<p>im starting UCF in Jan, and on my FAFSA my EFC ended up being 0, due to my parents income…what exactly does that mean, I know it means I will recieve a large % of fin aid…does anyone have an idea of how much of my expenses will be covered??</p>
<p>The 0 EFC means that the formula predicts that your Expected Family Contribution to the first year of college is 0. </p>
<p>UCF costs about $16K per year (tuition, room & board, books, misc personal expenses, transportation) for in-state students like yourself, living on campus. They only meet 70% of unmet need, on average, though. So they’ll put together a financial aid package for you that will include grants, loans, and work-study that will meet most (likely not all) of your need. If they put together a package that meets 70% of your need, it would total about $11K (grants, loans, work study), and you’d have to pick up the remainder somehow.</p>
<p>From College Board:</p>
<pre><code>* Average percent of need met: 70%
- Average financial aid package: $4,748
- Average need-based loan: $2,621
- Average need-based scholarship or grant award: $3,215
- Average non-need based aid: $1,808
- Average indebtedness at graduation: $13,095
</code></pre>
<p>thanks for the info!!..ive been searching like mad trying to find some hard numbers</p>