$60.00 is a really random number.

system February 17, 2007, 11:25pm #5.

It only makes sense if your parents have very low income and no assets.

So what it means is at schools that meet 100% of need (not many), that will be your family contribution.

What is a high EFC number?

Any person with an EFC number at 0 will receive the maximum amount of student aid, while a number over 5273 will result in no aid at all. The numbers, and the amount awarded, fluctuate annually. The closer you can get to zero, the more federal dollars you’ll have to help pay for tuition and fees.

What does a string of 0s on an EFC mean?

If your EFC has a string of “0s” it means that your Expected Family Contribution is $0. This means that given your family’s financial situation, the college in question does not expect your family to contribute any amount of money to your education.

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 happens when you reduce your EFC number?

Remember, when you reduce your EFC number you will ususally lower your funding gap which lowers your total out-of-pocket college costs. A family’s demonstrated financial need (DFN) is the Cost of Attendance (COA) less the family’s EFC number. The projected financial aid award multiplies the DFN times the school’s average percentage need met.

What does the EFC number on FAFSA mean?

Basic formula, total cost of attendance minus your EFC number equals your family financial need. When your score is o0000 colleges consider your financial aid need “exceptional” and often times use the term “full-need student” (not to be confused with “need met” by each college explained below). What does your EFC number mean if it is not 00000?