What exactly is the EFC of financial aid?

  1. I applied for aid, and I just wondered if I was expected to pay all my EFC (expected family contribution) towards tuition and books, or does it also include cost of living expenses? I just thought that it seems like a lot for me to pay out of pocket. Thanks
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  2. 38 Comments

  3. by   nurse2btracy
    Hi!

    No, you are not expected to pay what your EFC. They say that my EFC is over 8000. If I had 8000 laying around I would not be applying for aid. They do not take into consideration: rent, food, bills and so forth.

    I hope that this helps

    Good luck

    Tracy
  4. by   mitchsmom
    I think it must include some peripheral costs because mine was more than just my direct school expenses.
  5. by   EMTtoRN
    I know that when they estimate how much it costs for me to attend school it is like $12,000 but that includes living expenses because it is only $2000 to come here full time. The lower your EFC the more Aid you qualify for. Pell grants are only given to a certain EFC. For instance last year my EFC was around $2700 and I received pell grants. This year my EFC was $4000 so I received no pell grants, just a grant from the school.
  6. by   KrisRNwannabe
    my EFC is over 23,000. eeks. I told FA if I had 23,000 why would I be appyling for financial aid for a community college that costs less than 5,000 grand per year?????????? I know for a fact they don't count living expenses cuz i asked.
  7. by   RedSox33RN
    Quote from KrisRNwannabe
    my EFC is over 23,000. eeks. I told FA if I had 23,000 why would I be appyling for financial aid for a community college that costs less than 5,000 grand per year?????????? I know for a fact they don't count living expenses cuz i asked.
    Good Lord!! Did you double-check to make sure there are no errors? I know wealthy kids going to Yale that have lower EFC's!

    I guess I'm lucky - sort of: My EFC is 884, because we have 4 kids and I'm a SAHM. I am expecting a large settlement from my mother's estate, but I don't think it will be ready in time for the start of classes. I'm applying for Financial Aid and loans just in case.
  8. by   nurseshawna
    I guess I'm lucky - sort of: My EFC is 884, because we have 4 kids and I'm a SAHM.
    i'm crying!! my efc was over 5,000, have no clue why, but i also have 4 kids, and dh is the only one working. they told me i could claim 10,000 for every person in the house to see if i qualified, and i know our income wasn't over 60,000, i still need to find my tax papers.

    i am also going to a CC. plus, i have added driving and gas expenses, it wouldn't be so bad if i actually lived there i guess!

    by the way, in answer to your question, an EFC is "the devil"!!
  9. by   marilynmom
    My EFC is $300. I really have no idea how they really go about figuring all that out. Here are our stats:

    Husband works full time makes $20,000/year
    He is also in school full time
    I am in school full time
    We have 2 little kids

    Marilyn
  10. by   studentnurse74
    My EFC is also over $5,000. Ugh..
  11. by   RedSox33RN
    Just a thought -

    You guys/gals didn't put in the net worth of your home or anything did you? I *almost* did that, but all of that is exempt. A friend of mine had done it and her EFC was much higher. She had to file a correction, but unfortunately her school had already received her FAFSA and it was difficult to get the money she needed.

    Truly, I'd go back and double-check your FAFSA. Even one decimal point out of place can make a HUGE difference!
  12. by   studentnurse74
    Quote from wannaBEanRN
    Just a thought -

    You guys/gals didn't put in the net worth of your home or anything did you? I *almost* did that, but all of that is exempt. A friend of mine had done it and her EFC was much higher. She had to file a correction, but unfortunately her school had already received her FAFSA and it was difficult to get the money she needed.

    Truly, I'd go back and double-check your FAFSA. Even one decimal point out of place can make a HUGE difference!
    Thanks for the tip, but I'm afraid I didn't add home value. The only thing I put was what we had in our 401K, which I don't think is necessary to give them anyhow, since we won't be using that for school! I double checked, but no errors. [sigh]
  13. by   klone
    They didn't ask for home value, did they? I don't recall that question coming up.
  14. by   RedSox33RN
    Quote from klone
    They didn't ask for home value, did they? I don't recall that question coming up.
    There was questions about net worth. Sometimes companies include your home as part of your net worth, but FAFSA does not.

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