<p>I have an EFC of 00010. Does that mean I only have to pay $10... or what?</p>
<p>No, that is NOT what that means.</p>
<p>What it means is that you’ll qualify for about $5,000 in a Pell Grant if you go to school full time.</p>
<p>You’ll also be offered up to $5500 in a student loan.</p>
<p>Where did you apply?</p>
<p>What state are you in?</p>
<p>I have a question also our EFC is 01361 does that mean we are susposed to pay $1361.00 I am so confused this is our first child going to college can someone help please?</p>
<p>EFC is used as an index or benchmark for allocation of federal aid. Federal aid can sometimes cover a student’s cost to attend and commute to a local college but in general will not cover the full costs of tuition/room/board etc. Some colleges and universities are able to meet the full need of students through a variety of federal aid, state aid and institutional aid but many cannot. The amount that cannot be met with federal aid, scholarships from the college, work/study, student loans etc. needs to be paid out of pocket by the student or the parents. On these forums the difference between the EFC and what families actually have to pay is sometimes referred to as GAP. For low income/low EFC families it is important to understand because the gap can be thousands upon thousands of dollars.</p>
<p>*I have a question also our EFC is 01361 does that mean we are susposed to pay $1361.00 *</p>
<p>No. </p>
<p>It’s just an index to find out what federal aid you’ll get. With an EFCof 1361, you’ll get a about $2k in a Pell Grant and likely qualify for a small student loan…about $5500… </p>
<p>what schools is your D applying to?</p>
<p>What state are you in?</p>
<p>My son has applied to UCSD-UCSB nd UCI we are in California, when we completeted the FAFSA the report stated that we could get a Pell Grant for $4400.00 so I am just curious how those work and the CAL Grants. S applied to SDSU also, we checked the Cal Grant website and it said we qualified for both Cal Grant A and B but not sure if you can get both? Also confused about the Blue & Gold opportunity that I am reading about. It seems that these Grants and or Blue & Gold ONLY cover the Statewide fees not housing with seems to be the pricey part so that is what I do not understand. Thank you for helping me out I really appreciate it.</p>
<p>Most schools do not guarantee to meet full need, so a low EFC may still result in high loan expectations.</p>
<p>^To the OPs – Everyone here is saying no because in PRACTICE that does not definitively mean that’s all your family has to pay and when people EXPECT that that is what it means, they end up sorely disappointed because they can be “gapped” – which means there is a gap between how much aid they need and how much aid they’re getting. Some schools are better than others at meeting need.</p>
<p>HOWEVER, the EFC is the Expected Family Contribution so it DOES represent the “theoretical” amount the school – in an ideal, needs-met situation – would expect your family to contribute/have available. </p>
<p>In some cases you will in fact need to contribute more, but may be able to do so via Parent Plus loans. In other cases, you may find that the cal grants plus pell plus student loan eligibility of $5500 plus any other grant or merit money from an institution creates a situation where most of the student’s direct “need” is met.</p>
<p>Colleges will send you a “package” or financial aid estimate (probably in about a month) that will map out what funds are available through the Pell, state, school etc. If you have any questions, you can ask them at the time and they will help you.</p>
<p>kmcmom13 Thank you I appreciate your insight so I guess it is another waiting game. Hopefully something comes along for us so my S can attend college. Again I appreciate your help.</p>
<p>Let me give you an example of EFC being misleading. A few years ago when my oldest applied to our state university our EFC was approx $6,000. The tuition/room/board at instate U was approx $24,000. The “package” we received was:
sub student loan 3500
unsub loan 2000
parent loan (dont remember exact amount)</p>
<p>Thats it. So with an EFC of $6000 a $24,000 school would have cost $24,000 plus interest. Pretty depressing.</p>
<p>WOW Not good at all so what does it take to get a good aid package? Are you in California?</p>
<p>*My son has applied to UCSD-UCSB nd UCI we are in California, when we completeted the FAFSA the report stated that we could get a Pell Grant for $4400.00 so I am just curious how those work and the CAL Grants. S applied to SDSU also, we checked the Cal Grant website and it said we qualified for both Cal Grant A and B but not sure if you can get both? Also confused about the Blue & Gold opportunity that I am reading about. It seems that these Grants and or Blue & Gold ONLY cover the Statewide fees not housing with seems to be the pricey part so that is what I do not understand. Thank you for helping me out I really appreciate it. *</p>
