EFC question Forum

[belo28]

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...?

[Sauer Grapes]

....

[Notor]

cool story bro

[belo28]

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!

[vanwinkle]

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.

[existenz]

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