The EFC (expected family contribution) number that you receive after filling out your annual FAFSA application is just what the name implies: the amount that your family will be expected to pay out of pocket after all financial aid is applied to the cost of the school you choose to attend.

So, just what is the best EFC number to have? Some people might argue that the lower this number is, the better. However, if your EFC number is extremely low, or zero, that means that your family is quite poor, and certainly that is not a good thing for you or your family.

Your EFC number is good if you and your parents can afford to pay it and are willing to do that for you, AND also the school you want to attend will give you enough aid to make up the difference. If your number is significantly low, some schools may not be able to make up the entire difference, leaving you with a need gap that can only be met with a loan or possibly merit scholarships.
college2 What is a Good EFC Number?
People with low income and low EFC should decide upon the proper school for them, and also check into whether the school is “need blind.” The fact that a school is need blind typically means that the school is well enough endowed to help students which have greater needs, and that they do not take financial standing into consideration before approving applications. Need blind schools will generally be able to offer students a full financial aid package, meaning that there will be no “gap” between what your EFC number is and what you are expected to pay.

School financial aid offices are well equipped to deal with any financial situation and have a full range of programs at their disposal to assist students in getting the money that they need to pay for schooling. The Pell Grant program offers a maximum of $5350 for school year 2009-2010, and is a true grant in that students are not required to pay the money back. There are also campus-based programs like the FSEOG (Federal Supplemental Educational Opportunity Grants) and FWS (Federal Work Study.) Additionally, subsidized Stafford Loans -which are administered by the William D. Ford Federal Direct Loan Program (DL) or the Federal Family Education Loan Program (FFEL), are available to make up any gaps.

In conclusion, the best EFC number is one which works with your chosen school and gives you the maximum amount of financial aid so that your family can afford to send you there.