My EFC is 372. How much money will I recieve from the fasfa for college?

Thank you to those who answer(:


Have a great day.



Your EFC score is an index of your financial aid need. Your school can use this score to compare your need to the need of all of the other applicants who will be attending your school next year.





Your EFC of 0372 (which is not read with a dollar sign, by the way), indicates that you have demonstrated what's known as "exceptional need" - that category is made up of all applicants with EFC scores below 4041.





Students who have demonstrated exceptional need are eligible for special aid programs known as "need-based aid". These programs include the various educational grants, the Perkins Loan, the subsidized Stafford Loan and the Federal Work-Study Program.





Though you may be qualified for those programs, only the Pell Grant is actually guaranteed. All of the other forms of need-based aid are awarded on a case-by-case basis by the financial aid department at your school. There is a limited amount of each of these funds available to your school, and they must determine the most equitable way to allocate those funds to eligible students.





Based on your EFC score of 372, you will be awarded a Pell Grant of $5000 for the 2009-2010 school year, assuming that you are enrolled as a full-time student.





You are also guaranteed to be offered a Stafford loan, and there is a good chance that part of that loan will be subsidized. The maximum Stafford available to a freshman is $5500.





Depending on your state, and school, you may be eligible for state funded assistance, or institutional funds offered directly by (and through) the school. No one can predict your eligibility for those funds - so that's another variable that would make it impossible to accurately guess your aid award.





In fact, there really is no way for anyone to predict what you will be required to pay out-of-pocket next year. Your school will put together an aid offer letter that describes the aid that they have available for you - and the letter will provide instructions on how you can accept and receive that aid.





I hope that helps you - good luck!