Question: Got Fafsa Complete. Here Is My Efc, What Does It Mean?????

[Dental Jedi]

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ok, just got done with FAFSA. My estimated family contribution (EFC) is $22,500.

My schools budgeted first years expenses are $30,000 with $10,000 of that being living expenses.

Does this mean that I will only be eligible for $7,500 ???

How the heck will I pay for the remainder? I have no money?

WHAT IS EFC???

 

[Dental Jedi]

ok, just got done with FAFSA. My estimated family contribution (EFC) is $22,500.

My schools budgeted first years expenses are $30,000 with $10,000 of that being living expenses.

Does this mean that I will only be eligible for $7,500 ???

How the heck will I pay for the remainder? I have no money?

WHAT IS EFC???

Dont everyone jump on this too quick!

 

[tinman831]

You answered your own question... EFC = estimated family contribution.

That's how much they assume you can afford to pay and they will offer you financial aid based on what you still owe.

Total tuition - EFC = amount of federal aid you qualify for (usually subsidized loans).

This is only an estimate and most people never really contribute the entire EFC amount. What you do is take out other loans (subsidized) to cover what you can't pay. Talk to the financial aid office at the school you are going to attend. They'll help you out with all the little details you can't get here. 🙂

 

[Lilstar0024]

I completed my fafsa and sent it in yesterday. How do I find out what my EFC is? Sorry if this is a lame question...

 

[philicity]

I completed my fafsa and sent it in yesterday. How do I find out what my EFC is? Sorry if this is a lame question...

It's found on your Web Submission Confirmation page for sure. Hopefully you saved it....but I'm sure it can also be found elsewhere... 🙂

 

[loveteeth]

ok, just got done with FAFSA. My estimated family contribution (EFC) is $22,500.

My schools budgeted first years expenses are $30,000 with $10,000 of that being living expenses.

Does this mean that I will only be eligible for $7,500 ???

How the heck will I pay for the remainder? I have no money?

WHAT IS EFC???

Usually if u say u are going to professional/graduate school, the EFC should be 0 (Unless YOU make a lot of money somehow). But for most students it should be 0 cause they do not consider your parents money. This way you can get loans for the full amount.

 

[Dental Jedi]

Usually if u say u are going to professional/graduate school, the EFC should be 0 (Unless YOU make a lot of money somehow). But for most students it should be 0 cause they do not consider your parents money. This way you can get loans for the full amount.

so i have to come up with $30,000 on my own.

thats freakin great.

 

[speedy3816]

so i have to come up with $30,000 on my own.

thats freakin great.

lol dude, no... you wont have to "come up" with 30 grand... unless you screwed something up filling out FAFSA, which i'm not sure is possible. like already mentioned, have a chat with the fin aid people at your school 👍

 

[Dental Jedi]

lol dude, no... you wont have to "come up" with 30 grand... unless you screwed something up filling out FAFSA, which i'm not sure is possible. like already mentioned, have a chat with the fin aid people at your school 👍

No, my wife worked last year while I went to school and she makes good money, unfortunately, we are unable to save any of it and she will have to quit her job when we move to the school so we are really broke.

I swear, the people that work in life just get screwed, sometimes I think that your better off to just do nothing and get free aid and welfare from the government like these others who work the system.

 

[hockeydentist]

No, my wife worked last year while I went to school and she makes good money, unfortunately, we are unable to save any of it and she will have to quit her job when we move to the school so we are really broke.

I swear, the people that work in life just get screwed, sometimes I think that your better off to just do nothing and get free aid and welfare from the government like these others who work the system.

What school are you going to by the way??

 

[Dental Jedi]

What school are you going to by the way??

WVU maybe.