I just got my SAR report back from FASFA and my EFC number reads 00000. I feel that this is either incorrect or I am not understanding. I thought EFC was the amount I would be expected to pay. Is it possible for this to be a mistake? If it is how would I know?
Copyright © 2024 QUIZLS.COM - All rights reserved.
Answers & Comments
Verified answer
An EFC of 00000 means that you qualify for the maximum aid. It doesn't mean that you don't have to pay ANYTHING, but it does mean that you will qualify for up to $5550 in Pell Grants (for a full-time academic year), $3500 in Subsidized Loans and between $2000-6000 in Unsubsidized loans, depending on your Cost of Attendance (this is set by your school). If you can simply pay your tuition on the Grants, do so. If there is money left over after paying your tuition, you can use that money for books, gas, etc. It really depends on how expensive your school is, and your age, at this point. Only take the loans if absolutely necessary.
The EFC of 00000 ability which you're low-earnings and could offered help in this type of provides, loans and artwork-study. Your college will now deliver you a letter which provides a breakdown of ways lots you will get each and each semester. you will ought to sign the type to make sure that your money to be distributed. some scholars would be asked to be sure their FAFSA guidance. in case you asked to try this, furnish them with the asked documentation. As on your mothers and fathers until you're 24 or older, married or meet the different standards on the linked internet site you will considered a based student. you ought to substitute your handle with the college (all suitable departments) so as which you will acquire the two the award letter and/or verification letter.
Anything's possible.