<p>So when I submitted my FAFSA, it gave me that confirmation page with all the information about my submitted form, etc. It also gave me an estimated EFC of around 12,500. How accurate is this figure? Preferably those of you who have been through the whole process and are now receiving aid, how accurate was that figure to your actually EFC?</p>
<p>Thanks!</p>
<p>Your EFC will probably be almost exact unless you change youir figures at a later date.</p>
<p>However, your EFC is what your aid is based on…not what your aid will be.</p>
<p>Basically your EFC tells colleges that you should be expected to pay $12,500 per year for college.</p>
<p>But there is no guarantee that any school will just hand you the difference between your EFC and the cost of attending.</p>
<p>Some colleges attempt to meet full need, but do so by offerering work study and loans in addition to grants.</p>
<p>Other schools (most) will not even meet full need and will leave a gap between the package they offer and the actual cost.</p>
<p>So good luck to you!</p>
<p>The EFC will be what it is estimated as unless you have errors in your application that are changed.</p>
<p>It is impossible to tell what aid you will get. It depends on what policies your school has and whether they promise to meet full need. many schools do not. Most schools that do promise to meet full need also require CSS profile. If a school requires profile they will use FAFSA to determine your eligibility for federal aid, and CSS to determine eligibility for institutional aid.</p>
<p>In most cases you EFC will not represent exactly what you will be expected to pay.</p>
<p>The above post is right…</p>
<p>However, don’t assume that with a $12,500 EFC, that that is all you’ll have to pay. Most schools don’t have a lot of aid to give. AND, schools that give the best aid usually require CSS Profile.</p>
<p>With an EFC that high, you won’t get any free federal aid. </p>
<p>What schools are you applying to?</p>
<p>So an EFC of 33359 means what? No aid? Only merit aid? Knowing our financial picture, I’m not sure where that figure is coming from.</p>
<p>When you get your SAR back with the EFC value, it is not an estimate–it is THE EFC.</p>
<p>A $33359 EFC means you won’t get considered for need aid at any school that costs less than that (and may not get much aid at more expensive schools that are not full need.)</p>
<p>I have the same problem! And I don’t even live with my parents and then my EFC is like 6000+ and I’m only eligible for loans -and this is due to their information. Mine would be 0 or the like.</p>
<p>Consider the EFC to be the minimum amount your family will be expected to pay at any college that has a cost of attendance greater than that amount. So if you think your EFC is too high and your family simply can’t pay it, you need to have some less expensive schools on your list as financial safeties.</p>
<p>Then you can be pleasantly surprised if, by chance, you get some merit aid that reduces your actual outlay. :)</p>