My EFC is 11249? What does this mean?

Question

Based on the information we have on record for you, your EFC is 11249. You

are not eligible for a Federal Pell Grant but you may be eligible for other

aid. Your school will use your EFC to determine your financial aid eligibility

for other federal grants, loans, and work study, and possible funding from your

state and school.

We have forwarded your name to Selective Service for registration, as you

requested.

WHAT YOU MUST DO NOW (Use the checklist below to make sure that all of your

issues are resolved.)

If you need to make corrections to your information, select the 'Make

Corrections' button at the bottom of the page. You must use your Federal

Student Aid PIN to access your record online. If you need additional help with

your SAR, contact your school's financial aid office or the Federal Student Aid

Information Center at 1-800-4-FED-AID (1-800-433-3243). If your mailing

address or e-mail address changes, you can make the correction online or call

1-800-4-FED-AID and ask a customer service representative to make the change

for you.

There is a new federal student aid program for students who plan on becoming teachers.

If you are interested, you should go to www.teachgrant.ed.gov to learn more and find out

what steps you must take to be considered for the program. If you cannot access the

website, you should call 1-800-4-FED-AID (1-800-433-3243)

What does this mean?

Will i get Financial Aid?

I need money by this friday?

Where can i get loans or grants for just $900 this semster and pay off before the second semester?

Answer 1

your EFC is pretty high, meaning either your or your parents have made much money last year.  however, your school determines if you qualify for financial aid or not.  if not, they'll let you know if you can get a loan and at what amount as well.  you should go see the financial aid counselor before your classes get dropped for not paying tuition yet.

Answer 2

EFC = Expected Family Contribution. It usually takes a little longer than a week to receive the financial aid. However, when you do - it is directly deposited to your school (which makes the process faster.) You might actually receive more than $900 -- and the rest of the money will be mailed to you in a form of a refund check. Save that money in a savings account in order to pay off future education.

Basically, your family is expected to pay $11,249. If a school year costs about $15,000, then you might receive about $4-5 grand. If it's less than $11,249, you might not receive too much at all. Try going for scholarships!

Good Luck!

Answer 3

It means you won't be getting any grants (free money) because your and your parents income is too high. This means you will be offered federal Stafford loans from your schools financial aid office on your "Award Letter".  Which apparently you don't have yet.  

So this means you need to call your college and ask them if they need anything else to get an award letter issued to you.  Most folks who are starting school now (fall) did their financial aid applications back in Feb/march, so you are very late.  Don't plan on your school getting any money before friday. Financial aid is a process that takes sometimes from 6 to 8 weeks start to finish.  

Sorry dude, some schools will let you have an outstanding balance if you are waiting on fin aid, but not all.  Maybe your school will have a payment plan you can get on.  

Answer 4

Wow, that is an extremely high number. It means that is what you are expected to pay OUT OF POCKET. The government and/or university will help out with any other costs. A few tips:

1. Apply for university scholarships or government grants of course.

2. If your parents are divorced, use the parent that makes less.

3. This number could change from now until school ACTUALLY starts, mine has fluctuated three times already