The higher the EFC score, the more you are expected to pay. Families should keep in mind the EFC is usually the minimum a college expects a family to pay. Many times, families will pay much more. A high EFC score means your student will receive less need-based federal financial aid to attend college.

What is the maximum EFC to be eligible for a Pell Grant?

5846
The maximum expected family contribution (EFC) eligible for a Pell Grant for the 2021–22 Award Year is 5846 as compared to 5711 for the 2020–21 Award Year.

What does your EFC number mean if it is not 00000?

What does your EFC number mean if it is not 00000? [ Strategy Alert ]: As referenced above, your EFC number is subtracted from the total cost of attendance of each school to arrive at a financial need number. However most schools do not meet 100% of your financial need number when they provide you with a financial aid award.

What does the EFC number on a student aid report mean?

Realistic Simple Definition of Your EFC Number (“Code”) It is not the amount of money your family will pay for college, it is an estimate. It is not the amount of financial aid you will receive. [Student Aid Report “SAR” EFC Codes] Clarification: EFC Code/s can refer to your family’s number or SAR codes link above.

Where do I go to get my EFC number?

In order to arrive at your EFC, you must first complete the FAFSA (Free Application for Student Aid) form online. The information you provide on the FAFSA, which will include your previous year’s tax return, will affect your EFC.

How is the Expected Family Contribution ( EFC ) calculated?

THE EFC FORMULA, 2021–2022 What is the EFC? The Expected Family Contribution (EFC) is a number that determines students’ eligibility for certain types of federal student aid. This number is calculated with the EFC formulas, which use the information that students provide on the Free Application for Federal Student Aid (FAFSA ®).