EFC is $500, should i even apply for FA?

Paying for College
1

<p>My parent's EFC is apparently just $500. Should I even bother applying for financial aid?</p>

2

<p>Unless the colleges you’re applying to cost less than $500 per year, yes you should.</p>

<p><em>Confused</em></p>

3

<p>but $500 really isn’t that much in the grand scheme of things</p>

4

<p>Either I am reading your question completely wrong, you’ve made a typo, or you don’t know what “EFC” stands for.</p>

<p>EFC = [Expected</a> Financial Contribution](<a href=“http://www.fafsa.ed.gov/help/fftoc01g.htm]Expected”>http://www.fafsa.ed.gov/help/fftoc01g.htm)</p>

<p>Your EFC is a ballpark figure of how much your parents can be expected to pay for college each year. So if a college costs $50,000 per year, you’d be expected to pay $500 per year (although depending on how the college calculates aid, this number will probably be different (most likely higher)), saving you $49,500 per year.</p>

<p>So if your EFC is $500, OF COURSE you should apply for aid.</p>

5

<p>Are you saying that your estimated EFC is $500 or your estimated need is $500??</p>

<p>If EFC, then you will qualify for lots of FA.</p>

<p>If need, then you will qualify for relatively little FA.</p>

<p>x-posted with absent, with whom I agree.</p>

6

<p>It said that I only need $500 worth of FA</p>

7

<p>How do you know that?</p>

8

<p>I’m closing this thread as it’s a duplicate, see the OPs other thread for a more detailed discussion.</p>