<p>I got a efc of 19865
is that good?</p>
<p>What this number means is that according to the federal methodology, based on your parents income/assets they will have to contribute $19,865 to your education. Your best bet would be to ask your parents if this is a good number because they will be the ones who will have to write the check. If it is affordable to them, then it is a good number.</p>
<p>Keep in mind that most FAFSA only schools do not meet 100% demonstrated need, so you may end up paying more.</p>
<p>However, if you are applying to a school that gives its own institutional aid, then you may have to file the CSS profile/NonCustodial Profile or the school’s own financial aid form. If you must file these forms, there is a possibility that your EFC will increase.</p>
<p>If it is affordable to them, then it is a good number.</p>
<p>It’s all a matter of perspective. ;)</p>
<p>It’s better than a $55,000 EFC!</p>
<p>EFCs can exponentially rise with the CSS PROFILE. I am dreading that one, now that the FAFSA is over. We have a low EFC this year with FAFSA and D is attending a CSS PROFILE school. Yikes. It can go either way.</p>
<p>The FAFSA EFC is the MINIMUM amount your family will likely be expected to pay for your college costs for the upcoming year. Since most schools do NOT meet full need for all students (Cost of attendance minus aid)…it is very possible (as Sybbie said) that your family will actually be paying in excess of that EFC amount.</p>
<p>The amount of the EFC is actually not as important as the amount your parents say they CAN pay each year. If they can pay your EFC or more…that’s great. If they cannot…that’s not so great. </p>
<p>Good is a relative statement with regard to EFC as the costs of schools and financial aid policies vary so much from place to place.</p>
<p>The FAFSA EFC is really used for determination of federally funded need based aid. With a $19K EFC, you would not be eligible for any federally funded grant aid.</p>
<p>It’s good that you pointed that distinction out, thumper and sybbie. </p>
<p>I think sometimes families assume that is all they are on the hook for - whatever the EFC is.
It can be more. With scholarships and grants, it can sometimes be less, too. </p>
<p>Aid packages can vary dramatically even from school to school in the same system. I have seen kids aid packages in the UC’s be thousands of dollars different from say, Cal to Davis.</p>
<p>To put this EFC in perspective, you would only be offered loans (Stafford, $5500 as a freshman) at an in state public schol at this level. To be honest, your EFC could be $10,000 or $12,000 and you would probably still only be offered the $5500 in Stafford loans at a state school. If you get any type of merit aid, the amount you would have to pay would be reduced - your aid would not be reduced. </p>
<p>If you are looking at a school that meets need, it is possible you could still get some nice grant aid. However, at such a school you can expect to pay the entire EFC - and possibly more, depending on how the Profile EFC works out (it is not always higher, but often is). And this is not including the $5500 Stafford loans (unless you go to one of the few schools that meet need without loans). So, as others have pointed out, it can be good or bad … depends on your family’s situation.</p>
<p>Our EFC is higher than the cost of attendance at my S’s school. He wanted to go to a different school, which did meet our need … but we would have been on the hook for our full EFC, which we “could” have paid. However, we did not feel that the school was that much more wonderful than others he could attend for less. We pay the full amount for his current school, less a small merit scholarship. It’s more than a lot of people can pay, but it is less than our EFC. Your parents may be able to pay your EFC but not feel it is something they want to do … or they may not be able to pay your EFC … or they may be able to pay it & will do so gladly. You should talk to them! :)</p>