How to interpret my EFC score?

Hey everyone,

I recently filed the FAFSA and received a score of 041549. What does this mean and how do I interpret it? Should I be expecting any aid? I’m not very knowledgable on this stuff. Thanks a lot!

Your FAFSA EFC is $41549. For one year. This means that your family will likely be expected to pay AT LEAST that amount when you attend college.

But there are exceptions:

  1. If the school costs less than that...you would pay the amount the school costs.
  2. If you apply to and are accepted at HYPSM they have generous need based aid for even higher family incomes. You might get some need based aid from them.
  3. You can apply to colleges where you are eligible for merit aid...and hope you get it. Merit aid is NOT income dependent.

With a $41,000 EFC per fafsa, your family income is in the $125,000-$160,000 range…or so…OR your family has significant assets too.

Did you expect to get need based aid, and if so how much?

That means an estimated family contribution of $41,549. Generally, you should look at that as the minimum you would pay without any merit aid.

So, a school that costs more than that MIGHT offer you some grant money, and/or suggest some loans and work-study to help cover the difference between the COA (cost-of-attendance) and your EFC.

Some schools also use the CSS Profile, and have their own way to calculate your EFC, which can be different from the FAFSA.

Every school has a Net Price Calculator (NPC) on their website. That’s a good way to see what a school is likely to offer in need-based aid. You should also explore whether the school offers merit scholarships.

“So, a school that costs more than that MIGHT offer you some grant money, and/or suggest some loans and work-study to help cover the difference between the COA (cost-of-attendance) and your EFC.”

I know you said might but I just want to emphasize to OP that any aid is really improbable. The vast majority of colleges don’t commit to meet full need, so you’re probably looking at no financial aid… just merit, if applicable.