how much aid can i possibly get if my EFC is 692, and the college is cost about 14500?

Answer 1

First, keep in mind that any responses you receive to this question can only be estimated. There's a lot more than goes into a financial aid package than I can determine based on your EFC.

Assuming you are a full time, first-time Freshman and, you should receive a Pell Grant of $3,660, and a Subsidized Stafford Loan of up to $3,500. If you are an independent student (officially, as determined by your FAFSA), you can receive an additional $4,000 in Unsub Stafford Loan funding.

These are the only "definite" awards I can tell you about.

If your school has an allocation of Campus-Based Aid, you might also be eligible for a Perkins Loan and an SEO Grant. The maximum undergraduate award for both of these funds is $4,000 but most schools will offer substantially less (perhaps 1/2 the maximum). Schools with Campus-Based Aid may also have Federal Work-Study funding to give you. The amounts of this funding will vary widely from a couple hundred to a few thousand.

Many schools offer their own institutional funding, but the criteria for this funding vary so widely (from $0 to full tuition) that I can't even speculate as to how much your school can provide. Some of these awards might not be need-based, either.

It's important to know what, just because your EFC is $692 doesn't mean that you won't have to pay more than that. An "EFC" is simply an estimate of a student's ability to pay for college. It should not and cannot be seen as "the amount that financial aid will not cover." Some schools will simply not be able to meet your full need (i.e. the difference between your costs and your EFC).

Answer 2

EFC refers to Estimated Family Contribution, and it depends on the school. It is a great score for receiving a Pell Grant, but you will not receive the maximum amount for it. Depending how fast you completed the FAFSA and turned it in, you could get some scholarships from the college itself. Also, there is the small possibility of a student loan. However, it might pay to seek out some outside scholarships using free sources.

First, current high school students can locate local scholarships at the high school guidance office.

Second, the public library has a book listing scholarships with some not even listed on the web.

Third, your high school guidance office has a list of local scholarships. for current high school students.

Finally, I recommend joining several free membership scholarship search websites. There are scholarships for a variety of things including ethnicity, clubs, hobbies, and even wearing duct tape to the high school prom. Most are updated on a regular basis. Most offer a customized search based on information entered onto a form on the website.

Good luck!