So what Does My EFC Code for Educational Funding Suggest?

Scholar With EFC of 01472

A college with moderate resources might be able to give more in merit help or grants that are need-based. For instance, this learning pupil is qualified to receive:

  • Pell grant of $4,365
  • Federal subsidized loan of $3,500
  • Federal loan that is unsubsidized of2,000

The school places together a need-based grant of $11,000 each year also some merit help of $5,000. (Note: These figures are arbitrary to offer a sense of what sort of university might award educational funding.)

The expense of attendance is $20,000 plus the total school funding package, including loans, federal Pell grant, and institutional funds is $18,315. Consequently, the learning pupils family members needs to show up with another $1,685. They could do that out-of-pocket (numerous universities have actually re payment plans), making use of outside scholarships or if you take down that loan.

Scholar With EFC 08932

What are the results whenever a pupil’s EFC is simply too high to obtain a Pell grant? While families can get to pay more out-of-pocket, a college with moderate resources may nevertheless be in a position to offset a few of the price of attendance. As an example, this pupil’s educational funding package could appear to be this:

  • Federal Subsidized Loan $3,500
  • Federal Unsubsidized Loan $2,000

Using the amount that is total of applied for, the pupil and her family members would still need to spend $24,500. The college acknowledges that although the family members has a higher EFC, $24,000 per 12 months price may nevertheless be high. An $11,000 grant and find an additional $1,000 departmental grant, which brings the student’s total to $10,500 so they add to the student’s package. Here is the quantity her family members might need to spend away from pocket. (Note: These figures are arbitrary to offer a sense of what sort of university might award educational funding.)

Note: once the EFC gets greater, the aid that is first to vanish may be the Pell Grant, accompanied by the Subsidized Loan, followed closely by any need-based grant or loan provided by the institution. This can be a typical pattern, though every educational funding prize will be different.

$40,000 COA With a sizable Endowment

In this situation, the college gets the budget to award a big need-based grant, loan and a sizable merit-based scholarship. In addition, they’ve funds to attract top pupils in different industries to greatly help round out the campus. Consequently, they consider more than simply the EFC while considering on prizes, and also make a place to supply substantial merit-based funds to worthy pupils.

Scholar With EFC of 01401

This student qualifies for a substantial amount of need-based help:

  • Pell Grant $4,365
  • Federal Subsidized Loan $3,500
  • Federal Unsubsidized Loan $2,000

Following the allotted federal help, the expense of attendance remains $30,135. Consequently, the college adds:

  • University grant that is need-based of17,000
  • University loan that is need-based of5,200
  • Merit-based scholarship of $6,500

This brings the pupil’s total price of attendance down seriously to $1,435. (Note: These figures are arbitrary to offer a sense of what sort of university might award school funding.)

Merit Scholar With EFC of 20000

Several times, pupils and families think because they do not qualify for need that they cannot apply to a school that is anywhere outside of their budget. Nevertheless, schools with big endowments usually have the resources to greatly help fund a whole training. This merit pupil did not be eligible for any loans that are need-based funds. With that in mind, she has won a nationwide competition, is mixed up in community in volunteering, and holds leadership roles in 2 groups in school. Her school funding might look similar to this:

  • Federal Unsubsidized Loan $5,500
  • College-Based leadership Award $8,000
  • College-Based Community Service Grand $5,000
  • Departmental Award through the student’s meant major $20,000

All of this help brings your family’s total cost that is out-of-pocket to $6,500. (Note: These figures are arbitrary to provide you with a sense of what sort of university might award school funding.)


  • The EFC codes have already been chosen arbitrarily as examples spread across a variety to offer a gradual image of what are the results due to the fact EFC rule increases. Additionally, please be aware why these maps aren’t supposed to be exhaustive listings each and every variety of grant and loan that exists. They truly are just supposed to show the way the EFC impacts school funding.
  • The EFC doesn’t have impact on merit-based scholarship amounts. The merit scholarship amounts opted for during these examples had been plumped for arbitrarily to demonstrate samples of schools awarding merit that is different centered on either the college’s spending plan or even the student’s performance.
  • Schools do their utmost to generally meet a pupil’s monetary need, not every educational college gets the spending plan to pay for 100 % from it for every single applicant. (Some do, but, as well as in such instances the EFC really is accurate.)

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