How much money can i expect with a 830 EFC?

Question

my school tutition is of 5000.

Answer 1

Well it would help if you could tell me if you're going to be a freshman/sophomore/junior...the more credits you have the higher loan amounts you will be eligible for.

So I'm going to just give you a scenario as you being a dependent Freshman:

Your school will allot your budget to include:

Tuition/Fees ($5000 plus whatever the fees are. Usually there is a $100 loan processing fee plus whatever other fees your school charges like technology fees)

Housing

Food

Transportation

Books/Supplies

Personal Miscellaneous

With an EFC of $830, you will be eligible for everything to be covered minus that $830.

Federal Stafford Loans will be available up to $5,500

($3,500 between subsidized and unsubsidized, plus an additional $2,000 unsubsidized)

Grants: Vary by state except for the Federal Pell Grant, which goes up to $4,731 (it depends on what they deem your financial need to be).

So with Stafford Loans you are guaranteed that amount. Grants are variable so all I can tell you is the max Pell Grant amount would be $4,731.

If you could tell me the school I could more accurately give you a numbers rundown.

Hope this helps!