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Welcome to StudentFinAidInfo
Question: Is 981 EFC a good EFC for the FAFSA??
It depends on what your school will cost. If your education ...
It depends on what your school will cost. If your education is a lot more than that, then yes, it is. If your education will cost less than or equal to that, then no. If the cost of your education is less than or or equal to the EFC, then you will be expected to pay for the whole thing (it is assumed that you can afford to pay for the whole thing yourself). If the education costs are greater than the EFC then the wider the margin, the better - the bigger the difference, the more aid you will get.
Question: fafsa question.?
I have been sent an email that says congratulations on admission to online classes and a student Id #. My fafsa application says processed and in student mail box it says that the application has been received I have received SAR and all that im just wondering what I do next. Do I wait for a letter or something or am I suppose to do something?
when I filled out fafsa I called the scool I go to and ...
when I filled out fafsa I called the scool I go to and the financial aid department took me through it step by step, and im sure other schools could even help you
Question: Can anyone answer this question on the FAFSA for me?
I just filled out FAFSA for financial aid for college and I got report back. On the bottom of the report it said EFC was 00001. Does anyone know what that's supposed to mean? I know EFC is expected family contribution, but that can't mean I'm expected to only contribute 1 dollar toward college.... If anyone has any answers, they would be greatly appreciated. Thanks.
It is a code, you can ask what it means at the financial aid ...
It is a code, you can ask what it means at the financial aid office.
Yes that's what it means. You are only expected to pay ...
Yes that's what it means. You are only expected to pay out of pocket one dollar. You aren't first in line to receive pell grants and the like but you are close. You will probably still needs in loans and such to make ends meet if you don't pay the difference from proceeds of a part-time job and such.
1-800-433-3243 call the FAFSA helpline.
It's highly ...
1-800-433-3243 call the FAFSA helpline.
It's highly doubtful that's an actual EFC. If it was $1 it would say $1.
Call FAFSA and have your SAR available as they will need particular information from it to tell you what it means.
Likely this is a code possibly meaning there is an error on yur FAFSA.
Good Luck.
It's not a code. It means that your expected family ...
It's not a code. It means that your expected family contribution is around 1. However, this is just a number estimated by the government. The actual number will vary depending on the school you apply to and their financial aid package. Also, remember that subsidized loans offered in your financial aid package is not included in this number. Subsidized loans are still considered part of your "aid."
Two of friends have an EFC of 0. One pays nothing, the other pays $2800/yr.
Good luck!
Yep, your family is expect to pay only $1 toward your ...
Yep, your family is expect to pay only $1 toward your college expenses. It doesn't mean you will automatically get a full-ride to a university, it means you are eligible to receive the maximum amount of need-based financial aid (grants and loans).
By completing the FAFSA, you have automatically applied for federal government financial aid awards. Federal grants include the Pell, FSEOG and Academic Competitive Grants, and Federal Work Study (on-campus job). Many states, colleges and universities consider your FAFSA form the only application needed to apply for grants and scholarships they offer. Check with the colleges you applied to see if this is the case.
By completing the FAFSA you also have applied for Federal government low-interest loans (you don't have to accept the loans if you are offered them). Federal government loans include the Perkins, Stafford (subsidized and unsubsidized Stafford Loans) and PLUS loans (PLUS loans are Parent Loans for Undergraduate Students).
When the colleges you have been accepted to send your financial aid award letter to you in March-April 2008, all the financial aid they are offering you (scholarships, grants and loans) will be listed. You can accept or reject any or all of the financial aid they offer you.
By having an EFC of 00001, you should get a lot of federal financial aid. Good luck, I hope this helps.
Question: FAFSA What do colleges do with it?
My EFC on fafsa was 21700..and it said I would not get any of those federal grants...but ill be eligible for aid...can I still get financial aid from the colleges I applied too? and if so how do colleges figure that out using ur FAFSA? Thanks
The school will take your efc and determine how much loan ...
The school will take your efc and determine how much loan money you will be eligible for and what kinds. You will likely be eligible for an Unsubsidized Stafford loan. The amount will depend on your classification and your dependency status. They will offer you this amount in an "Award Letter".
your FAFSA is basically accessible to your college financial ...
your FAFSA is basically accessible to your college financial aid if you apply for aid of course...it roughly determines your income and if ur a dependent your parents income as well, based on that the college will make you a financial aid offer if they think you need it.... no matter what after all they will ask for tax returns and such to see if all ur info is legitimate. they would either offer you a subsidized lone or a school grant/ work study or they might just tell you that you are not eligible...
In simple terms......Your family's income is too good ...
In simple terms......Your family's income is too good for you to get those federal grants....but you can still get loans for college....They figure all this out by looking at your parents' income and they decide how much you should get...it sux but they think they know all your expenses....but don't worry you'll get loans!
Your EFC of 21700 means your family is expected to pay ...
Your EFC of 21700 means your family is expected to pay $21,700 toward your college expenses. This means you will not receive any need-based scholarships from the federal government, state government, or from your colleges.
However, you are still eligible to receive merit-based scholarships from your schools. If your grades are outstanding, your SAT/ACT scores are very good, and you have years of community service and extracurricular activities, you can receive tens of thousands of dollars in merit-based scholarships from the colleges and universities. Private colleges and universities give a lot of merit-based scholarships; public State colleges give very little in merit-based scholarships.
Make sure you have completed all the required applications for merit-based scholarships by calling the financial aid office at each of the colleges you applied to.
Also, you should be offered government loans (Stafford Loans) with good interest rates and a 10-year payback period (or longer).
Both merit-based scholarships and loans offered to you will be listed on the Financial Aid Award Letter you will receive in March-April 2008 from each college you have been accepted to. Good luck!
Question: FAFSA results EFC?
I got a FAFSA number EFC of 21700...will I be getting aid from the government? if not...what will colleges do with FAFSA results?
You will likely qualify for Unsubsidized Stafford Loans and Parent PLUS loans. The amount will depend on your dependency status and your classification (fresh, soph, jr, sr)
Dependent freshman can borrow 3,500 a year in Stafford and parents can borrow more if they have good credit.
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