Fed Financial
student financial aid?
I applied online for financial aid with FAFSA. It says that my EFC is 0. What is this supposed to mean and am I still elligiable for financial aid? Will it tell me if I am elligiable or do I have to go up to the school to find out?
Public Comments
- Well, in the fafse you select which schools you want your info to be sent to. From their they will set up a financial aid package with grants and loans and you are then able to accept or decline them. The school will ask you for documents to verify your income, so you will need your parents tax info if you are dependent.
- i think thats a good thing.. meaning you school get those most money.... but it wont be process until u are accepted by your college and u submit your fafsa to them from the fafsa site... its kind of late in the year so they might not be a lot of funds out there now.. it all depends on your school... check with them if u already been accepted then they should have all ready set aside the money for you. some schools dont ask for you to show proof of income mine didnt.
- An EFC of 0 is very good! EFC is your estimated family contribution, and what this is saying is that you have no help from your family when it comes to paying for school. Therefore, the government will offer you grants and loans to pay for it. This report will be sent to your school and at some point, your school will inform you of what financial aid you were offered and you can accept all or what parts of it you want. After it is processed, the money goes to the school and they take out tuition (and room and board depending on the school and if you live on campus), and give you whatever is remaining in the form of a refund.
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