Question : What exactly does the Expected Family Contribution mean on the FAFSA?
I filled out the FAFSA and my EFC is $15,000, which is ridiculous because my Dad was laid off and has been on unemployment for 5 months, and Mom works as a manager at Target. School costs $9,500. Does that mean I am not eligible for any financial aid?Does anyone know of any good scholarships? My GPA is really good, and I'm transferring as a junior with a major in Genetics and Cell Biology. I'm working as an intern, and I'll only net about $4,000. ANY advice would be really appreciated.I should also mention that my parents have told me there isn't any money for me. No college fund for Chris. Anything I can get other than loans?
- asked by Chris
All Answers:
Answer #1
Take the info about being laid off to yourfinancial aid office at the school. My sister wasjust starting the process to apply to college whenour dad got laid off, and the financial aid officehelped come up with some extra funds.
- answered by Richard H
Answer #2
It means exactly what it states! However youshould wait for your award letter to be sure. Youmay have to take out student loans.
- answered by MEEKIEBOO
Answer #3
Thats what they expect your family to pay. Thoseapplications are so confusing. I made lots ofmistakes and my son fixed them and we had to pay alot less. I put my income in too many places whereI shouldn't have. You should go back over theapplication for your parents you may find somemistakes yourself.
- answered by huhwhereiami
Answer #4
The Expected Family Contribution (EFC) is the waya family's ability to pay for college iscalculated. The formula for determiningeligibility for federal aid programs is the sameacross all colleges. When you apply for financialaid, expect to answer questions about yourfamily's income and savings. Most of thisinformation is readily available from your taxreturns, paycheck stubs, and bank and otherfinancial account statements. Remember that thisformula does not consider the actual price ofattending a given college or university--your EFCis the same regardless of whether you attend apublic college with a tuition of $5,000 or aprivate college that charges $22,000.Expectedfamily contribution (EFC) Family income levelTypical EFC range Below $20,000 = $0 & $800$20,000-40,000 = $900 & $3,400 $40,000-60,000 = $4,100 & $7,650 $60,000-80,000 = $8,950 & $12,850$80,000-100,000 = $12,000 & $16,850 Above$100,000 = $17,800 & $33,800
- answered by Kia_1998
Answer #5
Fill out scholarships at all the local businessesand search yahoo for online scholarships.Generally you fill out a form with all yourinformation and write usually a page to 6 pageessay on some topic (ex. you favorite hobby, whyfamily is important, how is protecting theenvironment important....) and they select winnersfor usually $500-3000. The secret is, most peopledont go around filling these out, so if you areany good, its not too hard to win a few. Ipersonally know somebody who paid for 2 full yearsof college like this. Hope this helps you.
- answered by B tizzy
Answer #6
EFC is how much they think your family should havesaved for college--it's always high, but youshould be able to get some partial aidscholorships. Check out Target's scholorships, aswell as earning the Meap scholarship. Also, manyschools have scholarships for members of studentgovernment. Check out your college of choice fortheir scolarships as well. Good luck!
- answered by Crys H.
Answer #7
I know, the EFC is a joke.
- answered by nolyad69
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