Hi, I received a EFC number of 793 when applying for college assistance.. How much will I be paying for school

Question

It says that 793 is not an amount, just a number that puts you somewhere on chart.. Hmm..

I can still apply for other scholarships and stuff right in addition to this grant?

THANKS!

Answer 1

The EFC is a value resulted from a complex formula to determine your contribution.  Forget that number.  What that means, is that you should be able to receive a good amount of financial aid to cover your tuition, unless you are attending an expensive private university.  Other than your Pell Grant, and perhaps a state grant you may or may not qualify for, you will be receiving your funding in Stafford loans, more than likely.  You will be receiving an award letter from your FAO, listing the cost of your annual tuition, and the financial aid award.  Both tuition and financial aid amounts change on a yearly basis.  Good luck in school

Answer 2

they SAY you will only be paying that amount ( $793) but it may be more depending on your school

Answer 3

it depends on the cost of the school. They use that number to say that u can afford $793 towards school for the year. The school then takes the total cost of tuition, books, room and board(if you'll be on/off campus) and subtracts that and factors in how much aid u will get. Whether that is in Pell grant, state grants, stafford loans, you'll have to wait to see what your award letter says. You'll probably get a letter from the college u applied to soon to verify information like your taxes and stuff. After you take care of that you'll get your award letter. then you'll know.