So i recently submitted my fafsa where i later on received and email with my estimated efc. with my efc being 007070 i was left really confused because i dont know if its thousand or 7 hundred the final zero throws me off.
$7,070.00. Seven thousand and seventy dollars.
Yes.
@jorgep but don’t think that’s all you’re going to have to pay. EFC is just a federal number.
The EFC is $7,070. That means it is too high to get a Pell Grant.
Depending on the state you live in you might qualify for a state grant.
You might get federal work study in your financial aid package and possibly subsidized and unsubsidized loans of up to $5,500.
If your stats are good and the school offers merit, you might get some.
Run the net price calculator on the schools’ websites to see how much aid you might get from a particular school.
The FAFSA EFC is a number that determines eligibility for federal and state grants, some schools that only require FAFSA, not CSS profile might also give institutional grants, but will probably not meet all of your need.
For example in PA a student with a $7,000 EFC might get no Pell Grant, get a few thousand in state grant, get a $3,500 subsidized and $2,000 unsubsidized loan at an instate public university, adding up to less than $10,000. The school’s tuition and fees is about $14,000 at the PASSHE schools, and room and board is at least a other $10,000. So that student will be gapped by $10,000.