Hello,
My EFC for 2017-18 FAFSA was 0. This year, it is estimated to be close to 1,000. My situation hasn’t changed other than having worked more hours during 2016. I was let go early this year because the business I had worked for closed. Is working more hours the reason for increased EFC? Is this the amount they expect me to pay for each semester this year or the whole year?
I’m really worried I won’t be able to attend this year.
are you using your 2016 income? If you worked more hours you made more money are your EFC will increase.
With a 0 EFC, were you able to cover school?
This year your PELL should be $4980. The amount that you can brorrow willl increase by $1000
In a roundabout way, probably. FAFSA doesn’t ask about or care about how many hours you worked. What matters most is how much money you made (and your parents, if applicable), how much your reportable assets are worth (and your parents, if applicable), how many other family members are in the household and how many other college students (using FAFSA’s definition) are in the household. Changes in any of these areas can affect the EFC.
So for 2018-2019, your EFC has increased by $1000?
EFC is based on your income…not the number of hours you work.
What was the difference in income from 2015 to 2016?
Your EFC is per-year, so 500 per semester.
Your EFC is not necessarily your net price, that depends on your school financial aid policies.
If your expected income in the coming school year is not expected to be comparable to what you earned in 2016, you can file a financial aid appeal.
Your EFC if you are not an independent student, also depends on your parents’ incomes and assets. Did those change at all?
If you keep your FAFSA reports from year to year, you can compare them to see which lines have changed significantly.
If you worked more hours, does that mean that you earned more income??? If so, then that will increase EFC.
I'm really worried I won't be able to attend this year.
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?? This year??? The FAFSA you filled out is for next year, correct? Your aid for THIS year was based on EFC 0, correct?
The 1000 EFC would be for the full year, not semester. If you need to come up with an extra 1000 for NEXT school year, then work more hours in the summer and save.