My EFC is 1426. What does that mean????

Question

I was wondering what does all of this mean???

Answer 1

that means the estimated family contribution is $1426, thats how much money they think your family will pay per year towards you college education

Answer 2

EFC is your Estimated Financial Contribution. Which means the preliminary estimate that measures your family´s financial strength. It is subtracted from the Cost of Attendance at the school(s) you plan to attend to determine your eligibility for federal student aid. Schools use your EFC to prepare a financial aid package (grants, loans, and/or work-study) to help you meet your financial need. Financial need is the difference between your EFC and your school´s cost of attendance (which can include living expenses).

Answer 3

On the FAFSA, that is your expected family contribution.

Basically, it determines how much scholarship aid/grants/loans you'll be receive from your university of choice.