FAFSA, how much will I recieve?

Question

My EFC is 780 bucks and the school I am attending costs 15000 a year....how much do you think I will recieve?

Answer 1

Your EFC is your expected family contribution. That will be subtracted from the total cost of attending school. The school with then provide a package. It will probably include grants and loans and possibly work-study and/or scholarships. The way it's distributed depends on the funds the college has available. Some colleges give money to you for the full amount. Some colleges make you take out a lot of loans as they have little to give.

Answer 2

It depends on whether you are in graduate or undergraduate studies.  In either case, you will qualify for stafford loans and with your EFC that small you will definitely get subsidized loans.  You might get Perkins loans as well or even a Pell grant.  Also, I don't think the FAFSA takes into account how much your tuition is.  

The financial aid office where you go to school should also be sending you a letter soon about what aid packages you are eligible to receive.