What is a good EFC to get financial aid?

What is a good EFC to get financial aid?

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 is the average fafsa EFC?

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 are the EFC ranges?

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 is a high EFC on fafsa?

When it’s put on paper, your EFC is a simple dollar figure. 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.

What can I do if my EFC is too high?

If you find yourself in this situation, it helps to know what are your options.

1. What is EFC?
2. Discuss Your Options With Your Parents.
3. Understand How Your EFC Was Derived.
4. Appeal your Financial Aid Award.
5. Apply For Scholarships and Grants.
6. Work Part-Time or Freelance.
7. Take A Year Off.
8. Consider Private Student Loans.

Why does my EFC start with a 0?

If the adjusted gross income of the student’s parents is low enough, you automatically get 0. This means both the parent’s and student’s assets are not counted in the EFC calculation, and may lead to a 00000 EFC result. A student will also have a 0 EFC if they are considered independent from their parents.