I live in VA, not sure if this changes anything.
2007-03-04 06:04:40 · 4 answers · asked by Mim 2 in Education & Reference ➔ Financial Aid
It means that the government thinks you should be able to provide $2933 towards your schooling this upcoming year. The way that number will be used is the maximum Pell grant award for this upcoming year minus $2933 will be how big of Pell grant you will receive. This year that is finishing up the maximum Pell grant award was $4050. So if you were in college this year you would of recieved about $1100 in federal grants that do not have to be paid back in your financial package for the year. This would of been split up into the fall and spring semester (if your school doesn't do trimesters) into $550 each semester of free grant money. This next year congress is trying to raise the maximum Pell grant, and numbers as high as $5100 have been mentioned which will mean your Pell grant would recieve $2200 of free grants if they pass it ($1100 each semester). This number plus loans, student worker programs and any other aid your institution or state is offering will combine to help you pay for your college.
2007-03-04 22:06:22 · answer #1 · answered by hhh_and_steph 2 · 0⤊ 0⤋
They are correct in a way but your EFC is not what you ave to pay it is a general measruement that the government using to show who needs more aid. It is not like you will just have to write a check for 2933 and everything is fine.
2007-03-04 15:31:32 · answer #2 · answered by stein_football 2 · 0⤊ 0⤋
Your EFC is your Expected Family Contribution. This means that your family is expected (based on your FAFSA information) amount of money to pay for college. This is your "out of pocket" amount. Bascially the Federal Goverment only expects you to pay 2933 dollars out of your own money. The rest they expect to come from scholarships and grants.
2007-03-04 14:10:20 · answer #3 · answered by puppyraiser8 4 · 0⤊ 0⤋
The previous post is right on the money
2007-03-04 14:34:30 · answer #4 · answered by eddie4306 2 · 0⤊ 0⤋