leaves you with 30% of unmet need (Example, total cost $40,000 less EFC equals financial need of $20,000 times 30% unmet need $6,000. So your theoretical out of pocket costs would be your EFC $20,000 plus unmet need of $6,000 equals $26,000.

What is a secondary EFC?

If a student meets the criteria for Simplified Needs but still provides asset information, then a Secondary Expected Family Contribution (EFC) is calculated.

What does EFC 9000 mean?

With an EFC of 9,000 you would not be eligible for federal grants but would probably be eligible for loans and work study. The school uses the extra financial information you provided on CSS to determine your need, for institutional aid purposes, using their own formulas.

What does EFC of 8000 mean?

For example, if your EFC is $8,000, and the college costs $15,000 to attend, you may be eligible for $7,000 worth of aid. On the other hand, if college A costs $6,000, you may not be offered financial aid (from college A), since FAFSA indicates you can pay that much out of your own pocket.

What EFC is too high?

Any person with an EFC number at 0 will receive the maximum amount of student aid, while a number over 5273 will result in no aid at all. The numbers, and the amount awarded, fluctuate annually. The closer you can get to zero, the more federal dollars youll have to help pay for tuition and fees.

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