<p>mine was something like 1000 bucks. Scholarships already have that covered for four years anyways if I get full financial aid. What range of income does EFC become 0?</p>
<p>so whatever number our EFC is, that is how much they think we will be able to pay? so if my EFC is like 400, does that mean that they expect us to pay 400?</p>
<p>Yes, that's how it works.</p>
<p>EFC = Estimated Family Contribution
EFC = 400</p>
<p>They expect you to pay $400</p>
<p>You're quite lucky!</p>
<p>Yea that is what EFC means but also keep in mind that this is what the Federal Government thinks you can afford to pay. It doesn't mean that individual colleges will necessarily match the difference between the Fed's EFC and the cost of the school. It depends on the school's policy.</p>
<p>Before low-EFC students celebrate... note that even colleges that meet 100% of need may do so in large part with loans.</p>
<p>EFCs can seem absurd because they have little to do with disposable income (which is how most of us gauge affordability), and everything to do with total income and specific asset types. A family with high income or assets may be struggling to pay monthly bills, but will still get nailed for a high EFC; conversely, a family with lower income but low monthly expenses may have surplus cash flow... AND a reasonable EFC.</p>
<p>"What range of income does EFC become 0?"</p>
<p>I want to know too.</p>
<p>I feel like my EFC should be 0, but have no idea how FAFSA works and at what level is becomes 0. Not that I'm complaining about my EFC.</p>
<p>Mine was pretty much what i was expecting and generous as my parents don't have a great deal of income. we have paid off the house and a sibling in college. </p>
<p>How much does CSS usually differ with Fafsa in terms of EFC? Are they usually within 5k or so, or is it greater in some instances?</p>
<p>my EFC was a 70. that's what i was confused at first. i couldn't believe it was that low. i thought it meant percent or something like that. but i'm clear now.</p>
<p>having an EFC of 0 or close to it is not lucky at all.</p>
<p>I agree fully, Ayudell. Some kids are immediate in their conclusions and don't figure how tough it is to live on a daily basis if the family income is so low as to get an EFC of 0 or close.</p>
<p>"Some kids are immediate in their conclusions and don't figure how tough it is to live on a daily basis if the family income is so low as to get an EFC of 0 or close."</p>
<p>Well, see that's where I'm confused. My EFC should be 0, because my family income is that low, but it isn't. But the discrepancy between 0 and my EFC is so minor that it really isn't worth the time and effort to find out. Just an interesting thought to this brat.</p>
<p>So in any case, I'm just curious to know what range your income should be in order to get an EFC of 0.</p>
<p>You can experiment with CC's EFC</a> calculator and play some what-if games.</p>
<p>Thank you very much for that comment Ayudell. My EFC is low, and I am grateful for that, but if it weren't, then I'd have quite some trouble attending any private college. I mean, when i think about it, many colleges' tuition is more than twice what our income is.<br>
By the way, does location play a factor at all? A person living on let's say, $30,000 in the Northeast is going to struggle a bit more than someone living on that same income in another part of the country.
But back to that other comment, I really appreciate it. Thoughtful of you to mention it.</p>
<p>COols875, that is a weakness of EFC. It does NOT take into account where you live. It also does not take into account whether you are paying a mortgage/rent or if your house is paid for. It also does not take into account what your previous years' incomes have been. Nor does it take into account, things that are happening right now that could affect our family's ability to pay for college--job loss, illness, etc. You can write to the individual college and let them know of any of these individual circumstances and developments, but FAFSA does not take note of them as it is base on the prior year income and expenses; for this year 2004. So someone who has made a lot of money for many years, bought a big house and piece of land--no mortgage, in the middle of no where, but took a low paying job last year, would get a low EFC, whereas someone who got a one time distribution with some lucky payouts during the year after years of very low paying work, in a high rent area with no home equity, is going to get a higher EFC and find it very difficult to come up with the money, whereas the first person, could just take a home equity loan which is tax deductible, and possilby get tuition deductions/credits as well. Those are some of the flaws in the system.</p>
<p>jamimom: I am impressed by the extent of your "college knowledge", from finances to admissions to programs. Do you mind if I ask if you learned so much by regular parental experience, or do you work for a university? I don't mean to pry, I was just curious. I am on my first time through this college stuff. I have researched alot and spoken to many people, and I dont' know even a fraction of what you do!</p>
<p>here is a quickie cheat sheet for the comfortable, but non-wealthy, among us - assuming that this year's EFC is exactly what you would pay, and that it remains steady for 4 years (if God is kind and your income rises, it should go up), here is the amount you have to find:</p>
<pre><code> 4 year
</code></pre>
<p>1 yr EFC out of pocket</p>
<p>40000 160000
39000 156000
38000 152000
37000 148000
36000 144000
35000 140000
34000 136000
33000 132000
32000 128000
31000 124000
30000 120000
29000 116000
28000 112000
27000 108000
26000 104000
25000 100000</p>
<p>yulsie they probably applied because you need to do FAFSA to get certain merit type scholarships (like from your local community) as werll as Stafford loans, etc.</p>
<p>My D is applying schools which take home equity into account so I am sure our EFC is very high. However, we will do FAFSA to qualify for loans just in case.</p>
<p>So, my EFC significantly exceeds the tuition at even the best of private institutions. Do schools ever grant any sort of aid in this sort of instance? Is there even a possibility that I'll get a dime? Or should I not bother submitting my remaining financial aid applications?</p>
<p>my efc is ridiculously high, it's like 80k+ but I have 2 younger twin brothers and i didn't think my dad made THAT much money. apparently having 2 younger siblings does jack for you. yea no way in hell im getting any aid.</p>
<p>Abeppu, it may well be that it is not worthwhile to continue with the rest of your aid application. However, if you have good stats and are in the running for a merit scholarship, some schools need the FAFSA. Also some schools require that you apply for financial aid the first year in order to be eligible in subsequent years. If you are insulated from parental job loss or other financial blows, it may not be an issue. The other issue where you may qualify for aid in future years, is if you have a sibling who will go to college. Also some school have internships, jobs for kids who have filed for financial aid even if they did not qualify. Call the financial aid offices of your college list, and ask about those issues, then discuss with your parents.</p>