What Does The Efc Number Mean On My Fafsa

What does my FAFSA EFC number mean? | Scholarships360

EFC or Expected Family Contribution is the amount of money that a college estimates that your family can afford. This is calculated as part of your financial aid application process through the FAFSA, CSS Profile, or other financial aid forms. You can think about your EFC as the “baseline” for your financial aid package.

What Does My FAFSA EFC Number Mean?

After you file the Free Application for Federal Student Aid (FAFSA), you will receive a Student Aid Report (SAR) that includes the expected family contribution (EFC) on the top right. The EFC is a mysterious six-digit number, that may include leading zeros. The EFC is not like Costco prices, where some of the digits have special significance.

The EFC Formula, 2020-2021

THE EFC FORMULA, 2020–2021 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 ®).

What Does FAFSA EFC Number Mean? | Chart | Code | Index

Your EFC is Like an Index Number for Colleges. Colleges use your EFC Code to calculate your financial aid eligibility. Some people use a formula COA – EFC= Amount You Pay but in reality this understates in most cases what you will pay. Strategy Alert: FAFSA EFC Analysis Calculator provides FAFSA/CSS Profile estimates not only of your EFC number/s but also projects financial aid awards for each college. The …

Expected Family Contribution (EFC): What It Is and How to ...

THE EFC FORMULA, 2021–2022

THE EFC FORMULA, 2021–2022 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 ®).

What Does My EFC Number Mean, Really? - College Initiative

EFC stands for Expected Family Contribution. This is the amount that the government says that you can afford to contribute (for one year, not in total) for your child’s college education. According to FAFSA, it “is a measure of your family’s financial strength, and is calculated according to a formula established by law.”

How the FAFSA Expected Family Contribution (EFC) Works

The EFC is determined by a formula designed by Congress, and is an estimate of how much you and your family are able to contribute toward your education expenses, based on information from the FAFSA. It is the maximum expected contribution, not necessarily what you actually must or will pay.

What Does My EFC Code for Financial Aid Mean? | LoveToKnow

EFC stands for Expected Family Contribution. The EFC code number you receive after you complete a FAFSA (Free Application for Financial Aid) is the amount your family is expected to contribute for one year (the school year to which the FAFSA applies).

What Does My FAFSA EFC Number Mean?

What Does My FAFSA EFC Number Mean? By Mark Kantrowitz. October 13, 2020. After you file the Free Application for Federal Student Aid (FAFSA), you will receive a Student Aid Report (SAR) that includes the expected family contribution (EFC) on the top right.

THE EFC FORMULA, 2021–2022

What Does My EFC Code for Financial Aid Mean? | LoveToKnow

Student Aid Report (SAR) and Expected Family Contribution ...

After you submit the FAFSA you will receive your Student Aid Report (SAR). The SAR summarizes the information you provided on the FAFSA, and indicates the Expected Family Contribution (EFC). The EFC is the amount of money your family will be expected to contribute to your education.

What Does FAFSA EFC 00000 Mean? | Do You Understand Your EFC?

What does your EFC number mean if it is not 00000? [Strategy Alert]: As referenced above, your EFC number is subtracted from the total cost of attendance of each school to arrive at a financial need number. However most schools do not meet 100% of your financial need number when they provide you with a financial aid award.

How Is Your FAFSA EFC Calculated? | Road2College

What FAFSA EFC Numbers Mean. How is your EFC determined? It’s generated by factors like age of oldest parent, how many kids you have in college, family size, parent income and assets, and student income and assets. Even if you look like other college families from the outside, your EFC may be very different, depending on these factors.

FAFSA’s Expected Family Contribution Is Going Away. Good ...

FAFSA’s Expected Family Contribution Is Going Away. Good Riddance. The dollar figure that the federal financial aid form spits out has long left families confused and despondent.

FAFSA EFC number - Financial Aid & Scholarships - College ...

You would get any merit aid available from the school or state. You are eligible for unsubsidized loans. That number just means that the federal funds available to low income students are not available to you, and you missed by a lot ($79,273 when the pell grant go to those with EFC …

Why is My EFC So High?

The EFC, or Expected Family Contribution, is a measure of your family’s ability to pay for college based on what you entered into your Free Application for Federal Student Aid ().It’s a measure that many (though not all) colleges use to determine their financial aid offers for students.

EFC - Expected Family Contribution for Financial Aid ...

Your Expected Family Contribution (EFC) is an index number that colleges use to determine how much financial aid you’re eligible to receive. Your EFC is calculated according to a formula established by law and the information from your Free Application for Federal Student Aid (FAFSA ® ) .

NEW FAFSA Changes: What does it mean for your family ...

We talked about this EFC expected family contribution, expected family contribution, well, that’s got a short shelf life, January 1, 2022. That is going to be the SAI, Student Aid index, the hope being it clears up some confusion, it’ll clear up a little bit, not …