Can I argue my EFC?

If you or your parents' have special circumstances that are impacting your ability to contribute, you can consider requesting a Expected Family Contribution (EFC) appeal. We will review your appeal and make adjustments, as appropriate, based on your current financial situation.

Can I dispute my EFC?

A financial aid appeal can either go two ways: it can be denied or approved. If an appeal is approved, the financial aid administrator will make changes on the student's FAFSA. From there, a new EFC will be generated, which will result in a new financial aid package.

What if I think my EFC is wrong?

If you believe that a college has calculated your EFC incorrectly, contact the financial aid office. Financial aid administrators can explain how they determined your EFC and discuss your options. Your EFC may be lowered if your family has had a significant change in income or expenses since you applied.

How can I lower my EFC legally?

Reduce family income

If possible, defer any workplace bonuses or avoid exercising stock options. If you have an investment that's losing money, consider selling it. The capital loss will factor into your adjusted gross income and could lower your EFC.

Can you argue financial aid?

You can appeal during the first year in college or after the first year in college. It is best to appeal for more financial aid as soon as the special circumstance has occurred. For example, if a parent has lost their job, appeal for more financial aid as soon as you've received the layoff notice or termination letter.

The Expected Family Contribution (EFC) Explained

What is a good reason to appeal financial aid?

Valid reasons for an SAP appeal

Valid reasons for an appeal include: medical emergencies. severe health issues. severe personal or family problems.

How successful are financial aid appeals?

Appeals aren't always successful —- my success rate for my clients is a little more than 50 percent. But by using these tips, you can increase your chances of success right from the start.

Why is my EFC so high with no income?

If your family has a high number of investments or other assets, this could skew your EFC. It is also possible that you made a mistake on the application. We always recommend contacting your college financial aid office to ask questions about your specific family situation.

What is the EFC for 100k income?

The basic theory is that the lower your EFC, the bigger your financial aid award. A family with an adjusted income of $50,000 and two dependents would expect to have an EFC of around $3,800 without considering any other financial assets. A family with income of $100,000, would have an EFC of approximately $20,000.

What is considered a high EFC?

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.

How accurate is the EFC on FAFSA?

Your EFC result won't be as accurate, but it should be in the ballpark. The purpose of the EFC Calculator is to give you a general sense of your eligibility for financial aid to help you understand how much college may cost you.

What is the most common mistake made on the FAFSA?

How do I change my EFC to 0?

What happens if parents can't pay EFC?

If your parents or guardians refuse to pay for college, your best options may be to file the FAFSA as an independent. Independent filers are not required to include information about their parents' income or assets. As a result, your EFC will be very low and you will probably get a generous financial aid offer.

How much financial aid can I get based on EFC?

Your financial need is also the maximum amount of need-based aid you can get. For example: Say your school's cost of attendance is $20,000 and your EFC is $8,000. In this case, your financial need would be $12,000 — this would also be the maximum you could get in need-based aid.

What is an EFC calculation appeal?

The Special Circumstances/ EFC Appeal allows revisions, based on professional judgment by the Financial Aid Office, to the FAFSA income for an individual student based on loss of parent's (if dependent) or a student's employment or reduction in work hours, loss of untaxed income or benefit such as child support or ...

What does an EFC of $50000 mean?

An Expected Family Contribution (EFC) of $50,000 means that the family is expected to contribute $50,000 toward the student's education expenses for the academic year.

Will I get financial aid if my parents make over $200 K?

But you might be surprised to learn that there are no FAFSA income limits to qualify for aid. For example, a family with a household income of hundreds of thousands of dollars could be helped by other factors in the FAFSA formula, including school costs and the number of siblings also attending school.

Can I get financial aid if my parents make over 150k?

There are no set income cutoffs for financial aid because of the number of factors that are included in the need-based calculation beyond income. Unless parents are in a situation where they don't need money for their child to go to school, everyone should fill out the FAFSA.

What EFC qualifies for Pell Grant?

The maximum expected family contribution (EFC) eligible for a Pell Grant for the 2023–24 award year is 6656 as compared to 6206 for the 2022–23 award year.

What is the lowest EFC on FAFSA?

Students with a 0 EFC will receive the full Pell Grant amount, which is worth $6,495 as of 2021. Students with a higher EFC may receive a prorated Pell Grant or not be eligible for any Pell Grant funds.

Is EFC based on income?

Your EFC is calculated according to a formula established by law and considers your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security). Learn more about how your EFC is calculated. Schools use the EFC to determine your federal aid eligibility and financial aid award.

How long do EFC appeals take?

It may take anywhere from two weeks to six weeks for the Office of Financial Aid to review your appeal. Appeals are reviewed in the order that they are received.

How can I increase my financial aid?

How do I ask for financial aid for more money via email?