<p>What is this efc i keep hearing here?</p>
<p>EFC is Expected Family Contribution. It is the amount that your family is expected to contribute toward your college education annually as computed by the FAFSA form.</p>
<p>But I don't know anyone that pays only this amount. I wish we were that lucky. </p>
<p>Often colleges provide loans to students and parents to cover a large portion of the amount beyond their EFC. </p>
<p>So, for example, you may be required to pay $5,000 EFC (gov't says you can afford this amount). The college may give you $10,000 in grants and $15,000 in loans (so you are actually responsible for $20,000). It really varies from school to school.</p>
<p>Many people start out thinking that all they have to pay is the EFC and then face reality when they get the fin aid info from college in Mar/April. If your EFC is below $4000, you are more likely to have your costs covered, since Fed $ is available. </p>
<p>Has anyone with a EFC over $4000 (and thus not eligible for Pell grants, etc) been lucky enough to get enough grants to cover all but their EFC?</p>
<p>EFC is the parent contribution. Student loans are the student's contribution. 2 different things. That said, some of the top colleges, Princeton and Brown, have no student loans. Others, like Harvard, have no student loans if you family makes a low income.</p>
<p>That is correct. EFC does not include the finaid you receive. It is the amount your family (not just parents, but the student also) is expected to contribute. It is also true that many, many schools do not make up the difference between the EFC and COA (cost of attendance) leaving students and families with having to cover the additional costs. Also, what many families feel they can contribute and what is computed as EFC by using the FAFSA often do not match up. For example, our EFC was over $40,000. Did we "feel" we could pay that much....well...NO. But that was the expectation based on the information we supplied (which was based on our income and assets). Also, the EFC doesn't take into account what families WANT to pay. There have been many students on this forum who have posted that their EFC was very high, but their family wasn't willing to contribute that amount. That is not considered, nor should it be in my opinion.</p>
<p>I love williams. my Efc is 443 and they gave me a work study, no loans, and said i had to cover 613 bucks from summer work and student assets. Sigh... what a relief.</p>
<p>where can you find out your efc?</p>
<p>Your EFC is on the response you got after your parents filed the FAFSA way back when......but you've already been accepted at at least one school, right? So haven't you already received your financial aid package?</p>
<p>COols,
Congratulations on you Williams acceptance. I have written many times it was my favorite school that my child did not attend.
I understand why you love Williams. As they do walk their talk in trying their best to make a Williams education affordable. Williams also believes in no hidden cost so once you get to campus, you will never feel that you won't be able to do things on campus because you are not as wealthy as others. Movies are $1, concerts are approx $5. </p>
<p>In addition there is the 1914 Library which serves approximately 850 Financial Aid students who are entitled to borrow books from a 10,000 volume collection. At this library you can borrow a text book for the term from the Library (first come, first serve). If the Library does not have the book, they will give you a $60 voucher toward the purchase of it (book must tbe returned to the library). </p>
<p>Unless there are any major increases in your families finances, your aid package will remain pretty consistent over the next 4 years. Your family must be thrilled by the fact that you will get an education at one of the best colelges in the country and it will be affordable. Have a great time in Williamstown.</p>