<p>i just filled out a FAFSA4caster to get an idea of my eligibility for federal student aid.</p>
<p>i'll be attending a local community college if that helps. i'm a dependent student and my mother is single, and we're low income.</p>
<p>my EFC was 125, what does this mean? i've read posts about people's EFCs being 4+ digits. </p>
<p>what kind of effect will an EFC like this have on my eligibility, etc,.? basically, what's this mean?</p>
<p>This year, a student with an EFC of 125 would get a Pell grant of $4581 for the year. The grant will probably be more next year (but the amount isn't for sure yet). I imagine a community college will cost less than the amount of the Pell grant ... but the good news is, you will still get the entire grant. The Pell is magical! Basically, a 125 EFC means that the government determined that your family can contribute $125 a year to your education. Now, this does not mean that that is necessarily all you WILL have to pay. If you go to a school that costs 15,000 a year & they don't award you enough financial aid to cover your costs ... you will still be responsible for the difference between your aid and the costs. So really, the EFC is a number that is used for financial aid purposes - but it doesn't mean that it is the amount you will actually have to pay.</p>
<p>Your EFC is low, which is why you will receive a Pell grant. If the cost of your college is more than the Pell grant, you would be eligible for additional funds ... but there is no guarantee if you will get any money or how much (other than loans). The Pell grant is the only "guaranteed" grant. However, since you are planning on attending a CC, you will probably have your tuition covered by the Pell grant, anyway.</p>
<p>I will add, though, that your actual EFC might be different than the EFC you got on the 4caster - you may have input info incorrectly and/or your numbers might change when you go to fill in the fafsa.</p>
<p>thanks for the info!
i'll be filling out a fafsa pretty soon (since i'm starting this spring semester, would it be more applicable to apply for a 2008-2009 school year more than 2009-2010?) and if i do fill out the 2008-09 fafsa, it would be all of the same information so i'm not expecting too much of a difference.</p>
<p>If you are starting this spring then it is the 2008-2009 FAFSA you need with 2007 income information. The 2009-2010 FAFSA is for the 2009-2010 school year which would require 2008 income information.</p>
<p>okay, i just submitted my 2008-2009 FAFSA, and it now told me that my EFC is zero. is that wrong or possible? what's that mean?</p>
<p>It means your EFC (expected family contribution) is 0. This does not necessarily mean you will end up paying 0 as many schools do not promise to meet full need. But it should make you eligible for some grant aid such as the Pell grant (1/2 a year of that would be @$2365) and possibly some subsidized loans. </p>
<p>As you are applying half way through the year it is probably too late to qualify for certain aid. For instance my son applied for aid in August and was too late for a state grant as it had an April deadline (that would have been April 2008 for the 2008-2009 school year) and for a federal grant called SEOG. So make sure you also submit the 2009-2010 FAFSA soon to apply for aid for next fall.</p>
<p>when should i submit the 2009-2010 FAFSA?</p>
<p>you should submit the 2009-2010 FAFSA as soon as you have the numbers to complete it. (Your school will have a specific deadline posted somewhere on their website, but most 4-yr universities want them by the Feb-Mar timeframe).</p>
<p>i just received and printed my SAR, what happens now?</p>
<p>First ... some schools have what is called a "summer header." That means that their aid year goes spring/summer through the following winter term. <em>Most</em> schools have a "summer footer," with the aid year going fall through spring/summer. We have a community college and a state U in our area who use summer headers. You need to check to see which aid year your school uses, because that influences which FAFSA you need for the spring term. Just call the financial aid office and ask which FAFSA you need to fill out for spring classes.</p>
<p>If you sent your FAFSA to the school, you are done with your end of the deal. The school will either contact you for more info (if you are chosen for verification) or will just send you an award letter once they get to that point. You won't get anything from the school until you actually enroll in a degree program at that school. Once you do that, the financial aid office will begin to process your file. If the school is like the one where I work, you will not hear anything for awhile - we are still working on processing winter aid. Hang in there.</p>
<p>If you are going to a Community College and are living at home, it's possible that the Pell Grant will cover most of your tuition costs. You need to check the costs of attending the Community college to find out for sure. Good luck to you!!</p>