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Fafsa Efc Number Meaning. What does my FAFSA EFC number mean. If your EFC is low and the cost of tuition is high youre more likely to qualify for need-based financial aid. The lower the EFC the higher the grant so your EFC of 3175 means that you will receive a Pell but not a full one. If both children attended schools that just use the FAFSA The EFC for each child would drop by half.
This number is calculated with the EFC formulas which use the information that students provide on the Free Application for Federal Student Aid FAFSA. EFC stands for Expected Family Contribution. The application process is free and it is managed though the US. An EFC number is the expected family contribution or the amount a family is expected to pay for their students college education. An asterisk will appear next to your EFC number if you are selected verification. According to FAFSA it is a measure of your familys financial strength and is calculated according to a formula established by law.
Your Expected Family Contribution EFC is an index number that college financial aid staff use to determine how much financial aid you would receive if you were to attend their school.
This is a federal grant grant meaning that the money does not have to be paid back. If both children attended schools that just use the FAFSA The EFC for each child would drop by half. An Expected Family Contribution is a dollar figure that represents what financial aid formulas believe a family should be able to pay for one year of a childs college education. The EFC is the number that determines your eligibility for grants. The Expected Family Contribution EFC is a number that determines students eligibility for certain types of federal student aid. The EFC is not like Costco prices where some of the digits have special significance.