financial aid question.....please answer?

Question

will i get financial aid if my EFC is 02107........is that good news or bad news for me?

I have no idea what EFC is but that is what it said online for my submitted fafsa

Answer 1

The Expected Family Contribution (EFC) is how much money your family is expected to pay toward your college education for one year. Typically, the lower your EFC, the more financial aid you will receive. Factors such as family size, number of family members in college, family savings, and current earnings (information you provide on the FAFSA) are used to calculate this figure.

Your EFC is also sent to the schools you listed on the FAFSA. The financial aid office will use your EFC to determine your financial need.

Need is defined as the difference between the cost of attending college and your EFC:

Cost of attendance (COA)
– EFC
= Financial need

Based on that, the financial aid office will prepare a financial aid package and craft a financial award letter. Your award package can vary from school to school.

So, you should be hearing from your schools soon with what they can offer you in terms of financial aid. In the meantime, make sure you apply for scholarships as well. You can apply year-round.

Answer 2

Dear Heart; Many of us haven't the foggiest of what you are talking about. What is EFC? What is the significance of "02107"?