First of all, the item that must be included with this scholarship
application is a complete copy of your finalized SAR which will include
your EFC.
When you apply for financial aid, you will complete a FAFSA.
The result is the SAR or Student Aid Report
which can be up to 5 pages.
The EFC or expected family contribution
will be on your SAR. It is not the dollar amount your
family will have to pay towards your tuition. The EFC is the
number that the financial aid department at your school will use to
calculate your eligibility for federal financial aid and other aid.
You will receive the financial
aid package offered by the school in a letter that our foundation
calls the financial aid award letter.
Here is the official
explanation of EFC from the FAFSA Web site:
http://www.fafsa.ed.gov/
Federal Student Aid uses a need analysis formula set by
Congress, along with the information reported on your application, to
calculate your Expected Family Contribution (EFC). The EFC measures your
family's financial strength to pay for college, and is used by schools
to determine your eligibility for federal student aid during one school
year.
Your EFC is
not
the amount that your family will have to pay for college
nor is it the
amount of federal student aid that you will receive. It is a number used
by the school to calculate the amount that your family will be expected
to pay for college and the amount of federal student aid you are
eligible to receive.
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