Hello everyone. I have submitted my FAFSA a while ago and recieved an EFC of 999999 . I then looked over my FAFSA and noticed my parent made a mistake (she put the parent financial information on the student portion 
) So we corrected that and ‘resubmitted’ it and received a conformation email with a new SAR and EFC number right after I submitted it. This time, the EFC is 387411 :-?. This seems shockingly high and is six digits long, and I thought EFC’s are only five digits… This is really stressing me out. What does this new EFC mean? Does anybody else have a 6 digit EFC? Thank you so much! Any help is appreciated!!
If your EFC is really that high you’re way way too rich to apply for financial aid.
The good news is (pick one!)
- You cannot be charged higher than full tuition and room and board no matter how rich you are and no school actually costs 387K
- You can still print out your FAFSA and check for other mistakes
The EFC top number used to be $99,999.
Now…there is no upper end for high income earners.
To have an EFC as high as the OP…even the corrected one…the income and assets would need to be VERY VERY high…like millions of dollars kind of high.
@mattyicee are your parents very very wealthy? Or…check again…did you misplace a decimal point someplace…or add an extra zero…making something like 50,000, 500,000?.
Or did your parents have a HUGE IRA rollover in 2016.
Did they include the balances in qualified retirement accounts as assets?
To get either of those numbers correctly means your parents would not have filled in FAFSA or had you apply for need based aid (this kind of money makes people shy of such information sharing). So ballpark salary and assets either here on an online calculator somewhere to see if there is a potential error.
Are there multiple properties? Big investments? Self employed?