<p>Blue and Gold is free tuition for families who earn less than $70k. However, the website indicates that Pell can be used towards that amount…not necessarily “in addition to.”</p>
<p>As for Cal Grants…supposedly the UC FA offices are supposed to figure out which Cal Grant or other aid gives the student the most money. </p>
<p>It sounds like your EFC is low. </p>
<p>When I’ve seen FA packages for low EFC Calif residents, their packages consist of Pell, UC Grants, Cal Grants, Work-study, and student loans (Stafford and Perkins).</p>
<p>to me, it always looks like housing gets somewhat covered by student loans and maybe summer earnings…and personal expenses gets covered by work-study. </p>
<p>I would encourage my child to get a summer job. He can earn up to about $4000 in “non-work study” dollars and not have it hurt EFC. Work study earnings don’t hurt EFC either.</p>
<p>*Let me give you an example of EFC being misleading. A few years ago when my oldest applied to our state university our EFC was approx $6,000. The tuition/room/board at instate U was approx $24,000. The “package” we received was:
sub student loan 3500
unsub loan 2000
parent loan (dont remember exact amount)</p>
<p>Thats it. So with an EFC of $6000 a $24,000 school would have cost $24,000 plus interest. Pretty depressing. *</p>
<p>This is why the acronym “EFC” needs to change. It is not what families are expected to pay. It’s just an index to find out what, if any, small federal aid you qualify for. And, typically, only those with lowish incomes get “free federal money.” </p>
<p>Colleges are under no obligation to do anything with that number other than determine any federal aid.</p>
<p>Most colleges do not charge a sliding scale based on EFC - mostly because they don’t have the funds to do so. college is expensive and the expectation is that families are supposed to pay. </p>
<p>There are less expensive options…commuting to a local public. “going away” to college is a luxury; one which federal aid (taxpayer money) can’t be expected to pay for.</p>
<p>I agree that EFC acronym needs to change and I would not expect taxpayers to foot the bill for my childs education. My family came up with an alternate plan to pay for our childs education. My point is simply that I know way too many parents new to the wonderful world of college financial aid that see that EFC number and do a little dance thinking thats all they will have to pay. This site is a wonderful source of information. I encourage all the high school parents I know to visit. I for one have learned more here than any school organized financial aid seminar.</p>
<p>Njblue I really hope your comment about hoping the taxpayers pay for your Childs education was NOT directed to me because I can assure you that I am not waiting for that to happen, I only came to this site for some well needed Info and I have received it. Please know that I work for a living and plan on paying for my son to attend a college!!!</p>
<p>My point is simply that I know way too many parents new to the wonderful world of college financial aid that see that EFC number and do a little dance thinking thats all they will have to pay.</p>
<p>I agree…that happens all the time…we see that happen here on CC. I don’t blame families for misunderstanding since the acronym says…Expected Family Contribution…that suggests that colleges are going to charge a sliding scale based on income. Whoever thought of that acronym needs to be re-introduced to the English language.</p>
<p>no collegemom7 my comment was not directed at you. I was responding to mom2collegekids post about finding alternative options when it comes to attending/affording college.I believe most of us are in the same boat when it comes to wanting the best for our children and educating ourselves on the best way to afford it.</p>
<p>about finding alternative options when it comes to attending/affording college.</p>
<p>Right…</p>
<p>I think that sites like CC sometimes can give the impression that a college education has to cost a lot of money and must involve “going away to school” otherwise the student is being denied or that the education will be inadequate. In reality, most kids don’t get to 'go away" to college simply because doing so costs a lot of money.</p>
<p>Many people can figure out how to get the funds to go to a local state school or CC, but to pay for room and board can often just not be do-able.</p>
<p>My EFC says 00000… what does this mean?</p>
<p>I applied to Whittier College, Chapman University, and CSU San Bernardino.</p>
<p>I live in California.</p>
<p>Did you read this thread? Post number 8 and 12 sum up your situation. Pell Grant plus unsub Stafford loan to start.I do not believe your schools “meet full need.”</p>