EFC question

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belo28
Posts: 7
Joined: Wed Jun 10, 2009 10:34 am

EFC question

Postby belo28 » Sat Feb 20, 2010 12:51 pm

I filled out my FAFSA yesterday and did not put any parental information.... so how in the world do I have an EFC of 10,455?? can anyone explain this...?

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Sauer Grapes
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Joined: Wed Dec 16, 2009 11:02 am

Re: EFC question

Postby Sauer Grapes » Sat Feb 20, 2010 12:52 pm

....
Last edited by Sauer Grapes on Sun Aug 22, 2010 8:47 pm, edited 1 time in total.

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Notor
Posts: 391
Joined: Sat May 23, 2009 11:32 am

Re: EFC question

Postby Notor » Sat Feb 20, 2010 12:52 pm

cool story bro

belo28
Posts: 7
Joined: Wed Jun 10, 2009 10:34 am

Re: EFC question

Postby belo28 » Sat Feb 20, 2010 12:58 pm

according to FAFSA, the EFC is:
"The Expected Family Contribution (EFC) is a measure of your family’s financial strength and is calculated according to a formula established by law. Your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) are all considered in the formula. Also considered are your family size and the number of family members who will attend college or career school during the year."

I don't get how they can calculate my EFC if I didn't supply any info about my family/parents' "financial strength," unless if by family, they are also considering ME as part of the family unit- is that what they do? sorry, i am new to this fin. aid stuff. thanks!

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vanwinkle
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Joined: Sun Dec 21, 2008 3:02 am

Re: EFC question

Postby vanwinkle » Sat Feb 20, 2010 12:59 pm

Did you make money last year? If so, they assume that you saved up some of the money you were earning in anticipation of attending law school. Don't worry about it, because schools don't consider your EFC in determining student loan eligibility.

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existenz
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Joined: Tue Dec 22, 2009 3:06 am

Re: EFC question

Postby existenz » Sun Feb 21, 2010 5:03 pm

"Your family" includes YOU. So that number is based on your income, your assets.




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