EFC stands for Expected Family Contribution. The is an index number that college financial aid staff use to figure out how much financial aid you are eligible to receive if you go to their school. Your EFC is figured out after you report information about your specific situation on the FAFSA. It is based on a formula established by law. This formula considers your family's taxed and untaxed income, assets, benefits, family size, and number of family members attending college.

Your college figures out how much need-based aid you will receive by subtracting your EFC from your Cost of Attendance.

Your EFC is not how much financial aid you will receive, nor is it how much money you will have to pay for college.

The highest EFC that can be calculated is 99,999.

Ellington Financial LLC (EFC)had its IPO in 2010.

EFC stands for expected family contribution. Having an EFC of 0 just means that your family is expected to contribute $0 towards your education. It means you'll get more aid.

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Your EFC (estimated family contribution) number is used to determine your eligibility for federally sponsored financial aid. The university will subtract your EFC number from the total cost of attending that school to determine how much aid you should receive.

Generally, the lower your EFC number, the more financial aid you will be eligible to receive.

Source: http://www.salliemae.com/get_student_loan/apply_student_loan/understanding/efc/