I scored a 997 on the Fafsa for the EFC score is that too high good bad? I dont know.?

Question

I scored a 997 on the Fafsa for the EFC score is that too high good bad? I dont know.?

Answer 1

I depends if you have that much money.  The EFC is what the government says your family can afford to pay for your education.  Depending on the college you are planning on going to, you might have grants and loans to cover the college, but they still expect this much to come from you.  Personally, mine was like 13,000 and my best friend's was 0.

Answer 2

This is a good EFC.  The efc is just a code the schools use to determine what kinds and how much money you will get.  It is not what you will have to pay the school.  With an EFC of 997 you will likely qualify for a Pell grant in the amount of 3781.00 if you attend full time.  (Half 1,890 in the fall 08 and another 1,890 in the spring 09).  

You also might qualify for other state grants, work study, and federal student loans.  Congratulations, grants are great because you don't have to pay them back.

Answer 3

That's the estimated amount that your family will have to pay while your in school for that semester ($997). This was based off of the tax information that you provided while filling out your fafsa. Trust the information that I give you. I'm in my junior year of college so I know a lot about the fafsa.

Answer 4

EFC stands for Expected Family Contribution. This number is used by the financial aid office at your school to determine what types of federal aid you might qualify for, and how much.

The school will subtract the EFC from the cost of attendance to determine how much financial aid you need. Then the school will offer you need-based federal student aid up to this number. "Need" is defined by the federal government, not by the school.

With an EFC, the lower, the better.  Based on your EFC, you will definitely qualify for need-based aid. To find out exactly how much, you have to speak to someone in the financial aid office. They are the only people who can tell you how much you will receive.

It isn't a financial aid "score," or the dollar amount you and/or your parents will have to pay. These are common misconceptions and are not necessarily true.