What is EFC Exactly? | 07.28.09
The Expected Family Contribution (EFC) number is not the amount of money that your family must provide. Rather, you should think of the EFC as an index that colleges use to determine how much financial aid you would receive if you were to attend their school. That means the EFC figure may vary from school to school, which is normal.
Your EFC number is located in the upper right hand corner of your student aid report (SAR). Your SAR report is generated by the Department of Education after you file your FAFSA.
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Our daughter is a student at the Univ of Missouri, Columbia. She gets NO grants. Just found out it’s due to their “formula”:35% from student, 25% from parents. She works FT making $16,000/year in 2008. By the school’s formula her income alone kicks her out of any grants (.35 * $16,000 =$5,064; maximum EFC to qualify is $4,617). Our combined income for 2008 was $34,189. I fail to see how we are considered too wealthy to qualify for a grant. We tried getting her declared independent, but the school has denied the request. She is, in fact, self supporting since fall semester 2007. Where is all the money going? Suggestions?
i wished everybody received financial aid and shouldnt have to take out loans.