I was just sent my EFC for Spring 2009, is the EFC amount per semester or is it for the year?

Question

My EFC amount is 1185, I am just trying to make a budget for next year. Thanks in advance for the help!

Answer 1

Your EFC is just a code your school will use to determine what kinds and how much financial aid you will get.  It is NOT what you will be expected to pay for your school so it would not be a good figure to determine how much  money you'll need for college.

PS With and EFC of 1185 you will get about 3,581 in Pell grants (half in the fall and half in the spring) if you attend full time and meet about a MILLION other requirements.  If your school is more expensive than this, you will have to get loans or state grants or parent loans or scholarships to cover the difference.

Answer 2

It is for the 08/09 school year, that is a pretty low EFC, so depending on your family size, you will get a decent financial aid package!!!