What Does Efc Actually Mean?

[abminara 0]

I just got the report from FAFSA and it said that my EFC was 437. I know that it is very good, the lower the number the less I need to pay... but does this really mean that I only need to pay 437 $/year for education? Or is it something else like my rank in eligibility table, or smth?

[cangor 0]

I thought EFC was expected family contribution (e.g. what your parents pay for college) but if you're living by yourself or your family isn't very rich then it is very possible that the school only expects your family to pay $437/year. That, however, is in addition to student loans and work-study and stuff.Edit: Yeah, just checked, and I guess that's per year. So, that's a pretty small amount. That's good I guess.

Edited March 4, 2008 by cangor (see edit history)

[iGuest 3]

This is taken from the FAFSA website ..."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."---------------------So it seems it's more like a credit score and not a dollar amount. Replying to cangor-reply by getevenstephen

[iGuest 3]

efc of 450What Does Efc Actually Mean?I recieved an e-mail that my efc number was 450. I have never been through the financial aid process and haven't a clue. I was wondering what the efc numbers range from and what this 450 means for me. Thank you, Rachel-question by rachel

[iGuest 3]

What Does Efc Actually Mean?What Does Efc Actually Mean?

It means exactly that: what you are expected to pay each year for your education. When the colleges look at this number, they will offer a combination of scholarship and loans such that your out of pocket is close to the EFC; you have to pay back the loans.

 

-reply by Jose

[iGuest 3]

what you EFC means, really, is  your eligiblity for receiving financial aid through FAFSA. The lower the number, the more likely it is that you will receive federal grant money.

 A number like 437 is actually pretty good - depending on your school, you will most likely get money in the form of a Pell grant, for example. A student with a number like,say, 3000 will likely even get a bit of money.

Just go onto fafsa.Gov and apply. It should be the 1st step anyone takes for getting money for college, and probably the easiest.

-reply by adam

 

[iGuest 3]

So, After you fill out the fafsa form it displays the EFC number. Is it the higher the number the more you will pay? So what if you get like a 0?  Does that possibly mean you will get the full amount of your college? I doubt it but it would be nice since mine went up to an outrageaous amount that I can't afford! Does anyone know what a zero would mean? /txtmngr/images/smileys/smiley6.Gif

-reply by BrandiB21

 

[iGuest 3]

MY EFC What Does Efc Actually Mean?

I filled out my fafsa and my efc was 13434. I don't get it... My mother doesnt work, so on her worksheet I put 0. I work full time and made about $40,000 last year. I live on my own and pay all the bills solo and at the end of the month I barely make. The tuition at my private university is well over $22,000 a year. I guess the more you try to advance in life the more you have to pay.

[iGuest 3]

What does a 437 EFC score mean?What Does Efc Actually Mean?Our EFC was 12000. My adjusted gross income was 80000 with six family members and we have difficulty making ends meet without a new car, cable, etc.So I guess we'll qualify for student loans if necessary. We're still looking for scholarships and grants, though.-reply by JoeF

[iGuest 3]

FAFSA is an income redistribution tool of the progressivesWhat Does Efc Actually Mean?

I am in JoeF's shoes...Make a decent income, living in a very high-cost area of the country, with 7 dependents. The fact that this is a very high cost area of the country doesn't seem to factor into the FAFSA calculation. We live frugally, but are not in poverty like you see in Haiti. We consider our family as solidly middle class, nothing more. $80k/year income might provide a lot in many rural parts of the country, but in many urban parts of the country, this is barely enough to put a roof over ones head, and food on the table. We have two children entering college next year and our calculated EFC made both me and my wife laugh---what a joke. We are not expecting hand-outs for our children to attend college, just an opportunity for some help, like work-study or low interest loans. No handouts expected here. Anyways, we have no expectation of any need-based help now. We both have come to the conclusion that the FAFSA is simply a tool by the progressives of this country to redistribute income, and not to provide true help to those who are living responsibly.

-reply by spidermonkey

 

[iGuest 3]

inaccurate info.What Does Efc Actually Mean?

The EFC is NOT the amount you pay, it is a code only. The lower the number the better, and 450 isn't extremely low. However, 450 is not the AMOUNT. Please do not confuse them. I do with people who don't know what they are talking about wouldn't just make things up.

