2007-10-20 11:40:17 · 4 answers · asked by left_sock_ missing 3 in Education & Reference ➔ Financial Aid
It really means you're poor as dirt and there is no way you'll be able to contribute much if anything to your college education. At most colleges, you will be eligible for the highest possible need based funding (especially grants and subsidized loans).
Going to college should help you get out of that "poor as dirt" situation but it also means that your time in college will be tight financially. You won't be in a position for too many extras. But, if you keep a tight belt and keep your costs as low as possible, you'll do just fine.
Don't give it up - go for it. Good luck. It can be done, my wife started college with an EFC near 0 and now has two bachelor's and is working on her master's.
2007-10-20 11:50:45 · answer #1 · answered by CoachT 7 · 1⤊ 0⤋
EFC is your Estimated Family Contribution for your education, as determined by the Department of Education from the information you provided on your FAFSA. What this means is that you will get the maximum amount of Pell Grant money that you are qualified for and that your family does not have to contribute. It's based on income.
2007-10-20 11:44:45 · answer #2 · answered by The Pirate Queen 3 · 1⤊ 0⤋
Different schools require different EFC levels to qualify for financial aid. The lower your EFC, the more chance of you qualifying for financial aid and various programs your school may offer.
2007-10-20 11:43:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It means your're lucky...the lower your EFC is the more financial aid you qualify for.
2007-10-20 12:36:06 · answer #4 · answered by Kute_N_Pretti 5 · 1⤊ 0⤋