My EFC is 90, what does that mean?

Question

My EFC is 90, what does that mean?

Answer 1

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 corresponds to how much 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.

Answer 2

That's what they have estimated you can afford to put towards college education based on the information submitted on your FAFSA.  My EFC was $4,000 for my daughter's education, so that's what they determined I should be able to pay for the year and thus she was offered grants and student loans, the rest I am responsible for.