EFC Score? how is it determined?

Question

i just turned 24 and am now completely independent as far as fafsa is concerned, but when i filed my EFC score was higher than it was last year when my parents income was also considered. I also make less money than i did last year. Why would my score go up instead of down, considering the fact that i am in much greater need for aid this year than last?

Answer 1

I would imagine the primary reason would be because of your number in household.  But if you want to see the details on how an efc is calculated....

http://www.fafsa.ed.gov/faq010.htm#faq01...

Go to this link.  Embedded in this link is the PDF for how efc is calculated.

Good luck!

Answer 2

Lots of people count down the days untill they don't have to claim parents info because they think, "Since my folks info isn't included, I'll get more free money."  

Most of the time, it simply isn't the case.  It costs a family of one a heck of a lot less than a family of 4 or 5 to live.  When somone changes to independent status based on age alone most of the time they don't get more free money, they get less or none.   Unless they are living in a cardboard box or the parents basement.

The good news is, as an independent student you will be eligible to borrow more money in student loans.

Answer 3

I would go over all of the info to be sure... Sometimes they fix the EFC after a couple of weeks... but definitely go over all of the info to be sure no extra numbers were entered.

This has happened to me before, but was my error.  If you find there were no errors, i would call.

Good luck!

Answer 4

One of the big factors in determining your EFC is the number of family members and how many family members are in school.  So while the actual income on your FAFSA was higher last year, the # of family members that income was being used to support was also higher.  The income reported this year is only used to support 1 person.

I would double check your Student Aid Report, to be sure you reported ALL accurate information.  If you feel you did, you may want to ask someone at your finanical aid office to compare your tax return to your FAFSA to make sure everything is correct.