@thumper1 is correct. EFC is not what a college expects you to pay, and it doesn’t vary from college to college. It’s a number calculated by the federal processor, based on the information reported on their FAFSA, that is used to calculate eligibility for federal aid. If it’s low enough, the student would be eligible for a Pell grant. A student who is eligible for Pell MIGHT receive an SEOG grant, but this is allocated by the school from a pool the federal government gives them. All students are eligible for federal loans if they successfully complete the FAFSA, but the portion that is subsidized (if any) depends on the college’s Cost of Attendance, all other aid, and the EFC … but a freshman is eligible to borrow $5,500 in federal loans, up to $3,500 of which MAY be subsidized (but the entire $5,500 might be unsubsidized, depending on COA, other aid & EFC). Some students might be awarded Federal Work Study, which allows them to work in an on campus job & earn money … but earning that money depends on the student being hired, and because the student is paid for hours worked, there is no guarantee that the award amount will be earned. FWS is awarded by the school from a pool of money the Federal government gives them. Any other money a school awards is from its own funds (institutional aid). Most colleges don’t award aid that equals the Cost of Attendance less the EFC. The shortfall is called a gap. Schools just don’t have the funds to award aid to fully meet need for the vast majority of students.
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