What Does Your FAFSA EFC Number Mean?
Realistic Simple Definition of Your EFC Number
- It is not the amount of money your family is expected to pay for college.
- It is not the amount of financial aid you will receive.
EFC is Like an Index Number for Colleges
Colleges use your EFC Code to calculate your financial aid eligibility. Some people use a formula COA – EFC= Amount You Pay but this oversimplifies how the financial aid process works.
The video above explains in more detail what your EFC means and how EFC Formulas work with Financial Aid Eligibility.
What Determines the Amount of Financial Aid
Your Expected Family Contribution (“EFC”) is the “major driving factor” in determining financial aid eligibility and the structure of the financial aid award. Other factors which are involved are;
- Your Year in College
- Your Enrollment Status
- Cost of Attendance
- Percentage Need Met by Individual College
- Student Profile Compared to Average Student at College
- Individual College’s Best Practices
What Does the Financial Aid Office Do With Your EFC Number ?
You Can Estimate Your Financial Aid Award By College
This is the information you need so you know if a College is making you a fair financial aid offer using your EFC number and the other factors above.
- Which Colleges give out the most “Merit Aid”?
- Which Colleges burden you with “Self Help” (Loans)?
- Which Colleges have the highest “Need Met”, more financial aid?
- Which Colleges are more affordable for your financial situation?
- Which Colleges are more suitable for your student based on Freshman/Upperclassman Profile Data?
Learn More About Our EFC Tune-UP™
Answer the Question “Can I Lower My EFC Number for More Financial Help”
- You access our free EFC Calculator Software in Resource Library
- You Input Your Data, Simple Help Instructions on Each Screen
- Send The “Encrypted” Data Back (No Social Security Numbers)
- Or, We Can Collect Data By Phone, or Send You A Spread Sheet
- We’ll Provide Before / After Strategies to Lower Your FAFSA EFC Number
College Affordability Financial Aid Eligibility Comparisons by College
- Prepare Financial Aid Eligibility Reports
- Shows You Up To 5 Colleges Side-by-Side
- Projects Your Financial Aid Package Based Upon College Historical Award Patterns
- Discover Your Anticipated “Unmet Need” [your out-of-pocket costs]
- Two-Page Selected College Research Information Summary Reports
Not Ready? Are You Asking The Right Questions?
- Tic -tac-toe, Did You Win The First Time?
- You Asked Questions, Learned The Rules, Then Looked For “Someone” Who Did Not Know The Rules, And You Won!
- EFC Is Like Tic-tac-toe, More Rules, Do You Know Them? Do You Want to Learn Them?
- Do you understand the Financial Aid Appeal process?
- Do You Want to Take the Time to Learn All This? Why not Let Us Help You!
Don’t Be The “Someone” In The EFC FAFSA Process
OR YOU CAN
Make It Easier, Simpler with EFC Tune-UP™
Alert: Not filing the FAFSA form because you make too much money, that can be a Big costly mistake.
Most Colleges require you to file the FAFSA to qualify for “free money” – grants, scholarships, merit aid, etc.
What’s your plan of action for the FAFSA?
What’s your plan for Financial Aid?
What’s your plan for paying for College?
Which Colleges are more affordable for your Family?
Let’s start the process, click the image below!
See Financial Aid Eligibility sample report comparing colleges side by side.
[Click Image Above]