<p>Does this seem right? (A EFC of 00030 -- and my parents together make $60,000 a year)</p>
<p>It seems very low for an income of $60k unless you have a larger than average family.</p>
<p>Is being low good or bad? </p>
<p>Also, I have 3 brothers and sisters.</p>
<p>low makes you eligible for more aid. For instance an EFC of 30 makes you eligible for The Pell grant while a higher EFC (4618 or higher) would not. </p>
<p>It still seems a little low even with 6 in the family, but you may have other deductions I am not aware of.</p>
<p>The bottom line is that a low EFC severely limits college choices for most. If you are a top, high stats student who qualifies for the top colleges with great aid packages, it can be a good thing.</p>
<p>If you’re not in the top few percentage points of students and are looking at schools that don’t meet 100% of need, it’s going to limit choice.</p>
<p>In some states, families with your income are greatly helped by in state colleges. In others, most low EFC students have little choice other than community colleges.</p>
<p>To know how a low EFC will effect you, you need to share your state, your grades and scores and tell us where you hope to attend.</p>
<p>Is this good or bad?</p>
<p>I’m a pretty competitive applicant to say the least. My academic stats are well over the schools’ averages. I have good recs’ and EC’s.</p>
<p>Duke, Johns Hopkins University, University of Chicago, Washington University in St. Louis, and Vanderbilt…</p>
<p>What is a low or high EFC?</p>
<p>It honestly depends on what you can pay. The highest EFC you can have while still qualifying for a Pell Grant is 4618 dollars. But if your family can afford to pay $10,000 a year, and your EFC is $8,000, I’d say you have a low EFC. I suppose it’s all relative.</p>
<p>*A EFC of 00030 *</p>
<p>What is that? Is that an EFC of $30 dollars? Is this a mistake? </p>
<p>Or, am I reading this wrong?</p>
<p>Yeah, that’s what it said. 00030 EFC. Here’s what it said below it.</p>
<p>Based on your EFC of 00030, you may be eligible to receive a Federal Pell Grant of up to $5500 for the 2010-2011 school year.</p>
<p>I think it sounds about right - $60.000 with 4 kids and an EFC of virtually 0 dollars. Don’t forget other factors come into play as well.</p>
<p>^^^</p>
<p>I know, but I just ran the EFC calculator with 4 kids, 2 parents, no savings, and an income of $60k, and I got an EFC much higher than that. I got an EFC of nearly $3,000 - not $30</p>
<p>So, I’m thinking a number got put in wrong by the OP.</p>
<p>It means that you won’t be able to afford most college in the country because most colleges can’t meet the full demonstrated need of even students whose parents can afford to pay much more than yours can.</p>
<p>If you have the stats for and good fortune to get into places like Harvard, Amherst or Stanford, you would get excellent financial aid. However, most students with a low EFC aren’t able to get accepted to schools like that, so have to go to a local 4-year or 2-year public, take out loans and commute to that college from home.</p>
<p>I am betting there are write-offs that reduce the AGI. That would result in a 30 EFC. I have seen pretty high income result in a 0 EFC due to write-offs.</p>