<p>My efc is 006171 is that good.</p>
<p>what does that mean also.</p>
<p>What your EFC generally means is that you have to pay at least that amount before getting federal Subsidized loans, SEOG (federal grant money) and Work study. PELL grants would be an exception, but your EFC is too high to get PELL. EFC stands for Expected Family Contribution. </p>
<p>The problem is that most schools do not meet need, so even getting need over EFC met fully is a challenge.</p>
<p>The important thing to know is about how much you and your family can afford in college costs. Look for options, like local state schools, schools that have offered nice scholarship amounts to those graduating from your high school with your stats. Schools you know will accept you. Those schools should form the base of your list. From there, you can build upward, in hopes and even expectation of getting sufficient merit and/or financial aid to make it work, but you want to make sure your base is covered first.</p>
<p>It is good to have a lower EFC, but it means nothing if you are applying to schools that are not need blind or not meeting need at all. Usually, prestigious private schools and in state public schools are more likely to meet your need. However, it may be at least partially in a form of loan and work study that you need to earn the money sooner or later. At the end, you are still paying the difference between the CoA and grant/scholarships out of your pocket rather than the EFC.</p>
<p>006171 means that the minimum your family will be expected to pay is $6171. However, as other have said, most schools do not meet need. As a freshman you will be able to take out a $5500 student loan. You will not qualify for a Federal Pell grant. So, for example, at a school which costs $50,000 a year, you could only receive a $5500 student loan, with the remainder of the cost to be paid by your family.</p>
<p>It means that $6100 is the MINIMUM you will be expected to contribute annually. It also means you are not eligible for a Pell Grant as noted above. </p>
<p>I would STRONGLY suggest that you run the net price calculators on EACH of your college websites.</p>
<p>There are sometimes exceptions that you end up paying less than the EFC, but those scholarships are rare and are hard to meet the requirement.</p>
<p>You can end up paying less than EFC if you find a school that costs you less than EFC, or you get scholarships that are substantial enough to cover it. Merit awards are given irrespective of need and EFC, so you can get more awards than your need and apply towards EFC. But for federal aid and the way most schools work it, you can’t so much financial aid that it cuts down your EFC. </p>
<p>But bear in mind that the Direct loans ($5500 freshman year) can be applied to EFC if the school has not already used them towards your need.</p>
<p>If you have high stats (excellent GPA, SAT/ACT scores in the top of your school’s) look at these schools since they meet 100% need and are the most generous with financial aid:
<a href=“Colleges with Need-Blind Admission for U.S. Students”>Colleges with Need-Blind Admission for U.S. Students;