I just filled out my FAFSA & my EFC score was 13. Does that mean my family will have to pay a lot for college?

Question

I just filled out my FAFSA & my EFC score was 13. Does that mean my family will have to pay a lot for college?

Answer 1

EFC means Expected Family Contribution. If you didn't forget any 0's you probably will get a lot of aid. A lot of it may be in loans though.

Answer 2

The Expected Family Contribution (EFC) is how much money your family is expected to pay toward your college education for one year.

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

Based on that, the financial aid office of the schools you listed on your FAFSA will prepare a financial aid package and craft a financial award letter explaining to you exactly what they can offer you in terms of aid.

13 is a low number so you can reasonably expect a decent amount of aid from your school(s).

Good luck!