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. However, if your family receives a low EFC number that is still higher than what is affordable, it is not a good EFC number.

What if my EFC is too high?

The higher your EFC, the more the federal government estimates your family can pay for your college education. No wonder many families are caught off guard by an EFC they believe to be too high–this could indicate that colleges will be less generous when making financial aid offers to their students.

Is it bad to have a high EFC?

If you have a high EFC, it means the feds think your family will be able to cover a bigger portion of your cost of a higher education —especially if your EFC is more than the cost of the college your student is attending. In those cases, the government assumes your family can afford all the costs of college.

What is a EFC score?

What’s the Expected Family Contribution (EFC)? Your EFC is an index number that college financial aid staff use to determine how much financial aid you would receive if you were to attend their school. The information you report on your FAFSA form is used to calculate your EFC.

Is a high or low EFC better?

A low EFC means you may be eligible for a larger financial aid package, while a high EFC means you may have to rely on unsubsidized loans to cover any costs your family can’t afford.

How do I lower my EFC number?

Legal Ways to Reduce Your Expected Family Contribution

1. Maximize Household Size. The larger your household size is, the lower your EFC will be (in most cases).
2. Increase College Attendance Among Family Members.
3. Wait Until the FAFSA Considers You Independent.

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 a lower EFC number mean for financial aid?

The lower the number the better for financial aid qualification. Colleges use your EFC Code to calculate your financial aid eligibility. Some people use a formula COA – EFC= Amount You Pay but in reality this understates in most cases what you will pay.

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 ®).

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.