<p>Mine is 3500ish?</p>
<p>Is this the dollar amount I'll be expected to pay or.. something else?</p>
<p>thanks</p>
<p>It is the number used to award financial aid. It is the amount your family is expected to be able to come up with in order to pay for your education that particular year. It is also the number used to determine your eligibility for a Pell grant (at 3500, you would be eligible for a Pell grant of 1181 for the year. You would also be eligible for the ACG if you qualify academically).</p>
<p>However, not all schools will award aid to meet full need. For example, if a school's cost of attendance is 33,500 per year, your "need" is 33,500 COA -3500 EFC = 30,000. However, if the school "gaps," they may only offer you a package of grants, work study, and/or loans that total $20,000. In that case, your family would have to come up with 13,500, not 3500. If the school meets 100% of need, you may actually only have to pay the 3500 ... but realize that many of these schools also require additional info (on Profile or on their own form) that might recalculate your ability to pay at a higher number. Also realize that loans are a form of financial aid, and your financial aid package can contain a lot of loans. There is no way to say what a 3500 EFC means generally speaking.</p>
<p>Ohh, so it's actually a dollar figure?</p>
<p>I didn't understand that.</p>
<p>I think I understand now. Thank you.</p>