EFC Question

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nelaw2010
Posts: 253
Joined: Wed Jul 07, 2010 1:48 am

EFC Question

Postby nelaw2010 » Sun Jan 30, 2011 7:23 pm

What does EFC = 05269 mean?

Underneath this it says: "The EFC is an index that schools use to determine your eligibility and is not the amount of money that you have to pay. Your school's financial aid office will use your EFC to determine the specific types and amounts of student aid you are eligible to receive."

I'm trying to figure out how law schools will use this index number. What does it mean in terms of my expected contribution.

Thanks!

Anonymous Loser
Posts: 568
Joined: Fri Sep 11, 2009 11:17 am

Re: EFC Question

Postby Anonymous Loser » Sun Jan 30, 2011 7:48 pm

For the overwhelming majority of law school students, EFC does nothing more than determine what portion of a Stafford loan award is subsidized.

For the small number of schools that offer Perkins loan funding to law students, EFC will determine eligibility for these loans. Perkins loan awards are quite small for even the most qualified students.

For the handful of schools that offer need-based grants, EFC may play some role in determining financial need. However, almost all of the schools that offer need-based grants require the applicant to complete an institutional form in addition to the FAFSA.




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