<p>My dad and I just filed the FaFSA online a few days ago, and received a EFC of 00020. And I assume that means $20. Which is ridiculous!</p>
<p>Parents are divorced, and father made less then 10k last year after expenses (self employed). House is owned by grandmother and we don't pay rent, so as far as assets go, there's next to nothing. I'm an only child, as well.</p>
<p>There's no special asterisk next to the number, and no signs that make us think we made an error (double checked several times).</p>
<p>So, could someone clarify what this number means? It all seems very subjective.</p>
<p>You live with your dad and your income is not high. Your EFC is completely in line with what I would expect for someone with the income you indicate. But remember, that does NOT mean that college will only cost you $20 per year. The FAFSA only is used to award Federal aid such as Pell Grants (I think you would be eligible), Perkins Loans, etc. Your total payments will depend on the college to which you get accepted, the total cost of attendance there, and the percentage of financial need the school meets.</p>
<p>thumper is exactly right -- but I am not clear on what you find "ridiculous". Could it be that you are not clear on what an "EFC" is? The EFC number you got is the amount that the federal government figures that your family can pay for college -- so they are basically saying your family can only pay $20, making you eligible for the maximum amount of Pell Grants along with Stafford Loans. Depending on the school you go to and the state you live in, you may qualify for additional grant money or loans.</p>
<p>What others says. It seems like maybe you are thinking the EFC is the amount of aid you would get. You WANT the number to be low, not high. The best EFC you can get is $0. $20 is <em>really</em> good. Further, it's low enough you may even qualify to grants instead of loans at some schools. (That is, some schools, both public and private, offer extra grants in place of the usual student loan contributions and work study when the EFC is very low.)</p>
<p>hanSTAR, you are expected to contribute a higher percentage of your money than your parents are - so that 590 is probably coming from your income/assests.</p>
<p>it all depends on whether that money that hanstar earned has been spent -- yes, the school will expect all (or most) student assets to be used for school expenses, but students do get a small income protection allowance of approximately $3000, so I don't think any of the EFC is coming from his income.</p>
<p>Yes, I should note that of my $2800, $1800 was from the work-study program at my school where everything I earn gets taxed then goes directly to tuition.</p>