EFC for college?

Question

Okay, so I filled out my FAFSA yesterday, and I checked it today...it says I should have $3,072 EFC. That seems a bit high, especially considering that my parents only make $35,000 a year {only my dad works}.

My college is going to cost about $7,000 a semester. Does that mean they literally expect me to pay over $3,000 of that, and that FAFSA will probably only give me about $3,000?

Answer 1

This will explan better but you will be eligible for a partial pell grant and student and parent loans as well.

Your EFC is not the amount you will have to pay for school, nor is it the amount of money you will recieve.

Answer 2

No! That means your parent's contribute about 3,072 in your education.  By having that EFC you will only get so much pell, not very much at all.  I am estimating maybe 500-600, but that is a rough estimate.  You will have to apply for student loans which a subsidized loan you can get $3500 for the year, and have your parent's apply for a PLUS loan so you can get an unsubsidized loan for $4000 a year.  This will not be enough if tuition is 7,000 so you will need to apply for scholarships.  Also, ask your financial aid office about the GO Grant, LEAP Grant, SEOG Grants.