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What does it mean if your EFC number is 04598?

James Washington

in Student Loans

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Kristi Hammond on February 28, 2019

EFCstands to the Expected Family Contribution. The is an index numberthat the college financial aid staff use to figure out how to muchfinancial aid you are eligible to receive if you go to theirschool. Your EFC is discovered after the information in the report of its specific situation on the FAFSA. It is based on a formulaestablished by law. This formula considers your family's taxed anduntaxed income, assets, benefits, family size, and the number of familymembers to attend the university. Yourcollege figures of how much need-based aid you will receive bysubtracting your EFC from your Cost of Attendance. Your EFCis not the amount of financial aid you will receive, nor is it how muchmoney you will have to pay for the university.


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