WHat does my EFC score mean?

Question

I Looked at my EFC score and it was 6003, what does that mean.

Answer 1

It means you will qualify for federal Stafford student loans but no Pell grant.  The max amount you can borrow depends on your classification (fresh Jr senior) and your dependency status.  Dependent freshman can borrow up to 3,500 their first year.  You do not need a cosigner or have to pass a credit check.  Here is a good book with more detail about EFC and how they determine it.