EFC - Federal Student Aid - What does it mean?

Question

What does an EFC of 2416 mean?

Answer 1

The Expected Family Contribution (EFC) is how much money your family is expected to pay toward your college education for one year. So your family is expected to contribute (though savings, private scholarships, loans, etc.) $2,416.

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.

The same information 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

Answer 2

Estimated (or argued Expected) Family Contribution.  That number (NOT dollar amount) is used to determine your eligibility for Financial Aid.  That number means you are going to get some help.  No one can tell you how much except your FAO, because you don't provide adequate information.

Good Luck