I just submitted my FAFSA, and it told me my family has an EFC of 000700. I’m a little confused by this especially because upon research I’ve seen kids with number like 048492. Does this mean my family is expected to contribute $700? Furthermore, would this decrease my chances of getting into the schools I’m interested in? I have solid academics, test scores and ECs, and I want admissions officers to see me as a whole not just as an expenditure. Thank you!
An EFC of 000700 mean that you have an EFC of $700
Meaning that you are eligible for a PELL grant
Most FAFSA only schools do not meet 109% demonstrated need. The more generous schools will use either the CSS profile or their own financial aid forms
What are your stats and where are you applying?
Most universities are need blind and don’t meet need - meaning that if you can’t pay, not their problem.
Some universities “meet need” which means if they admit you, they make sure you can attend. Those should be your priority if you have the grades (as those tend to be quite selective.)
Only the need aware schools would consider your financial situation during admission process. Most school don’t. However, you do need to look at those schools that would meet your need or you have high chances for merit scholarships. Most public colleges would not meet your need, so your family will need to contribute much more than your EFC.
Echoing what the others have said - it really does not matter if you get accepted somewhere if you cannot afford to go there. Not many schools will meet your need, but there are some that will. Make sure you are running the NPC (net price calculators) and see what likely will be offered to you. Talk to us and glean from our knowledge. We love to help!
I used to think that the EFC meant that was all I’d have to pay, and everything else would be magically taken care of.
That might happen at like 10 schools for the perfect scores, perfect GPA, with a special dispensation from God, but so many places don’t cover it, and if you do not plan well, you end up either not being able to afford to go, or in enormous debt (you AND your family, because you won’t be able to get all the loans you would need on your own).
This sounds scary, and if you don’t plan and pay attention now, it will be.
Don’t let that happen. Talk to us 
Tell us your stats, people here are knowledgeable and desire to help. We’ve all spent years learning, only have a couple kids who are now on their way, and want to use what we know to help others
My knowledge base is deep in scholarships, especially for economically underprivileged and minority students. My foster son was both of these, and won the Gates Millennium and Horatio Alger scholarships, as well as one from the Hispanic Scholarship Fund. Many of these have application dates closing in October, so ask and we shall do our best.
We might not always be huggy, squishy and nice, but we will do our best to be forthright and helpful.
@sybbie719 thank you! I only just found out about the CSS Profile today, after I submitted my FAFSA and went to make sure that was all I needed to do, so I’m getting on that. I expect my CSS Profile to be higher, especially as they consider stocks/bonds etc and my parents are stock market-savvy.
@NJRoadie Okay thank you! My family has savings and is very pro-education (Nigerian immigrants, American dream etc etc), so I know money won’t stop me from going to a school that I love, but it really bothers me that I will be putting such a strain on my parents, especially since I have a little brother who I know will do very well, but at a cost.
My counselor has been extremely unhelpful, so I’ve been doing a lot of research on my own, and I don’t even know where to start for scholarships. I’m an African-American female living overseas, and most people from my school go to U.K./Canadian universities, so I feel pretty alone during this process. Are there any scholarships you can recommend? I’m a strong writer and am willing to crunch to meet these deadlines.
@MYOS1634 & @NJRoadie My GPA is the weakest part of my application, at about a 3.5 UW. I had a rough 9th and 10th grade, but enrolled in the IB diploma program in 11th grade, and got a 3.9 last year, and intend to keep it up. (upward trend?). I got a 1410 on the SAT (780R & 630M), and I’ll be focusing on my math section when I take it again, because I’d really like to bring it up, as its not as strong as I know it can be. I’m really active in my school community, student body president, photo editor in chief of school newspaper, founder/president of yearbook club, 4-year varsity volleyball athlete + senior team manager & executive of Stop the Bull, an anti-bullying initiative in my community + research projects and a summer internship at the office of the Nigerian Vice President last summer.
I’m applying EDI to NYU – I know its horrendous with financial aid, but I believe its a great match for me & my interests (International Relations & maybe pre-law)
EA to Northeastern, Fordham, Quinnipac, UDenver, Case Western & Rutgers
RD to American U, BU, UNC (my state flagship), Tufts, NC State, Penn State, Syracuse, & GWU
(a lot of schools, I know! but 70% sent me a fee waiver, so no harm no foul + hopefully I won’t need to apply to my RDs if I get into NYU)
Thank you all for your advice so far :), please be brutally honest because your advice is the only advice I have, thanks to my absentee counselor.
FAFSA also considers investments in stocks and bonds, unless they are held in qualified retirement accounts (same as Profile).
Op- I will be brutally honest.
You need a sitdown with your parents to come up with an exact amount (12K per year? $800 per year?) of exactly what they can afford to spend for four years on your education. Knowing that they are pro-education is wonderful but means nothing in the context of the quarter of a million dollars which is the sticker price of some of the colleges on your list.
You should not be applying ED anywhere. You can get a great international relations education at dozens of schools which are likely going to be cheaper for your family than NYU so how this has come to the top of your ED list is a mystery to me. But take it off- today.
Let us know what your parents can pay. Then we can help you come up with a better list. Your parents now live in North Carolina but you are overseas???
@blossom Thank you, and you’re 100% right. I have spoken with my parents and made them painfully aware of the costs of NYU, as I’ve been talking about the school for over 5 years now and need to kill the dream if its not fiscally possible. They know, and are fully on board. We are North Carolinians who have lived overseas for 8 years now. NYU has a policy that if they can’t meet your financial aid package, you have a month to accept the ED acceptance, so I won’t be locked into an abysmal aid package. Our tax bracket shifted significantly in the past couple years, but I’m still able to pay the full NYU tuition – especially with loans – I just would strongly prefer to receive financial aid.
TL;DR: I can pay, but I feel like I’m the only one in my family worried about the cost of college, as my parents have repeatedly told me to stop worrying about the money, but I can’t help it! I don’t want to put undue burden on my parents.
http://www.millennium.psu.edu/
Run the net price calculator for Penn State. They will probably not care much that your EFC is only 700. You will get about $5,000 in Pell grant and $5,500 student loan. Unless you become a Millennium Scholar (STEM).
You should apply to Ohio State and Pitt quickly for a chance at a diversity scholarship.
Maybe Howard University as well. And University of South Carolina and U Richmond.
@BelknapPoint thank you wow, I had no idea. I’ll check with my parents to make sure that everything was input correctly.
@mommdc Will-do, thank you.
Are your parents physically present, living and working in North Carolina?
@sybbie719 No, we live there part-time and they don’t work in NC.
@mommdc thank you, those suggestions are really helpful. Howard was previously on my list, but I read that HBCUs don’t really give aid, and I didn’t feel the school was so right for me I could look past the aid or lack-thereof.
Yes, if you have lived out of the country, how are they residents of NC?
Do you own property there, pay NC state taxes? If you own a house other than your current primary residence, that also might need reported on the FAFSA and CSS profile.
Also do your parents have green cards? They could lose them for living out of the US for extended time periods.
Ohio State has a Nov 1 merit deadline. All materials (transcript, scores) need to be received by then.
Pitt’s scholarship committee will start meeting sometime in October. So work on these apps asap,
@mommdc My parents are American citizens. We sold our home after we moved, but they pay NC taxes, vote in NC etc etc. According to the UNC residency calculator, I’m a resident.
If your parents are not residents where North Carolina is their primary residence, then you are probably not in-state for tuition purposes, especially because you don’t attend high school in North Carolina. . Are they filing taxes in North Carolina?