-reply by Debra

[iGuest 3]

Its BootyWhat Does Efc Actually Mean?

I am a high school student and work part-time making decent money, my parents barely make anything and I pay just about everything for myself except rent and 1/2 food.  I work so I can afford a car, holdhold neccessities and food. I am over 18. I made about $11000 part time.  My sister who only went to school full time the year befire me gets a efc of $1100 BECAUSE SHE DIDNT WORK AT ALL. And me mine is efc is $6900. It just aint right the morei try and get money for college the less ill get for college. I can't work when I go because I will have lots of classes. And also my parents are not going to help me pay anything. All FASFA gave me was a bunch of loans with almost low interest. ITs booty

-reply by AlexB

 

[iGuest 3]

Its BootyWhat Does Efc Actually Mean?<p>I am a high school student and work part-time making decent money, my parents barely make anything and I pay just about everything for myself except rent and 1/2 food.  I work so I can afford a car, holdhold neccessities and food. I am over 18. I made about $11000 part time.  My sister who only went to school full time the year befire me gets a efc of $1100 BECAUSE SHE DIDNT WORK AT ALL. And me mine is efc is $6900. It just aint right the morei try and get money for college the less ill get for college. I can't work when I go because I will have lots of classes. And also my parents are not going to help me pay anything. All FASFA gave me was a bunch of loans with almost low interest. ITs booty</p>-reply by AlexB<p> </p>

 

I don't exactly get why we only get what we get. My household with 2 people made a combine $30k, and my EFC was 8408 last year. This year, we made about $20k total and my EFC 2623. With only making $20k a year combined, why am I not getting any grants? I can get student loans, so I will have to deal with it. What I don't get is when my sister went to college a few years ago, she and her husband made over $90k a year and she recieved a pell grant! She ended up with less loans than I will and it just makes me mad!!!

[Panterapax 0]

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[iGuest 3]

Its BootyWhat Does Efc Actually Mean?<p>I am a high school student and work part-time making decent money, my parents barely make anything and I pay just about everything for myself except rent and 1/2 food.  I work so I can afford a car, holdhold neccessities and food. I am over 18. I made about $11000 part time.  My sister who only went to school full time the year befire me gets a efc of $1100 BECAUSE SHE DIDNT WORK AT ALL. And me mine is efc is $6900. It just aint right the morei try and get money for college the less ill get for college. I can't work when I go because I will have lots of classes. And also my parents are not going to help me pay anything. All FASFA gave me was a bunch of loans with almost low interest. ITs booty</p>-reply by AlexB<p> </p>

 

Your efc is based on your taxes too, even if you are dependent. Also, I'm pretty sure the federal government considers a car a luxury, (and it more or less is) unless its used directly for self employment or other job purposes. I think they also factor in how much the car is worth (eg. Corvettes wouldn't help your case). Not that you have one..unless you do? haha

Throughout college I found it way more beneficial to file as a dependent and either work off the books for a tiny bit of money on the side or not work at all. This worked out for me to get through college with out paying for anything. Of course if everyone started to do this, theoretically, there would be no fafsa, cause people would be evading taxes.

 

Of course this is more of a special case because my father makes very little money and is in crazy debt from a stupid house purchased in Florida (yea he was one of those guys, so certain numbers on the fafsa are actually negative. The middle class is at a loss for this kind of federal aid. Make sure you are also applying to your STATE'S aid program!

 

Another thing is that any sort of tuition for undergrad that goes over 8 or 10k a year is a complete waste of time and money! Private college, Ivy leagues are a bunch of elitist scams that play up their education through marketing and inflated reputation. Ivy League education is like paying $5 for an organic banana instead of a 15˘ when all you have to your name is a dollar. It will be advertised as better for your long term health, but you certainly won't die from eating regular bananas for a bit. Fafsa can only do so much to pay of this sort of tuition. You're better off going to a more accessible undergrad program and then saving the debt for grad school, because bachelor's degrees don't mean *BLEEP* when everyone in the country has a "business administration" degree or "accounting" degree and etc, attempting to cash out the easy way. The truth is that if your not actually chasing what you've always wanted, your paycheck won't be worth the amount of effort your putting in for it. You'll end up in a vicious cycle of masking your regrets with consumables struggling for nothing. What's really left to work for in life if your not doing anything you wanted, or at least chasing it?