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The Information below Will Tell You Whether Your Program Qualifies for Financial Aid
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People also ask
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Why does my EFC start with a 0?
0 EFC & Need-Based Financial Aid ing to the Federal Student Aid Office (FSA), students who qualify as having 0 EFC are eligible to receive all types of need-based aid to pay for their education as their families are unable to financially contribute. -
Who qualifies for a zero EFC?
Automatic Zero EFC The income threshold is $29,000 or less instead of less than $50,000. The automatic zero EFC is not available to independent students without dependents other than a spouse (those who use Formula B). -
What makes a program eligible for financial aid?
An eligible program is a program of organized instruction or study of a certain length that leads to an academic, professional, or vocational degree or certificate, or other recognized education credential. -
What is a good EFC score?
The overall average EFC is about $10,000, with an average of about $6,000 for students at community colleges and $14,000 at 4-year colleges. Slightly more than half of students have an EFC of $2,500 or less. Slightly more than 10% have an EFC greater than $25,000. -
Is a EFC of 0 good or bad?
A good EFC for each family will depend on their individual circumstances. In most cases, the lower the EFC, the better, since that typically corresponds to more financial aid. An EFC of 0 means the student and their family are expected to make no financial contribution of their own to college costs. -
Which form is used to determine if you are eligible for financial aid?
You need to complete the FAFSA form to apply for federal student aid such as federal grants, work-study funds, and loans. Completing and submitting the FAFSA form is free and easier than ever, and it gives you access to federal student aid—the largest source of aid— to help you pay for college or career/trade school. -
What does it mean if my EFC is 0?
Zero is the lowest EFC number with 99,999 as the highest. If a dependent students' family's income is less than $24,000 and government assistance was needed for that filing year, the EFC will automatically be zero. A zero means a family has no ability to contribute to the student's education. -
How do I know if I will qualify for financial aid?
Here's the short answer: Your eligibility depends on your Expected Family Contribution, your year in school, your enrollment status, and the cost of attendance at the school you will be attending.
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