My EFC is 01458*...What does this mean???

Question

I know the asterisk mean that the college i am going want

to verify the information i used, but what does the zero at first mean??? is it 0.1458??? or whatt???

Answer 1

you will pay 1458.00 out of your pocket for school per year.. financial aid is available to cover the rest or most of the rest.. take cost of college, subtract 1458.00 and whatever's left is the amt you should be able to get in aid... plus extra for books, fees, transportation, housing, etc.

Answer 2

It's 1458.  An EFC is the figure that the US Department of Education and your college's financial aid office will use to determine your eligibility for financial assistance. It is NOT what you will have to contribute out of pocket for your educational expenses. Your EFC directly correspondes to how much, if any, Pell Grant you are eligible to receive. At the school, the aid office will take your Cost of Attendance (as determined by the school) and subtract your EFC to determine your financial need. The aid office will then try to meet your financial need with financial aid based on federal and institutional policies.