I recently got a score of 014766. What does this mean? I heard about the 5500 Stafford loan, would I qualify for it? For a more finalized answer should I just wait for the colleges to get back to me?
Your FAFSA EFC is $14,766. Because it’s higher than ~$5k, you won’t qualify for a federal Pell grant. The minimum you can expect to pay for colleges is ~$15k/year unless you get merit aid.
How much can your parents pay? Are your stats high enough to qualify for merit? Run the Net Price Calculator on each school website before you apply. You can take the federal student loan (~$5500/year), but that’s usually accounted for in the calculations so read the results carefully.
In any case, you need to wait for the colleges to send you financial aid packages. You have an EFC of $14766 but it means little if the schools do not meet your need anyway. You are eligible to the loan.