<p>EFC stands for Expected Family Contribution, so, theoretically, your little equation is correct.</p>
<p>(as i understand it, Financial aid = College Cost - EFC)</p>
<p>Alright let see how this works:</p>
<p>$49500 (BC cost) - $65,500 (your EFC) = -$16,000</p>
<p>Well, I'll be damn. This is a first! You actually have to pay BC an extra $16,000 on top of everything. Since BC is giving you $0 instead of charging an additional $16000, I'll say you already have a $16,000 scholarship. Congratulation on your scholarship.</p>