2007-04-02 15:20:21 · 4 answers · asked by Justin C 1 in Education & Reference ➔ Financial Aid
An EFC score of 0 is a great score. It refers to expected family contribution. It means that you qualify for the full Pell Grant amount and help from the college itself. You should in the next few weeks be getting a letter in the mail from the college itself in regards to the entire composition of your financial aid package. The amount should come close to or more than $40,000. I have included some places to learn more about it, and in addition, I have included some scholarship places to be on the safe side if more money is needed. However, you have to start looking for it now since application deadlines are fast approaching. Good luck!
2007-04-02 17:30:25 · answer #1 · answered by dawncs 7 · 0⤊ 1⤋
Along with the advice already given, be aware that a zero EFC doesn't mean you get an automatic free ride :) Each college determines the amount and forms of financial aid you receive. Three colleges all costing $40,000 will give you three financial aid packages that may vary greatly. One may give you lots of grant money and little loans, another may give you lots of loans and work study but little grant money, and another may give you a completely different combination of aid. The aid you receive is determined by the college's financial aid department and their policies.
If you find the college you want to attend doesn't give you a satisfactory aid package, I suggest applying to one or two other colleges and "shop around" for the best financial aid package.
2007-04-02 20:48:17 · answer #2 · answered by reisa2 3 · 1⤊ 0⤋
My daughter is in the same position. What this basically means is you expected family contribution is 0. You will max out for your state grants, pell, etc, however, it will not meet the cost of tuition for a 40000/year. Even if you take out school loans (and there are maxiums for college freshman), you still may not make enough to cover tuition. Are you going to do any work study programs? this may help and it is stated on the FAFSA that you qualify. My best suggestion is to apply for as many scholarships as possible--also ask your school's financial aid if they have any funds for disadvantaged students, also inquire as to if they have any additional grants that you qualify for. Like I said, we are scrounging to get my daughter into this university, but it is a good education and we are looking at the fact that we will have to either take out student loans or go to a public university. Good luck!
2007-04-02 17:22:56 · answer #3 · answered by Debbie V 1 · 1⤊ 0⤋
EFC is estimated family contribution.. i believe. This means your family is not expected to help you pay for college either because they can't afford to or some other reason, which means you probably qualify for free financial aid.
It's a good thing.. :)
Hope this helps. Good luck with college!!
2007-04-02 15:25:43 · answer #4 · answered by miss_little2004 2 · 1⤊ 0⤋