<p>If a school's tuition is $30,000 and one's EFC is 7000, does that mean the FinAid package will be for that 7000? What happens to the other 23000?</p>
<p>And I'm assuming the finaid package doesn't include room, meals, etc?</p>
<p>If your EFC is 7K and school costs 40K/ 30 K tuition and 10K room and board/ you might get a package of 33K in the best scenario. It will consist of some grants, loans and work study if you put that on your FAFSA.
How good or bad qwill depend on individual cituation. If your above average student for that college and college really wants you, they might send you 70% grants/ scholarships and 30% loans. Collegeboard website has info what schools usual packaging is and whether they go with 100% need coverage.</p>