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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/
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What does it mean if EFC is 280?
EFC stands for Estimated Family Contribution. An EFC of 280, means that the government is expecting your family to be able to contribute 280 dollars to your education. Scholarships and Financial Aid offices base the amount of money they give you on this number. The lower the number the more financial aid you can receive.
Who is better LFC your EFC?
LFC
What EFC number will make you eligible for the maximum Pell Grant?
For 2013-2014, students with EFC'sbetween 4995 and 5081 are eligible for a Pellgrant for the first time. (The new maximum EFC is 5081.) There is also a modest increase in the minimum and maximum award amounts. (The minimum award is set slightly higher than the required 10% of the maximum by the Dept of Education to make their numbers work.)You can calculate your EFC in the related link.The following contains both maximum and minimum award amounts with regard to enrollment status:Full-time: 5,550 | 5773/4 time: 4,163 | 5631/2 time: 2,775 | 5751/4 time: 1,388 | 563As far as your EFC goes, the lower your EFC is, the better your chances are at receiving the full amount, with EFC values at zero almost always qualifying for the entire amount. The higher it costs to attend your college, the greater your likelihood of receiving more aid by way of the Pell Grant, as this is commonly referred to as your cost of attendance by financial aid people.
What if your EFC is 308 not 0?
That means the expected family conribution "EFC" amount is $308. It's basically what the government thinks your family should be able to pay or contribute for college. So the lower your number is the more financial aid you would recieve.
What does it mean if your efc number is 00114 on your fafsa?
Your EFC is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. It is a number used by your school to calculate the amount of federal student aid you are eligible to receive.Typically, the lower your EFC, the more financial aid you will receive.Once you know your EFC, you can estimate the amount of financial aid you are eligible for at any college: Simply subtract your EFC from the college's total cost of attendance. Once you know how much financial aid you may receive, you can begin to compare the cost of attending different colleges.
What does it mean if your efc number is 49 on your fasfa?
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What does it mean if your efc number is 002668 ?
An EFC number is the "expected family contribution", or the amount a family is expected to pay for their student's college education. It short, the EFC has an effect on how much federal grant money you will be given for college expenses.
My EFC number is a 40 is that good or bad?
A lower EFC usually indicates that you will be eligible for more financial aid. 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.
What does an EFC number of 00995 mean?
An Expected Family Contribution (EFC) number of 00995 means that the family is expected to contribute $9,995 towards their child's education for the given year. This amount is used to determine eligibility for need-based financial aid, where a lower EFC generally indicates a greater financial need.
What does it mean if your EFC number is 12126 on your FAFSA?
This number indicates that you are not eligible for any pell grants.
What does it mean if your efc number is 7944 on your fasfa?
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.
What is the highest efc?
The highest EFC that can be calculated is 99,999.
