My school told me I dont have to pay anything that everything is covered? if the number is 00000* is it covered??? Please help! 10 points to best answer with most knowledge
2006-07-19 10:34:06 · 12 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
EFC stands for Expected Family Contribution. since yourEFC is 0, you don't need to pay any
2006-07-20 05:31:18 · answer #1 · answered by gingben 4 · 10⤊ 5⤋
1
2016-12-20 04:07:36 · answer #2 · answered by Anonymous · 0⤊ 2⤋
Efc 00000
2016-12-17 16:34:59 · answer #3 · answered by tedesco 4 · 0⤊ 1⤋
EFC is the Expected Family Contribution, and means just that, what they expect your family to contribute to your education costs. Since yours is 00000, like mine, that means that you are not expected to have any outside source of income contributing to your education costs. This means that you are relying solely on grants, loans, scholarships, and stipends to pay for your education, and any other expenses incurred in the pursuit of it. When they do your profile, they inlcude living expenses, etc... So they are looking at the total cost for you to attend school. Usually, you get this status if you are over 25, have dependents, and/or cannot be claimed on someone else's taxes. You also have to make less than the yearly maximum either on your own, or including your spouse's income.
On your award letter, it says something like student budget, meaning what you need, then it lists your awards, and says something like unmet need, which is the difference between what they think you'll need and what you actually received from financial aid. I have found that I am able to live off of the leftover amount just fine. I still have to work, but it does cover most of the cost. Depending on where you go to school and how much tuition is, the "unmet need" shouldn't effect you too much. Because of your EFC, however, you may end up having to fill out forms like at my school its called worksheet c. Its basically just a breakdown of how I am actually paying my bills. Since I am depending on school money, it doesn't always show up as income, so, like one year, it looked like I lived off of $1000 all year.
Pretty much, it means you're on your own, and they know it. They will help pay for your education. Your status will help you get federal scholarships sometimes ahead of others though. Some programs award people with a 0 EFC first, then if money is left over, they go to the next lowest EFC level.
Good Luck!
2006-07-20 11:24:10 · answer #4 · answered by godluvsmommas 2 · 19⤊ 1⤋
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RE:
My EFC on my fafsa says 00000* what does this mean???
My school told me I dont have to pay anything that everything is covered? if the number is 00000* is it covered??? Please help! 10 points to best answer with most knowledge
2015-08-07 05:05:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
First off I want to congratulate you on not having to pay to attend college its a great reward to move you up.
The EFC stands for Expected Family Contribution it means that is the total amount of money that the government expects you or your family to pay towards school, and if yours says zero that's what you pay.I just went through this myself but I was supposed to pay 4595 and since there is no decimal points or comas I wasn't sure what the total cost for me was. I had to go to the school and the director of Financial Aid walked me through the entire program. I have wound up not having to pay hardly anything because I live on my own, and have the bills that come along with that. She also suggested that I fill out for some scholarships, which I haven't heard about those yet, but it will help with getting more in the future in case my EFC ever goes up. I would talk to your schools director of Financial Aid and see what else you can do to prepare yourself for future years at college.
2006-07-20 05:37:24 · answer #6 · answered by Tigger7 2 · 6⤊ 1⤋
EFC stands for Expected Family Contribution. Basically, that means that they don't expect you or your family to pay anything, so most of your needs should be covered under your financial aid.
2006-07-19 10:37:40 · answer #7 · answered by The Apple Chick 7 · 4⤊ 1⤋
That means that you will be eligible for the maximum pell grant, which is free money to attend school. However, you should ask your financial aid office if you qualify for any additional grants. Make sure to read your award letter and all of the materials that come with it. If you can avoid taking out a loan, you should do so b/c you may need one later on in your academic career. So you don't want to accumulate large debt if you do not have to.
2006-07-20 03:15:10 · answer #8 · answered by Nicole P 2 · 4⤊ 0⤋
It means that you won't have to pay anything. The EFC is the Estimated FAmily Commitment. They are telling you that everything is going to be covered. Congrats!
2006-07-19 10:46:43 · answer #9 · answered by tina9599 2 · 7⤊ 1⤋
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2016-08-01 06:13:58 · answer #10 · answered by ? 3 · 0⤊ 0⤋