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Yes, the EFC on the FAFSA is for the entire school year. 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.
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What does an efc of 00000 mean on the FAFSA?
You'll get the Pell Grant and also Work-Study Programs and Loans. The Pell Grant can be up to $5,500 for the entire year.
I am a sophomore in High School is it to early to apply for financial aid for college and to start filling out FAFSA's?
It is to early to apply for FAFSA...but you can see go to the website MakeitCount and see what your estimated EFC (Expected Family Contribution) is prior to your senior year of high school. You file FAFSA in second semester of your senior year and after.
What does financial need mean on FAFSA?
When related to the FAFSA, your financial need is the difference between your cost of attendance and at a school (abbreviated as COA) and your Expected Family Contribution (EFC). Your cost of attendance will vary depending on what school you would like to attend, but your EFC will stay the same.
Can you choose what school gets your EFC?
Yes, you can choose which schools receive your Student Aid Report (the results of your FAFSA).
Is the EFC on the FAFSA per semester or per year?
The EFC is per academic year. It needs to be filled out each year. 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.
Is EFC per year or for 4 years?
Your EFC is per year. It is for the academic year marked on the FAFSA you fill out. 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 it mean if your EFC number is 0 on your FAFSA?
EFC stands for "Expected Family Contribution". Receiving a zero mean that based on the information that you provided while filling out your FAFSA, the government does not think that your family will be able to help you out with paying for your education. This allows you to be in the running for many grant, scholarships, and financial aid from your school.
What does a EFC of 00000 on FAFSA indicate?
You'll get the Pell Grant, Work Study and Loans. For the Pell Grant you'll get the max which is $5,500 for the year.
What is the most FAFSA applicants have qualified for?
I'm not sure exactly what you're asking, but when you fill out a FAFSA, you are given an EFC (expected familial contribution) that is based on the information you provide. The FAFSA itself is not a grant/loaning body..but a metric by which to assess what federal/state grants you qualify for, and for your university to determine your "need" (this is a highly contested value, and varies school by school). My EFC is 0 (and my university has a large endowment) so I have received a full ride. Hope this helped!
How much money can you have in your bank account to be eligible for FAFSA?
You are eligible to fill out a FAFSA no matter what is in your bank account. The FAFSA is a free application for aid from the government to be used for higher education. The application asks for various points of financial information about a student (and parents) to determine how high the Estimated Family Contribution (EFC) will be. The government uses a formula to see how this EFC will interact with the coast of attending school and may offer grants or loans to help the student come up with money to pay for school.
What does 0000 EFC mean on your FAFSA?
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.
What does EFC on the FAFSA mean?
== == According to the FAFSA FAQ: The Expected Family Contribution (EFC) measures your family's financial strength and is used to determine your eligibility for federal student aid during one school year. Your EFC will be displayed on your Student Aid Report (SAR) after your FAFSA is processed. The information you reported on your Free Application for Federal Student Aid (FAFSA) is used to calculate your EFC. The school uses the EFC to determine your federal student aid eligibility and financial aid award. 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. For more information, you can visit the financial aid office at your school or look at Funding Education Beyond High School: The Guide to Federal Student Aid at studentaid.ed.gov/students/publications/student_guide/index.html. Or, you can request a free copy of Funding Education Beyond High School: The Guide to Federal Student Aid by calling the Federal Student Aid Information Center. Refer to the Customer Service page for contact and assistance information.
