My efc was 15 that means Im responsible for most of my school cost?

Question

Im trying to go back to school and I forgot what all the "codes" mean

Answer 1

The lower an EFC the better.  You practically have eligibility for a full Pell grant with an EFC of that number.  The financial aid office uses this figure to determine how much aid you are going to be eligible for overall at their institution.  Otherwise, the figure means very little to you as the student.  You are responsible for the entire amount of your school's cost, but how much you will end up paying will depend on the amount of grant funding you can receive.  The more you get in grants, the less you will have to pay or borrow in loans.

Hope that helps.

Answer 2

efc is estimated family contribution. This is how much the govt thinks that your family cvan pay for you to go to school. So if you mena $15 then your should get a lot in grants and loans. if you mean $1500 or $15000 then you probably won't get much if anything.