What is a good EFC number on fafsa?

What is a good EFC number on fafsa?

The overall average EFC is about $10,000, with an average of about $6,000 for students at community colleges and $14,000 at 4-year colleges. Slightly more than half of students have an EFC of $2,500 or less. Slightly more than 10% have an EFC greater than $25,000.

What does my EFC index number mean?

Expected Family Contribution

What is the EFC range?

An EFC can range from 0 to 999,999. For example, if you had an EFC of 0, your family wouldn’t be expected to make any financial contribution. On the other hand, if you had the 999,999 EFC, your family would be expected to pay for your entire cost of attendance.

What does an EFC of 12000 mean?

For example, 12000 is $12,000. This means that the federal government (and colleges) expect your family to be able to reasonably contribute $12,000 per year towards your college expenses. That said, the EFC number is not the definitive amount your family must pay for school. Rather, the number is a starting point.

What does an EFC of 6000 mean?

This means that you will not get sufficient financial aid at MOST schools to cover the Cost of Attendance minus your aid. In other words…there will be a “gap” which you will also need to fund.

In addition. the vast majority of school include loans as part of their financial aid packaging.

How can I pay for college if my EFC is too high?

5 ways to pay for college when the EFC from your FAFSA isn’t affordable

1. Brainstorm with your parents.
2. Negotiate with your potential schools.
3. Apply for state grants and private scholarships.
4. Start a part-time job or side hustle.
5. Consider federal and private loans.

What income qualifies for Pell Grant?

Your eligibility is decided by the FAFSA. Students whose total family income is $50,000 a year or less qualify, but most Pell grant money goes to students with a total family income below $20,000. The total amount of Pell money available to colleges is determined by government funding.

How do I know if I qualify for a Pell Grant?

Go to FAFSA.gov and log in. View your SAR by selecting “view” or print to see what your financial aid award amount is, your Pell Grant eligibility, and what you are eligible to receive for that award year.