<p>Hello. I got an EFC of 120. Is this a high or low number, and what exactly does it mean?</p>
<p>Its low but different schools will look at it differently so it means different things to different places</p>
<p>Your EFC determines the level of student aid you’re eligible for. Unfortunately, it’s probably not the number you’ll be expected to pay unless the school meets 100% of your need. </p>
<p>At $120, you should receive a Pell grant of $5300 and an ACG of $750 if you qualify based on your high school classes taken. You will also qualify for a Stafford loan of $5500 as a freshman, up to $3500 of which may be subsidized if you have need. EFC is often used for calculating state grant awards too so check your state’s programs for more grants that may be available. Your school may also award you other need based aid such as FSEOG, their own grants, and/or additional subsidized loans like the Perkins.</p>