<p>hey guys,</p>
<p>after the FAFSA is processed, what does the EFC (estimated family contribution) number stand for? Does it mean anything at this point, or is it just some odd number? i don't know what to make of it.</p>
<p>thanks.</p>
<p>The number is what federal methodology determines your family should contribute for college. Many colleges use that number as a basis for their financial aid awards, and if a college provides 100% of aid to its students, then your package will be the cost of the school minus the EFC. The EFC also determines eligibility for government funds so that those monies are available for the college to distribute.</p>
<p>The catch is that many schools do not give 100% of need. Also those that do often give packages that have loans and work study in them. So EFC is not the last word on what your family has to pay by a long shot. Also some schools also require their own forms on top of FAFSA, and the determination may be quite different. But the EFC is a good first step to let your family know where they are in the aid picture. A high EFC indicates no financial aid (if it surpasses the cost of the school), a very low indicates possible government money.</p>
<p>thanks so much for clarifying, jamimom! :)</p>