Simply stated, EFC is your Expected Family Contribution. What this means is the federal government deems that your family is able to pay this amount toward your education.

college3 Expected Family Contribution Codes Your EFC code is your FAFSA score, or the amount that is calculated by the government using the information that you give on your FAFSA to calculate your need for assistance. The amount you qualify for is typically the total cost per year at the school you choose minus the EFC code.

COA-EFC= Financial Need (COA means cost of attendance, and includes tuition, books, and room and board) is the basic equation used. COA obviously varies depending on what university you are interested in. Harvard’s COA will be significantly higher than a state school such as Ohio State University. That does not, however, mean that your family will pay a much higher amount for you to attend Harvard, as it is a “need blind” school, which means that is well enough endowed to handle the financial needs of all students who are approved. You can find out the COA numbers from your intended school’s financial aid office, and also whether or not the institution is need blind. This information is usually available online as well.

A lower EFC number means that you qualify for a greater amount of aid, but do not assume that you are out in the cold if yours is high. College financial aid offices have a lot of information and programs at their disposal to get you the greatest amount of aid legally possible.

Most applicants with EFC of 4000 or less are typically said to have demonstrated exceptional need, and will qualify for most “need-based” forms of aid, which include the Pell Grant and other federally subsidized grants and loans, as well as the Federal Work Study program.

Pell Grants are available to those students who have not yet earned a bachelors degree, do not have any defaulted student loans, a good college GPA, and no estimated info on your FAFSA, and are attending full time. Generally, students who qualify for Pell Grants are eligible for the ACG/SMART grant program as well.

Your EFC code is used to determine what kind and how much financial assistance you get, and it stays the same no matter where you intend to go to school. With one school, your EFC may enable you to attend with no money out of pocket from your family, while a private or out of state school may cost the family up to the full amount of your EFC.